Ripple (XRP) and Cardano (ADA) Hint at the Possibility of Collaboration to Enhance Regulatory Formulation

Recently, Ripple CEO Brad Garlinghouse hinted at the possibility of collaboration within the cryptocurrency sector with Charles Hoskinson

Ripple CEO Brad Garlinghouse hinted at the possibility of collaboration within the cryptocurrency sector with Charles Hoskinson, the founder of Cardano.

This conversation took place on the social media platform X. Both leaders showed confidence in future collaboration to enhance the formulation of clearer regulations.

Garlinghouse praised Hoskinson’s attitude and underlined that it would require coordinated efforts to address the emerging and unresolved legal challenges.

This interaction emerges as the US SEC has continued to assert its stringent position on the regulation of cryptocurrencies. This has been causing a continuous standoff with firms like Ripple and Cardano.

Most players in the industry, including Garlinghouse, have criticized the SEC for selective regulation. It is seen as limiting crypto asset innovation in the U.S. and distorts competition.

Garlinghouse Advocates for Unified Industry Action

In his most recent message, Garlinghouse talks about the necessity of restoring a fair regulatory framework.

Issues have been evidenced in Ripple’s long legal struggle with the US SEC. It started in December 2020 over charges of selling XRP without registering for securities.

According to Garlinghouse, the decision by the SEC to effectively act as the ‘primary enforcer of the U.S. securities laws,’ to ‘pick winners and losers’ harms the innovation of blockchain within the United States.

The timing of Garlinghouse’s remarks comes in the wake of the recent election of president-elect Donald Trump who has expressed support for the digital currency segment.

Trump in the past has proposed measures for the U.S. as an international hub for Crypto. He has also hinted at possible restructuring in the SEC.

Thus, this political transition may open up chances for Ripple and Cardano to work toward the common goal of obtaining a more comprehensive regulatory environment.

Hoskinson Seeks Reconciliation and New Initiatives

Another key event was the apology that Charles Hoskinson, the founder of Cardano, made to the Ripple’s XRP community for the past disagreements.

Some tensions arose owing to concerns that Ethereum’s team were involved in the process of achieving regulatory measures against Ripple.

The claim that caused the enmity between XRP and ADA communities. Hoskinson’s apology indicates that he is willing to reconcile on these issues. It implies a willingness to work together on projects that are mutually fruitful.

Apart from this apology, Hoskinson suggested a cooperation based on Cardano’s privacy-based project called Midnight and Ripple’s stablecoin project RLUSD.

Both are innovative projects that could provide the basis for safe and efficient transactions, and provide a solid boost to each firm’s position in the market.

Can Cardano and XRP Price Surge Reach New Heights?

As talks about the partnership prevail, Cardano price movement has drawn the attention of analysts.

The longer term predictions for ADA are that this asset could touch $40 in the foreseeable future. This is based on the next phases of network expansion and the right kinds of partnerships.

Such an increase would be a 7,400% increase from the existing levels. The hope of a partnership with Ripple may have contributed to a regulatory push.

it fosters confidence in both assets in the market. Furthermore, a significant increase in the number of active accounts on the XRP ledger was noted in November .

It crossed 24K from just around 10K in early-October. It has also shown the Scroll bars increasing traffic within the XRP ecosystem. This rise might be an indication setting up for a bigger run-up for XRP price due to increased volatility in the market.