Ripple CEO Brad Garlinghouse recently held discussions with U.S. lawmakers in Washington, D.C., to advocate for clearer regulatory frameworks for cryptocurrencies.
According to Garlinghouse, there is a strong opportunity to advance bipartisan legislation that would provide a constructive approach to crypto regulation in the country. He expressed optimism about the progress made during these meetings but did not disclose specific details about the discussions.
The meetings involved key political figures, including Senator Tim Scott and Representative Ritchie Torres, indicating that Democratic and Republican lawmakers engage in regulatory talks. This bipartisan involvement suggests a potential shift towards establishing a structured and transparent regulatory environment for digital assets in the U.S.
Also Read: Big News For XRP: Major SEC Update Boosts Investor’s Sentiment
XRP Sees Significant Price Movement Amid Regulatory Developments
XRP, the cryptocurrency associated with Ripple, experienced a notable price surge in response to recent regulatory developments. Over the past 24 hours, XRP recorded an 8.56% increase, moving from $2.55650 to a high of $2.77664 before stabilizing at $2.74107.
The price movement aligned with Bitcoin’s rise, as BTC surged by 1.8%, reaching $97,040 after gaining approximately $2,000 in just 14 hours.
XRP experienced its price increase after the Securities and Exchange Commission of the U.S. approved an XRP exchange-traded fund application. SEC’s acknowledgment of the XRP exchange-traded fund (ETF) filing represents a significant regulatory transformation that can strengthen investor support for XRP in the market.
According to analysts, the regulatory framework for digital assets will determine how market experts forecast their future development. Lawmakers and industry leaders maintain active discussions as evidence indicates the U.S. government works to create standardized cryptocurrency regulations.
The ongoing efforts by Ripple’s leadership to engage with policymakers highlight the increasing importance of regulatory clarity in the crypto sector. The developments from these discussions could influence market sentiment and drive further interest in digital assets.
As regulatory frameworks take shape, investors and industry stakeholders will closely monitor how these policies impact the broader cryptocurrency landscape.
Also Read: XRP Price Skyrockets 11.99% After Mysterious $1 Billion Ripple Transfer Shocks Market
