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Ripple CEO Statement Acts As A Catalyst For XRP Token Price

Ripple CEO Statement Acts As A Catalyst For XRP Token Price

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A statement made by Ripple’s CEO in a television interview drove the price of the XRP token up 34% within 24 hours.

Ripple is a San Francisco-headquartered Fintech company that provides cross-border payment services using the XRP token based on its centralized XRP blockchain technology. Since December 2020, Ripple has been under huge legal hurdles due to a public lawsuit initiated by the US Securities and Exchange Commission (SEC). According to the SEC, Ripple’s original token XRP is an unregistered security and also violated securities laws by selling more than $1.2 billion worth of unregistered securities publicly.

At the time of writing this article, the price of the XRP token is $0.543 and this price is 28.85% higher than the trading price of the last 24 hours.

Ripple's CEO's statement acts as a catalyst for the price of the XRP token to 1

In the last 24 hours, the lowest and highest price of the XRP token was $0.41 and $0.552 respectively, which is enough for the XRap token to show a price increase thanks to a recent televised statement by Ripple CEO Brad Garlinghouse. to interview.

On Fox Business, Garlinghouse said the U.S. SEC “lost its way” and was a “cuckoo for cocoa vapors.” The CEO of Ripple also said that filling the summary judgment cases is enough for people to know that the SEC is overreacting.

Garlinghouse added:

“They don’t exercise faithful loyalty to the law — that’s a quote from the judge in this case.” Garlinghouse added, “We believe (the judge) has the information necessary to make a decision, and we think it’s very clear that the SEC is grossly overstepping its authority.”

The statements made by the CEO of Ripple also tried to highlight the XRP community to see that the judge of the court is also looking for suitable points from the SEC, but there is nothing.

Garlinghouse also claimed that the judge has enough information to give a final outcome in the XRP lawsuit, and it is also now clear that the SEC is overstepping its authority.

Also read: Vasil Hardfork successfully presents on Cardano mainnet

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