The upcoming change of the SEC chairman brings a glimmer of hope to the long-standing "Ripple case," and just as XRP is surging due to incentives, Ripple CEO Brad Garlinghouse provided a thought-provoking response regarding the rumors of "his meeting with Trump," further igniting market enthusiasm and driving XRP's weekly increase to 100%.
Ripple CEO Brad Garlinghouse discussed his thoughts after Trump's victory in the U.S. presidential election during an interview with Fox Business last week and was asked about external speculation regarding "his meeting with Trump after the election to discuss cryptocurrency policy."
In response, Brad Garlinghouse neither confirmed nor denied, merely pointed out that "I do not intend to discuss too many details," but the host believes that his response is tantamount to "acknowledgment," stating, "In my opinion, this is a confirmation."
Nevertheless, there is still no evidence confirming that the two have met, while Brad Garlinghouse himself emphasized that he actively participated in this year's election and stated he focuses on supporting cryptocurrency innovation and establishing clearer regulatory policies.
Brad Garlinghouse stated, "We have always supported cryptocurrencies and emphasized innovation," believing that Congress and the new government should recognize the new opportunities presented by cryptocurrencies and move towards more transparent regulatory policies.
He also criticized the current approach in the U.S. of "replacing regulation with enforcement," calling for reform and believing that if SEC Chairman Gary Gensler resigns, it would help create a more favorable environment for the cryptocurrency market. He added, "The cryptocurrency industry supports Trump, and Trump embraces us; this is sincere."
Since the election day, XRP has risen over 70%, and the best-performing crypto assets are all from American companies or technologies, which should not be surprising.
The legal battle between Ripple and the U.S. SEC is still ongoing, as the agency recently attempted to appeal part of Judge Analisa Torres' ruling, but if Gary Gensler truly resigns, it may affect the direction of this case.
According to CoinGecko's market quotes, XRP rose 11.6% to $1.17 today (18th), with a weekly increase of 102.7%.
Meanwhile, trading volume in the XRP futures market has surged, with open interest currently reaching a historic high of $2.13 billion, indicating increased investor interest in XRP.
Nick Forster, founder of the DeFi protocol Derive, stated: "The surge in open interest for XRP futures reflects bullish market sentiment." He added that this also shows new market traders are seizing trading opportunities in XRP.
