Ripple’s CEO Brad Garlinghouse expresses disappointment that XRP has not been appreciated by the crypto market for its unique position. Garlinghouse shared his thoughts during an interview at the recently concluded XRP Ledger Apex conference, emphasizing that XRP is the only cryptocurrency in the U.S. with regulatory clarity.
In comparison to Ethereum (ETH), the largest altcoin, Garlinghouse pointed out that XRP is one of the few cryptocurrencies in the U.S. that can be definitively classified as not a security. On the other hand, ETH’s regulatory status remains uncertain, with the U.S. SEC issuing warnings to its founders about a potential lawsuit.
The market’s response to XRP’s regulatory advantage has been surprising to Garlinghouse, especially after a court ruling on July 13, 2023, confirmed that XRP is not a security. Despite this, XRP’s value has not reflected its unique position in the market, which has puzzled many observers.
Following the positive court ruling on XRP’s regulatory status, the cryptocurrency initially saw a significant increase in value, but it has since underperformed in the crypto market. Despite major U.S. exchanges relisting XRP and investment firms reinstating it in their products, XRP’s value has not seen significant growth.
While other cryptocurrencies experienced a bull run, XRP’s price stagnation has been attributed to a lack of demand rather than Ripple’s routine sales. It remains to be seen how XRP will fare in the evolving crypto market landscape. As always, readers are advised to conduct thorough research before making any investment decisions.