During a recent FOX Business interviewRipple CEO Brad Garlinghouse pointed out that: $XRP has been able to weather the recent cryptocurrency market turmoil better than its major altcoin competitors.
For example, it performed better than its main competitor, Ethereum (ETH).
He added that market focus will increasingly shift to assets with real-world applications. “The more we demonstrate practical utility by using technology to solve real-world problems, the more we see it working for the better,” he said.
$XRP It is currently down 61.5% from its all-time high of $3.65, according to CoinGecko.
Uncertainty surrounding the CLARITY Act
Ripple executives said part of the recent market decline was due to a legislative impasse in Washington. The market experienced a significant correction after the Digital Asset Market Structure Bill failed to pass the Senate.
“The transparency law was pushed and stalled in late January, but that didn’t help,” he explained.
as U.Today reportedWhite House officials have been actively intervening to broker a compromise between the crypto industry and traditional banking lobbies over stablecoin rewards. Meanwhile, Garlinghouse appealed to colleagues not to hold up bills over trivialities.
“Our position is that perfection cannot be the enemy of progress. There is no perfect bill,” he said. He recalled Ripple’s own long legal battle with the SEC and stressed that regulatory certainty is needed for the broader sector to survive. “The industry cannot remain in limbo, so for the industry to thrive in the United States, we need to make our case for the Clarity Act a reality.”
He also criticized the previous administration’s regulatory approach, declaring that “the war the Biden administration has waged against cryptocurrencies has failed in the courts.”
wall street fusion
Garlinghouse pointed out that traditional financial institutions have recently seen a major shift in how they view digital assets.
Commenting on recent pro-crypto statements by legacy banking executives such as Goldman Sachs CEO David Solomon, he acknowledged a new era of adoption.
“The tide has changed dramatically,” Garlinghouse said. “This means that the traditional financial industry is moving into the crypto industry. They increasingly want to be able to compete with clear rules.”
Since 2023, Ripple has spent about $3 billion on acquisitions to expand its treasury management and prime brokerage services. Garlinghouse sees a growing desire among corporate executives to integrate cryptocurrencies directly.
“‘More and more companies are looking for exposure to asset classes on their balance sheets,'” he said.
However, after aggressive expansion, the CEO confirmed that Ripple will focus on integrating new acquisitions rather than acquiring more companies for the time being. “We’re going to slow down before we speed up,” he concluded.
