In a recent FOX Business interview, Ripple Labs CEO Brad Garlinghouse offered insights into how the “Trump trade” is influencing cryptocurrency prices, citing Bitcoin’s record-breaking performance over the past 48 hours. Garlinghouse also shared his expectations for Ripple and the broader digital asset industry under the regulatory framework anticipated during Donald Trump’s presidency.
Ripple’s Focus and Critique of Current Regulations
Garlinghouse highlighted Ripple’s commitment to addressing inefficiencies in traditional cross-border payments, describing them as “slow and expensive.” Ripple leverages XRP to create faster and more cost-effective solutions.
Criticizing the Biden administration’s approach to digital assets as an “unlawful war,” Garlinghouse expressed optimism about Trump’s potential pro-crypto stance. He noted that the ongoing SEC lawsuit against Ripple has “frozen” the company’s market potential in the US, with 95% of Ripple’s customer base now located abroad.
Garlinghouse emphasized the need for updated regulations, arguing that the current framework, including the Howey Test, is outdated and inadequate for the modern crypto sector. He expressed hope that a Trump-led administration would deliver clearer guidelines, enabling the SEC and CFTC to foster industry growth.
US as a Potential Digital Asset Leader
Garlinghouse and Coinbase’s Chief Policy Officer, Faryar Shirzad, both underscored the importance of a collaborative regulatory environment. Shirzad referenced Trump’s private meeting with Coinbase CEO Brian Armstrong as a sign of the administration’s interest in advancing the crypto agenda.
Garlinghouse echoed these sentiments, envisioning the US as a global hub for digital assets within the next decade. He highlighted the importance of appointing an SEC chair who can work constructively with Congress to bridge regulatory gaps.
XRP Market Performance
XRP has seen significant gains, trading at $1.10—a 104% surge in two weeks following Trump’s election victory. Despite this growth, XRP remains 67% below its all-time high of $3.04, reached nearly seven years ago.
Garlinghouse concluded the interview with an optimistic outlook, suggesting that the US has a unique opportunity to position itself as a leader in blockchain and digital assets under a more supportive regulatory regime.
