Ripple CEO Calls Gary Gensler ‘Political Liability' Over Call For Crypto Compliance

Ripple chief executive officer Brad Garlinghouse heavily criticized U.S. Securities and exchange commission (SEC) Gary Gensler for his latest message around non-compliance in the crypto industry. Gensler's statement comes after US Senator Elizabeth Warren's recent efforts to initiate a bill that effectively bans Bitcoin in the United States.

Timeline of Xrp

XRP price has recently demonstrated a sideways price action, deviating from the overall trend witnessed across the cryptocurrency market and altcoins. Despite a modest 2% growth in the past 30 days, with prices ranging between $0.6427 and $0.5994, a crypto analyst operating under the pseudonym James Crypto has made a bold prediction based on Elliott Wave Theory's interpretation of XRP's monthly chart.

Ripple President Monica Long thinks 2024 will be a “breakout moment” for the crypto space, particularly the decentralized finance (DeFi) sector. Long says crypto is primed to break the “speculative hype cycles” that the industry has been chained to since the origin of Bitcoin (BTC).

Blockchain-based payments firm Ripple Labs can now provide certain digital asset services in Ireland. In a new statement, the San Francisco-based firm says the Central Bank of Ireland (CBI) has just granted its local subsidiary, Ripple Markets Ireland Limited, the license to operate as a Virtual Asset Service Provider (VASP).

Ripple is the largest XRP holder, with most of its holdings so far locked in escrows until 2027. Every month, 1 billion tokens are unlocked and managed by the company, arbitrarily re-locking or keeping its desired share.

Crypto analyst Dark Defender has also weighed in on the recent narratives revolving around the XRP tepid price action. The analyst is choosing not to listen to any of those as he is confident that the future trajectory of the XRP token is bullish.

Ripple's president has shared her crypto predictions, stating that 2024 could mark “the breakout moment where institutional adoption for real-world utility takes off.” She emphasized: “The industry needs to build compliance tooling in a decentralized environment. It's the next frontier of innovation in blockchain.

Attorney John Deaton has opened up about the SEC's legal tussle with Ripple (XRP). In an interview with Thinking Crypto, John discussed the varying opinions within the XRP community about Ethereum but noted the SEC's approval of an Ethereum Futures ETF.

A new technical signal may suggest an upcoming rally for this well-known digital asset. A detailed look at XRP's chart indicates the Relative Strength Index (RSI) has recently reversed and dropped below the median 50 mark.

XRP currently stands at $0.619538, showing a 0.5% drop in the past 24 hours. The coin faces resistance at $0.66 while finding support between $0.55 and $0.51. Despite lingering below its all-time high of $3.84 for six years, many analysts anticipate a surge beyond $10 to $20 in the next bullish crypto market.

The Central Bank of Ireland (CBI) has licensed Ripple's Irish subsidiary, Ripple Markets Ireland Limited, as a registered Virtual Asset Service Provider (VASP), according to a Dec. 19 statement.