XRP outperforms Bitcoin by a mile, as Ripple CEO expresses confidence in the ongoing litigation with the US Securities and Exchange Commission.
The price of XRP has recently witnessed a continuous surge, outperforming Bitcoin (BTC), the firstborn crypto. Specifically, CoinMarketCap data suggests that for two weeks straight, XRP has maintained double digits growth.
While BTC barely saw a 2.32% cumulative seven-day growth, XRP is far ahead with 12%, according to data from the prominent market tracker, CoinMarketCap.
In a recent report, Forbes attributed XRP’s continued appreciation to the latest statements from Brad Garlinghouse, Ripple’s CEO, who has expressed confidence that the long-running legal battle with the U.S. Securities and Exchange Commission (SEC) is nearing its end.
Garlinghouse recently made a bold prediction, stating that he believes the case will conclude in “weeks, not months,” as reported by The Crypto Basic. Following this statement, XRP has printed double-digit gains over the past week, coinciding with a drop in the value of Bitcoin.
Garlinghouse’s confidence mainly fueled optimism among XRP investors. Ripple’s landmark victory regarding Hinman’s documents also compounded this optimism.
Hinman’s Docs Will Be out in June
During a YouTube interview with Tai Panich, the CEO of technology investment firm SCB 10X, Garlinghouse highlighted recent courtroom developments that he considers a “huge win for transparency.”
He pointed to a potential date, June 13, when certain documents may be released to the public, including notes and emails associated with an important speech by Bill Hinman, the former director of corporate finance at the SEC.
“The court just ruled last week that the notes in the emails associated with that are going to be made public and should be public around June 13. So I think that’s a huge win for transparency,” Garlinghouse said.
He also emphasized that Ripple’s decision to defend itself was not only for the company’s benefit but also for the entire crypto industry. The CEO further stated that regulatory actions drive US-based crypto companies to explore alternative options overseas.
Notably, Ripple’s ongoing legal battle with the SEC has garnered support from the wider crypto community, which eagerly anticipates a favorable judgment from the court. A pro-XRP lawyer recently expressed that Ripple’s victory would shoot XRP’s price above $2.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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