Crypto lawyer Bill Morgan reaffirmed a statement by Ripple CEO Brad Garlinghouse noting the trajectory of XRP’s challenges in the last four years. In a post on X, Garlinghouse noted that XRP was once the second most valuable digital asset before the SEC sued Ripple.
“A lot has happened since XRP was the 2nd most valuable digital asset.”
Indeed. It’s now 8th https://t.co/LCulq88BLZ
— bill morgan (@Belisarius2020) November 11, 2024
Garlinghouse highlighted the potential benefits the Trump administration could bring to crypto and appreciated the XRP community for supporting Ripple throughout the litigation process. The Ripple CEO described the SEC’s lawsuit against Ripple as a “frustrating journey.” According to Garlinghouse, the SEC started meddling in crypto affairs six years ago, picking winners and losers.
However, the fintech expert noted that the SEC only sued Ripple four years ago in a litigation process that has lasted. Meanwhile, he stated the crypto community is beginning to see light at the end of the tunnel as external factors, which he thinks are unnatural and manipulative, fade.
XRP Gains Momentum with Over 25% Price Surge
Garlinghouse highlighted a positive trend in the cryptocurrency market, describing it as “headwinds turning to tailwinds.” He believes this shift indicates growing market momentum, presenting opportunities for long-term XRP supporters.
This optimism aligns with XRP’s recent price surge. The altcoin rose from $0.4957 last Monday to a local high of $0.6186 over the weekend, marking a gain of more than 25% before slightly retracing to $0.5802 at the time of writing.
Read also :Ripple Secures Big Legal Win, But Questions Remain on the Victory
Notably, Garlinghouse and most XRP supporters think the SEC’s litigation against Ripple is unmerited and that a crypto-friendly commission would bring the prolonged court case to a conclusive end. Doing so would most likely boost investor confidence in XRP and may lead to an influx of funds into XRP as the crypto asset attempts to reclaim its top spot alongside other highly performing altcoins.
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