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Ripple has officially unveiled Ripple USD (RLUSD), confirming RLUSD as its forthcoming stablecoin trading symbol. This announcement first came from Ripples…
The post Ripple Officially Introduces Ripple USD (RLUSD) Stablecoin first appeared on The Crypto Basic.
Ripple CEO Brad Garlinghouse again takes a critical stance towards Dogecoin, asserting that he does not believe DOGE has been…
The post Dogecoin Under Fire As Ripple CEO Questions its Value to Crypto Industry first appeared on The Crypto Basic.
Ripple Labs has announced a major acquisition to shock the market out of an otherwise dreadful week. Taking to X (formerly Twitter), the crypto firm announced that it has acquired Hidden Road, a brokerage, clearing, and financing firm as it moves forward in its mission to become the leader for institutional investors moving into the digital assets space. Ripple Acquires Hidden Road For $1.25 Billion The Tuesday announcement by Ripple has further solidified the mission that the crypto firm has long put forward, and that is to provide instant and quick transfer of value for traditional and institutional investors coming into the digital assets space. Related Reading: Crypto Pundit Reveals What Will Happen If XRP Price Does Not Break $2.3 As CEO Brad Garlinghouse explained in a separate X post, the decision to acquire Hidden Road for $1.25 billion comes after a long-standing customer relationship with the company. Garlinghouse revealed that Ripple understands the breadth of Hidden Roads expertise, making it a prime candidate for the acquisition. The integration of the XRP Ledger by Hidden Road will allow for cheap and fast movement of value to the brokerages customers, which moves over $3 trillion annually. A portion of this massive value is expected to move through the ledger, as well as using the RLUSD stablecoin as collateral for brokerage services. Additionally, Hidden Road will be able to expand its capacity for value transfer, allowing Ripple to process even more volume. With this deal and the backing of Ripples significant balance sheet, Hidden Road will exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally, Garlinghouses post read. This acquisition comes after Ripple acquired Standard Custody back in February 2024. Standard Custody provided an online platform offering clients digital asset custody solutions, enabling Ripple to move into the custody market as well. XRP Price Responds Despite the Ripple announcement, the XRP price has remained muted as it continues to struggle below $2, which has since turned to resistance. At the time of writing, XRP is still holding at $1.96, despite its almost 10% in the last 24 hours. Related Reading: Crypto Analyst Warns Of Volume Drop That Could Trigger 60% Bitcoin Price Crash To $49,000 According to data from Coinmarketcap, the XRP daily trading volume has seen a notable decline, dropping approximately 24% in the last day. This suggests a decline in participation from investors, due to the bearish headwinds that continue to blow through the crypto market. A recovery from here is highly dependent on Bitcoin, which continues to dominate the market and lead the charge. Chart from Tradingview.com
The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse, has revised his earlier ambitious prediction on the crypto industrys future market capitalization, acknowledging that he had underestimated the markets potential surge. Ripple CEO Underpredicts Crypto Market Cap Appearing in a recent interview with Fox Business, Garlinghouse shed light on the growth potential of the cryptocurrency market as well as its performance since the beginning of the year. The Ripple CEO was questioned about his previous optimistic forecast for the crypto industrys market capitalization, in which he projected that the market cap would double to approximately $5 trillion by the end of the year. According to CoinMarketCap, the current global cryptocurrency market capitalization stands at roughly around $2.25 trillion. Related Reading: Heres What Would Happen If The Bitcoin Price Fell Below $58,000 In response to the inquiry, Garlinghouse expressed his belief that his previous predictions were not overly ambitious, emphasizing the markets potential for further growth. He admitted to underpredicting the industrys potential market capitalization by the end of 2024, citing factors such as the current supply and demand dynamics driving additional increases. Garlinghouse noted that the current market conditions are characterized by increased demand and reduced supply, with these dynamics playing a significant role in the performance of cryptocurrencies. He disclosed that the Spot Bitcoin ETF market and the overall sentiment regarding Bitcoins value have significantly boosted demand for the cryptocurrency. Meanwhile, Bitcoins supply is diminishing due to the increasing number of large-scale investors purchasing the cryptocurrency rapidly. Additionally, the impending Bitcoin halving event is expected to further decrease the cryptocurrencys supply. Assessing the current state of the crypto market, Garlinghouse stated that since the last six months, Bitcoin has been up by more than 250%, with further increases anticipated. He also asserted that this overperformance was largely driven by the approval and launch of Spot Bitcoin ETFs as well as the upcoming Bitcoin halving. Regulations Are Vital For Market Development Garlinghouse has disclosed that establishing proper regulatory frameworks for the cryptocurrency market would yield positive outcomes for the market in the future. He explained that one of the primary factors hindering the growth of this evolving market was the United States prevailing anti-crypto stance, suggesting that the countrys enforcement actions on the developing industry were problematic. Related Reading: Goldman Sachs On Bitcoin Halving: It doesnt Matter If Its A Buy The Rumor, Sell The News Event The Ripple CEO highlighted several countries, including Dubai, Singapore and the United Kingdom, which have been proactively embracing cryptocurrencies and implementing proper regulatory systems to foster further growth in the market. Garlinghouse has asserted that the US has significantly lagged in recognizing the transformative and innovative impact of the cryptocurrency market, attributing this setback to the United States Securities and Exchange Commission (SEC) and its current Chair, Gary Gensler. Total market cap at $2.2 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from Bitcoinist, chart from Tradingview.com
Ripple CEO’s recent action sparks speculations of an imminent IPO among crypto enthusiasts as NASDAQ acknowledges Ripple’s latest acquisition. Brad Garlinghouse, CEO of Ripple, recently acknowledged the possibility of an upcoming initial public offering (IPO) following the resolution of a regulatory case in the United States. Specifically, over the weekend, Garlinghouse was captured liking a […]
The post Ripple CEO Reacts as NASDAQ Congratulates Ripple’s METACO Acquisition: Is IPO Cooking? first appeared on The Crypto Basic.
