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One of the biggest uncertainties in the world of cryptocurrencies, the Ripple-SEC case, continues to see significant developments. Following decisions in favor of the company and its officials in July last year, there was a noticeable movement in XRP‘s price, which attracted significant attention from XRP supporters worldwide. Recently, company official Brad Garlinghouse made an important statement about the future of the case.
Ripple Labs CEO Speaks Out
Brad Garlinghouse, CEO of Ripple Labs, a prominent figure in the cryptocurrency world currently fighting a personal battle with the SEC, states that the SEC will ultimately lose its long-standing battle against cryptocurrencies.
CEO Garlinghouse participated in the World Class podcast. In a new interview during the podcast, he mentioned that the SEC’s anti-crypto stance and sanctions are largely meaningless.
Garlinghouse’s statement in the podcast highlighted the following:
“They will lose in the long run. If you look at the continuous growth of crypto over a decade, it’s nothing. This is just a speed bump because I am very optimistic about the future of crypto. Twenty years from now, we’ll look back and say, ‘God, that was awful.’ But you know what, it’s just a small bump.”
“In my opinion, the market will be very, very, very, very large, measured in trillions, and it will change the way many transactions are processed because it’s a way to reduce friction, lower costs, [and] make things more efficient. In the long run, the best technology usually wins.”
Garlinghouse also made a statement about the development of the crypto industry. He affirmed the definite progress in cryptocurrencies, adding that even the US dollar, one of the best-managed fiat currencies, is losing its purchasing power over time.
“It’s inevitable. We’re talking about a $2.5 trillion market value right now. Look, do I think it will increase tenfold in the next five to 10 years? Yes, no problem… This feels secure.”
XRP Price Outlook
Alongside Garlinghouse’s statements, everyone is also watching XRP, which is at the center of the SEC case. XRP’s price appears to be experiencing a slight rise today.
As of the time of writing, XRP’s price has risen by 0.93%, continuing to trade at $0.5107. XRP’s market cap has also increased to $28.2 billion during this period.
XRP’s 24-hour trading volume is just under $1 billion, following a 162% increase in the last 24 hours. This increase, coupled with the price rise, can be interpreted as a sign of growing investor interest in XRP in the market.
It is important to remember that any positive news from the SEC case later this year could have much greater effects on the price. It is worth recalling that even an interim decision last July-August nearly pushed XRP to nearly $1.
