The inauguration of the 119th US Congress saw Republicans take control of both the House of Representatives and the Senate for the first time in six years, sparking widespread optimism in the cryptocurrency community.
Ripple CEO Brad Garlinghouse praised the new administration, describing the current Congress as the most pro-cryptocurrency in history.
The optimism came after Trump-backed Mike Johnson was re-elected as House Speaker, raising hopes for positive regulatory changes.
Garlinghouse pointed out that Trump's landslide victory in the recent elections could be a golden opportunity for American cryptocurrency companies that have suffered under the Biden administration and the Securities and Exchange Commission (SEC), as this administration played a role in suppressing many of these companies.
The new inauguration of the US Congress clearly affected the crypto market today, as cryptocurrency prices rose.
Reports have also spoken of meetings between Garlinghouse and Charles Hoskinson, the founder of IOG, with the Trump team to discuss the new regulatory framework for cryptocurrencies, but this news has not yet been confirmed.
With the departure of SEC Chairman Gary Gensler imminent, and Trump preparing to appoint a new, more pro-cryptocurrency chairman, the crypto community, especially the XRP army, is waiting for the resolution of the legal dispute between Ripple and the SEC, which has been going on for more than four years.