Ripple CEO Brad Garlinghouse has taken to the microblogging website X to discuss the future of XRP. In his post, the Ripple boss assured everyone that there is light at the end of the tunnel, thanking the XRP for their support so far. He noted that the company and its token had endured so much since XRP ranked as the second most valuable crypto. However, he clarified that things might change for the better, referring to the optimism under the incoming Trump administration.
The Ripple boss said the company has endured the United States Securities and Exchange Commission (SEC’s) actions over the last six years, with the basic characteristics of an unfair picking of winners and losers. However, he assured users who still believe in the token that it still has enough potential, despite the long legal battle with the United States SEC.
Ripple CEO says XRP will reclaim its top spot
In his interview with BBC, Garlinghouse said he believes the crypto industry will thrive under the incoming Trump administration and the pro-crypto senate. He highlighted factors like a change in the chairman of the regulatory body as a pivotal decision that could overhaul the crypto industry.
The Ripple boss noted that the crypto market had always been able to conform to rules, the regulatory body just failed to make clear ones. Garlinghouse said a change in SEC leadership could mean a favorable outcome in its case with the agency, noting that XRP could also benefit from it. His comments reeked of the collective position the industry has always held regarding regulations.
Ripple CEO Paul Grewal also said the change in leadership could mean the SEC would be open to crypto discussions rather than its enforcement-first approach. He also mentioned that pro-crypto leaders can also make favorable decisions to favor the crypto sector, limiting the SEC’s influence.
Industry experts have also positioned that XRP could benefit from the current momentum, pushing to new highs. With CoinGecko data showing that the asset is stable, analysts are backing the token to hit $1. The token is presently trading at $0.45, with a 24-hour gain of 4.5%, and a 7-day gain of 14%.
Market reports project XRP market boom in Q4
According to Ripples’ report, XRP markets are elevated going into the fourth quarter. The report revealed that XRP volumes on exchanges were up in Q3, with an average volume of around $600-$700 million. XRP/BTC ratio also hit 27%, a significant milestone because Bitcoin’s dominance increased by 3%.
The report also showed that the token saw volatility, with its price moving around the $0.40 to the $0.60 mark. The volatility was as high as 110% in the first half of the quarter before resting at 60% in the second half of Q3. Ripple mentioned that the reason for the decline was due to a range-bound price range.
The firm also recorded increased trading volumes, with larger shares seen in Binance, Bybit, and Upbit. The three exchanges were responsible for over 65% of the entire traded volume during the quarter. The data revealed that while XRP trades against USDT were used more, trade against other fiat pairs rose to 14%. Some exchanges that delisted the token have also relisted it following the court’s verdict.