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HomeCrypto NewsMarketHere’s Why Today Could Be a Historic Day for XRP

Here’s Why Today Could Be a Historic Day for XRP

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Today, July 9, 2025, is shaping up to be one of the most significant days in XRP history.

Particularly, Ripple CEO Brad Garlinghouse is testifying before the U.S. Senate as several major developments converge. This has fueled rising belief within the XRP community that the asset is entering a new era.

In a tweet, Brad Kimes, founder of Digital Perspectives, highlighted the moment’s magnitude, calling it the potential beginning of a “coronation” for Ripple and XRP.

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Brad Garlinghouse Addresses the US Senate

Notably, Garlinghouse is testifying today before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. Ahead of his official appearance, he shared the speech he plans to deliver, titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets.”

Garlinghouse emphasized the need for precise digital asset regulation and a balanced framework that protects consumers while encouraging innovation.

He defended Ripple’s mission to build an Internet of Value using the XRP Ledger. In particular, the CEO emphasized that the company leverages the XRP Ledger and XRP to process payments. XRP is designed to enable rapid, cheap, and scalable transactions.

This is the most significant moment in which XRP and the XRP Ledger have been directly referenced and explained in the halls of the U.S. Senate.

Garlinghouse also stated that from the beginning, Ripple made a deliberate choice to collaborate with policymakers and regulators. The company operates under more than 60 crypto payment and money transmitter licenses, both domestically and internationally.

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Consequently, he called on Congress to pass smart legislation to ensure the U.S. can become a global leader in blockchain and crypto.

Ripple’s Legal Victory Finalized

As Garlinghouse spoke to lawmakers, Ripple’s years-long battle with the U.S. SEC is also coming to a close. The lawsuit, which began in 2020, questioned whether XRP was a security. 

However, Ripple won the argument against the SEC, a fact Garlinghouse highlighted to the Senate committee.

The victory confirms that XRP is not, in and of itself, a security. This conclusion clears the regulatory cloud that has loomed over XRP for years, giving institutional and retail investors renewed confidence.

Launch of RLUSD and Fed Ambitions

Notably, Garlinghouse’s testimony comes just months after Ripple launched its U.S. dollar-backed stablecoin, RLUSD.

Even more significantly, it comes days after Ripple filed for a national banking charter and a master account with the Federal Reserve. These moves would allow Ripple to operate more like a full-scale financial institution within the U.S. banking system.

The alignment of all these events is stirring excitement across the XRP community. Supporters believe it could mark the beginning of a new phase of adoption and utility for XRP.

DisClamier: 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 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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Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a seasoned crypto journalist who has established himself as a trusted voice in the world of blockchain and Web3. His extensive knowledge of the crypto space enables him to break down complex concepts into accessible language.

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