Ripple CEO updates his prediction on end of SEC proceedings in Bloomberg interview

Ripple CEO updates his prediction on end of SEC proceedings in Bloomberg interview

Brad Garlinghouse was once again the guest in an interview for the global news agency. This time it took place on March 2. The CEO of the company behind the XRP token gave an update on the predicted closure of the case with the SEC. He also stressed its importance for the entire cryptocurrency sector.

XRP will soon be freed from the burden of the SEC

The Securities and Exchange Commission (SEC), has been trying for more than two years to prove in court that XRP, during its ICO phase, was distributed as an unregistered security. Despite the extended length of the proceedings, a decision on the case is still pending. Ripple’s lawyers, standing by XRP, defend the token and point out the differences between digital assets and any other assets. In their view, the traditional asset evaluation system does not apply here. In doing so, they give a number of predictions about the timing of the eventual end of the dispute. Among them, the most frequently heard is John Deaton, who acts as a representative of XRP hodlers. He expected until recently that the case could end as early as March of this year. In doing so, he had no doubt that Ripple would win. A completely different view, however, is held by SEC representatives, who stand firmly by their position.

Garlinghouse predicts

During an interview with Bloomberg, Garlinghouse stressed that the dispute is very long, but at the same time takes as little time as possible. He also pointed out that it should have been conducted in a very deliberate manner, as its outcome has the right to affect the entire cryptocurrency market. In his words:

“So I think people realized that the SEC bringing the case against Ripple was not really a case about Ripple or about XRP. It was really about how the SEC was playing offense and attacking the entire industry…. Now it’s widely understood.”

Moving toward the merits, however, he stated what XRP hodlers are by far most interested in:

“The litigation has been fully briefed in federal court, and we are indeed looking forward to a decision, which will certainly come in 2023.”

XRP continues to consolidate

Despite the improving news regarding the trial, which seems to be coming to an end, XRP continues to be unresponsive. The price is consolidating in a wide band, between $0.35 and $0.40, with clear, equally wide resistance ahead.

The XRP, on the other hand, is much more interesting in relation to Bitcoin. Here, too, a broad consolidation of more than two years is underway. However, the token’s price has reached an upward trend line, coinciding with horizontal support, and there are many indications that it is preparing for a rebound.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this article

More news


XRP outperforms Bitcoin and Ethereum

In the past week, XRP decisively outperformed its main rivals, Bitcoin (BTC) and Ethereum (ETH), in terms of capital flows. Moreover, it recorded an impressive $2.7 million…

Solana and Avalanche on the eye of investment funds

Two alternative coins, Solana (SOL) and Avalanche (AVAX), are gaining increasing interest and are successively attracting the attention of investment funds. Although bitcoin (BTC) remains the main…
All articles loaded
No more articles to load


Cryptocurrency wallets

Cryptocurrency wallets

We talked about security when trading crypto assets in an article titled “Online security“. We also mentioned how important it…
hardware wallets

Cryptocurrency hardware wallets

From the article titled “Cryptocurrency wallets” you learned about the different types of wallets. They were briefly characterized there. Let’s…
Where to buy cryptocurrency brokers

Which cryptocurrency Brokers to use

In the article “Where to Buy Cryptocurrencies (Exchanges)“, we introduced you to which exchange platforms you can purchase cryptocurrencies on.…
Trading cryptocurrencies

Trading cryptocurrency

In the cryptocurrency market, you face many opportunities to invest in cryptocurrency or buy or sell cryptocurrency. If you want…
All articles loaded
No more articles to load


All articles loaded
No more articles to load

Latest news

All articles loaded
No more articles to load