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Ripple CEO Brad Garlinghouse has expressed optimism about the possibility of the United States setting up a constructive regulatory framework for cryptocurrencies. The statement comes as the XRP price spikes by 8.56% over the past 24 hours, with the token trading at $2.74107.
According to reports, a massive amount of 430.8 million XRP was transferred on the market, which could be a significant factor in the sudden surge. The transfer is believed to have been initiated by an anonymous wallet and another unknown crypto whale who withdrew funds from Coincheck, a Japanese cryptocurrency exchange.
The price surge follows news that the Securities and Exchange Commission (SEC) has acknowledged Ripple’s ETF filing. This development could potentially pave the way for greater regulatory clarity in the US.
In response, Garlinghouse has expressed confidence in the possibility of the US adopting a more favorable regulatory stance. He stated that he sees high odds of this happening, given the growing awareness and interest in digital assets among policymakers.
It’s worth noting that the price of XRP has increased by 8.56% over the past 24 hours, mirroring the surge experienced by Bitcoin (BTC) which rose by 1.8%.
Source: u.today