Ripple CEO criticizes SEC’s crackdown on the crypto scene, blames the agency for industry mess, and calls for legislative clarity to protect investors. Brad Garlinghouse, the Chief Executive Officer of Ripple CEO, recently criticized the US regulator on Twitter concerning protecting retail investors in the crypto space. He expressed that the mess the crypto industry […]
The post Ripple CEO Says SEC Created a Mess Claiming Cop on Crypto Beat without Legal Jurisdiction first appeared on The Crypto Basic.
The world of crypto regulation is evolving as different regions are taking different approaches globally. Recently, Ripple CEO Brad Garlinghouse expressed his cautious optimism concerning [...]
XRP price remains defiantly bullish as the crypto community prepares for a massive rally likely to be triggered by a potential win against the United [...]
Ripple CEO Brad Garlinghouse has said that he is optimistic about the company getting a ruling about its legal dispute with the Securities and Exchange [...]
During the feverish FTX turmoil news cycle, Ripple CEO Brad Garlinghouse weighs in with a new comparison, FTX’s fraud with Wells Fargo funds mismanagement. Brad tweeted that although SBF and FTX’s fraud has rightfully outraged the globe, it hardly registers on the news when Wells Fargo mismanages billions of dollars in consumer assets. Where the local community […]
Ripple (XRP) price has registered an impressive 33% advance above the key resistance zone as seen in the past week. XRP notably spikes by 10% on September 22 Ripple confident to win legal feud against SEC The token also skyrocketed 10% as seen on September 22, as the crypto market plunged in a sea of red. Although a bit of improvement with Bitcoin raking up gains by 4.9% and Ethereum spiking by 7.3%, XRP was still leading that day. According to CoinMarketCap, XRP price is up by 4.47% or trading at $0.5051 as of this writing. Related Reading: Polkadot Suffers 10% Weekly Loss On Hawkish Fed – Time To Buy DOT? Update On Legal Feud With SEC Raises Investor Optimism XRP price demonstrates a surge of over 45% as seen since August. Reportedly, Ripple Labs has recently filed a motion for summary judgment on September 18 which involves allowing the court to wrap it up and make a final decision based on the facts presented in line with whether XRP is to be considered a security. The recent update on the legal proceedings has stirred some optimism and pumped up investor sentiment regarding the long-term haul of XRP. More so, the open interest of XRP has notably improved as it has increased to $575 million from just $310 million in the past week. Traders who are looking to get in should wait for the 200-day EMA set at $0.48 to see if it would swing to support in the coming days. As of press time, XRP’s total market capitalization is at $25.14 billion as it climbed by $3 billion the previous day. Related Reading: What Ethereum Can Bring On The Table For ETH Investors In Q4 Image: CoinMarketCap XRP Seen With Strong Bullish Strides On the daily chart, the XRP price is noted to have bounced back after it dropped and is now enjoying a bull run. The bulls are targeting to breach the key resistance spotted at $0.4306 and once this is done, XRP could shoot for $0.49 next. Amid the optimism shown by XRP, a breach targeted at the key support zone of $0.392 will reveal signs of buyer weakness. More so, this will also invalidate the bullish thesis and give the power back to the bears. If this happens, the XRP price could plunge and revisit the key support zone at $0.38. XRP is seen to move with strong strides despite the hurdles experienced by the broader crypto market. The bullish streak is associated with the robust developments happening in the legal battle between Ripple and SEC. Although both SEC and Ripple agreed to a summary judgment, Ripple seems to be more confident that they’ll win following several tweets by Stuart Alderoty, Ripple’s legal counsel, saying that SEC wasn’t able to satiate the Howey Test set by the Supreme Court. The Howey Test helps regulators assess and categorize an asset as a security. More so, Brad Garlinghouse, Ripple CEO, firmly believes that SEC may not be keen on abiding by the law but would want to remake it. XRP total market cap at $24.3 billion on the daily chart | Source: TradingView.com Featured image from Crypto Daily, Chart: TradingView.com
Brad Garlinghouse says he has had no contact with Kyle Roche of Roche Freedman. Ripple CEO Brad Garlinghouse, in a tweet on Monday, has refuted allegations by crypto whistleblower Crypto Leaks that he funded a crypto law firm run by Kyle Roche to target competing crypto firms in lawsuits to divert the attention of […]
The post Ripple CEO Brad Garlinghouse Denies Claims That He Funded A Law Firm To Target Competitors first appeared on The Crypto Basic.
