XRP Hits Two-Year High as U.S. Regulations Ease

Ripple CEO Brad Garlinghouse thinks it's all about the growing optimism around U.S. regulations.

XRP price has been surging lately, hitting a two-year high. According to Ripple CEO Brad Garlinghouse, the main driver behind this surge is the growing optimism around U.S. crypto regulations.

In a recent interview with Fox Business, Garlinghouse highlighted the shift in the regulatory landscape, which is boosting investor confidence in cryptocurrencies. He noted that the U.S. had been "attacking" the crypto industry for years, but now, with a "crypto president" like Donald Trump, things are changing for the better.

"Markets have responded to Trump's win — he's bringing crypto back to America (making crypto great again?! MCGA!) The incoming congress will make sure US innovation gets the regulatory clarity it deserves," Garlinghouse tweeted.

Moreover, the Ripple CEO emphasized the importance of crypto-friendly policies, especially for U.S.-based cryptocurrencies like XRP, Solana (SOL), and Cardano (ADA).

Interestingly, Garlinghouse also pointed out that XRP is benefiting from the cooling-off period in the U.S. Securities and Exchange Commission's (SEC) interest in crypto. According to him, the SEC had been "holding back" crypto growth earlier, but now, with Trump planning to bring pro-crypto leaders, XRP is seeing big gains.

"Now, we have a President who sees the opportunity, who sees the innovation, who sees the entrepreneurship. And I think that's a game-changer for crypto in the U.S., and certainly, XRP is benefiting from that," said Garlinghouse.

Another factor contributing to XRP's price surge is the increased interest from whales. Data from Deribit shows a 13% increase in the XRP derivatives market, and large transactions, such as a $52.8 million move, indicate strong involvement from large investors.

Currently, XRP is trading at $0.91, and many experts anticipate that it will soon cross the $1 mark. Some even predict it could reach $1.50. If the positive regulatory climate persists, XRP may continue to ascend.

However, it's important to note that about 65% of futures trades are still short, indicating that some investors are betting against the XRP price rise.

Despite the promising outlook, XRP's future remains uncertain, given the inherent volatility of the crypto market. Nonetheless, a Trump presidency and a pro-crypto administration could pave the way for further growth in the U.S. crypto landscape.

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