Ripple’s XRPUSD token found support after comments from the company’s CEO and the end of a long-running regulatory case.
XRPUSD – Daily Chart
The price of XRP found support at 2.01 and now has resistance ahead at 2.70.
On March 19, the SEC settled its lawsuit with Ripple Labs, and the company is now looking at its next strategy in the crypto industry. The company’s CEO Brad Garlinghouse spoke of an Initial Public Offering, saying, “The company’s at a stage where we could consider that,” however, “but it isn’t a huge priority”.
“This is an industry that will finally be able to thrive in the United States, the world’s largest economy,” hinting at acquisitions to boost its influence in the blockchain market.
Garlinghouse added, “Ripple, at its core, is a blockchain infrastructure company, and we’ll look at other things that are blockchain infrastructure companies”.
Garlinghouse claims that custodial and payment services offer significant growth potential for the company. Ripple is seeking to offer secure storage services and financial institutions are looking at custodial solutions for tokenized assets as regulatory fears are clarified.
In payments, the company is working on fixing inefficiencies created by slow global transfers. Garlinghouse said, “Wires are slow,” referring to a five-day wait on a euro transfer he had just made. He also spoke of the increased use of stablecoins as clarity emerges from Washington support.
The US SEC spent years arguing that the native XRP asset was an unregistered security and the case dragged on for four years. Ripple was unable to make any strategic moves during that time, but may start to become active in the coming months.
Garlinghouse was also confident that Ripple’s token will be included in the US Strategic Reserve, with the CEO saying:
“XRP was named by the President of Truth Social. He said there’s gonna be a bitcoin strategic reserve and a crypto stockpile that will include things like XRP,” Garlinghouse told Bloomberg. The reserve was set to use Bitcoin that was seized by Federal prosecutors but XRP may benefit from outright purchases in the future.
There is also hope for a “wave of XRP ETF approvals” in the second half of 2025, with a growing list of over ten applications pending with the SEC from firms like Bitwise and Franklin Templeton.
“I have immense confidence in the ETFs,” Garlinghouse said.
