Ripple CEO Brad Garlinghouse revisited the SEC's impact on XRP, noting its prior value and current market changes.
SEC's Role in XRP's Decline
In a recent video, Garlinghouse asserted that the SEC's interference negatively affected XRP, which previously ranked as the second most capitalized digital asset after Bitcoin. He pointed out that after the SEC filed a lawsuit against Ripple in December 2020, XRP lost its market position. "What affects the price of XRP has been the SEC," he stated.
Conclusion and Ripple vs SEC Case Results
Garlinghouse's remarks coincide with the concluding phase of the Ripple vs SEC case. Judge Analisa Torres' ruling in 2023 acknowledged that sales of XRP on public exchanges were legal, although institutional sales violated securities law. This ruling marked a partial win for Ripple and opened new prospects for the asset.
XRP: Signs of Recovery in the Market
Following recent legal developments, XRP has shown signs of revival. After announcing the case's end, XRP surged over 8%. While XRP still trades below its all-time high, this recent market activity signals renewed interest from investors and optimism in the markets.
As the legal process comes to an end, Garlinghouse expresses confidence that XRP can reclaim its market position. The conditions for a long-awaited recovery are becoming increasingly favorable.
