Ripple (XRP) price held steady this week as most cryptocurrencies rebounded and after Brad Garlinghouse explained how

Garlinghouse, Ripple's Chief Executive Officer, noted that the company spent over $150 million in legal fees as it faced the Securities and Exchange Commission.

The price of XRP has held steady this week as most cryptocurrencies rebounded and after Brad Garlinghouse explained how Ripple was on a path to global domination.

XRP price is trading at $2.45 at the time of writing. It has risen by over 30% from its lowest point this month.

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Brad Garlinghouse and Ripple’s Path to Global Domination

Garlinghouse, the CEO of Ripple, noted that the company spent over $150 million in legal fees as it battled the Securities and Exchange Commission (SE). He said this in an interview with Fox Business host Maria Bartiromo.

According to the CEO, they have yet to scratch the surface in the cross-border payments industry. This is because the lawsuit made it almost impossible for the company to sign up many large financial services companies in the US.

As a result, most of the companies using Ripple’s technology are from other countries. Now that the litigation is behind it, Garlinghouse believes that there is an opportunity to sign up more American banks.

The goal of Ripple is to sign up as many banks and other companies as possible because its goal is to disrupt SWIFT. While SWIFT has worked well over time, its technology is over 50 years old, is slow, and highly expensive.

On the other hand, Ripple’s on-demand liquidity (ODL) technology is newer, faster, and cheaper.

“The market opportunity here is massive. You’ve got trillions of dollars that is flowing cross-border globally and is still dominated by SWIFT. The challenge is that the S.E.C. has been fighting this. But the Trump Effect is now profound, as evidenced by the adoption of these technologies.”

Garlinghouse has seen more demand coming from the US following Donald Trump’s election. In six weeks since his election, the company signed more deals in the US than it did in the previous six months.

However, Ripple has room to grow to challenge SWIFT due to its scale. SWIFT now has over 11,000 banks from around the world. Ripple has less than 500 of them.