Bitcoin (BTC) and altcoins have experienced huge declines in a short period of time. While Bitcoin tested $60,000, Ethereum and altcoins also fell by double digits.
One of these altcoins is $XRPis currently trading around 70% below its all-time high of $3.65.
meanwhile $XRP‘s decline sparked debate in the market, with former CFTC Chairman Chris Giancarlo unexpectedly praising it. $XRP.
Chris Giancarlo praises on Paul Barron Podcast $XRPdescribes it as a rare example of resilience in the face of strong regulatory pressure.
Giancarlo said: $XRP It has been able to remain operational and effective despite strict regulations in the United States.
At this time he claimed: $XRP The company has shown great resilience and survived despite intense regulatory scrutiny, particularly during the terms of SEC Chairman Gary Gensler and Sen. Elizabeth Warren.
Giancarlo’s highlights $XRPthe Company’s ability to remain operational and relevant despite being the focus of aggressive regulatory action, such as the SEC v. Ripple litigation;
At this point, Giancarlo urged the market to respect the following: $XRPResilience in the face of these challenges.
Giancarlo concluded by saying that banks are likely to accelerate the adoption of blockchain technology as regulatory clarity increases.
The prominent figure cited initiatives like Canton Blockchain, launched by Goldman Sachs, BNP Paribas, and Deutsche Börse, as examples of blockchain’s potential in corporate finance.
According to Giancarlo, once clear rules emerge in the cryptocurrency space, institutions will have no choice but to embrace and adopt blockchain technology. $XRP Ledger or other blockchain system. He believes that the future of finance is not under the control of a single blockchain like Canton, Ethereum, or XRPL, but in multichain structures.
*This is not investment advice.