The post Ripple CEO Brad Garlinghouse Denies Claims That He Funded A Law Firm To Target Competitors appeared first on The Crypto Basic.
Garlinghouse does not think much will change as Ripple is already operating as if it has lost the lawsuit. Many cryptocurrency enthusiasts are optimistic that the Securities and Exchange Commission’s lawsuit against Ripple would end in favor of the blockchain company. However, there is no guarantee to these claims, as it is possible […]
The post Brad Garlinghouse Discloses Ripple’s Next Line of Action If the Company Loses SEC Lawsuit appeared first on The Crypto Basic.
Garlinghouse chose which regulatory agency is best for the cryptocurrency market amid the company’s ongoing lawsuit with the SEC. Following the argument about which regulatory watchdog between the CFTC and the SEC should be the most appropriate to regulate cryptocurrencies, Brad Garlinghouse, the CEO and founder of Ripple has made his opinion known on […]
The post Ripple CEO: CFTC Appropriate Regulator to Oversee Crypto Market Not SEC, As US Only Country On Planet To Consider XRP Security appeared first on The Crypto Basic.
Ripple’s Transparency has continued to be one factor that has lured investors to adopt the cryptocurrency. The lawsuit filed against Ripple by the Securities and Exchange Commission (SEC) has been one of the biggest cases in the cryptocurrency industry. Enthusiasts Still Committed to Ripple Amid Lawsuit Ripple enthusiasts are still solidly standing behind the blockchain […]
The post Attorney John Deaton Says SEC Investigated Ripple For 30 Months and Could Not Uncover Any Fraudulent Transactions appeared first on The Crypto Basic.
Garlinghouse believes the SEC does not care about anything but its interests alone. Brad Garlinghouse, the CEO and founder of payments company Ripple, has slammed the Securities and Exchange Commission for its inability to abide by its laid down rules. The Ripple boss, who is also one of the executives charged in the company’s […]
The post Ripple CEO Brad Garlinghouse Says SEC Can Allow U.S. Fall While Protecting Its Jurisdiction At Expense Of U.S. citizens appeared first on The Crypto Basic.
Ripple CEO: President Biden’s Cryptocurrency Executive Order Is a Win for the Broader Industry Ripple and SEC have reduced the Competitiveness Of the Crypto Industry, As The Only Country in the World That Considers XRP security is the U.S. In a recent interview with Bloomberg, Brad Garlinghouse, CEO and founder of Ripple, applauded President Joe […]
The post Ripple CEO: SEC Has Reduced Crypto Industry Competitiveness, U.S. Only Country In World That Considers XRP Security appeared first on The Crypto Basic.
Big accomplishment for XRP in Ripple-SECm Lawsuit. Ripple Vows to Seek Regulatory Clarity for the Cryptocurrency Industry Amid Favorable Development in the SEC Lawsuit. In what could be described as a major win for the XRP community, Judge Analisa Torres has denied the Securities and Exchange Commission’s request to restrain famous fintech company Ripple from […]
The post Ripple CEO: “If You Weren’t Paying Attention To Ripple-SEC Lawsuit, You Should Be Now, Huge Win For Ripple” appeared first on The Crypto Basic.
Ripple CEO Brad Garlinghouse Praises President Biden’s Crypto Executive Order. The release of the long-awaited Biden administration executive order on cryptocurrencies has become a major topic of discussion in the industry. Several industry players have given their views about the recently-published executive order on the nascent asset class, especially the impact the order will have […]
The post Ripple CEO Brad Garlinghouse Applauds President Biden’s Cryptocurrency Executive Order appeared first on The Crypto Basic.
Rumors started to emerge that SEC Lawsuit v. Ripple Ends in Settlement. The hallmark case between the Securities and Exchange Commission (SEC) and popular blockchain company Ripple has reportedly been settled, sources familiar with the matter stated. The lawsuit, which has lasted for more than a year, is rumored to have come to an end […]
The post SEC Lawsuit v. Ripple Reportedly Ends in Settlement, Ripple CEO Brad Garlinghouse Gives Hint appeared first on The Crypto Basic.
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