Ripple CEO Pushes for Clear Crypto Regulation in DC

On Friday, Ripple Labs CEO Brad Garlinghouse posted on his X page about an action-packed meeting regarding the progress of the U.S. crypto regulatory framework.

Garlinghouse Sees Progress in Crypto Regulation Talks

According to Garlinghouse, he interacted with prominent American leaders, including Republican Senator Tim Scott and Representative Ritchie Torres of New York’s 15th District, to advocate for a regulatory framework that engenders innovation. 

Walked away from an action-packed day in DC yesterday with the feeling that there is (finally) an incredible opportunity to advance meaningful bipartisan legislation that establishes clear, constructive and pro-innovation regulatory frameworks for crypto.

Thank you to these… pic.twitter.com/LF6V536udg

— Brad Garlinghouse (@bgarlinghouse) February 13, 2025

While he did not share the main details of the meetings, his recent post on X implied a level of progress. In addition, he claimed that they are working on a cohesive legislation that would provide clarity for the industry.  

“Walked away from an action-packed day in DC yesterday with the feeling that there is (finally) an incredible opportunity to advance meaningful bipartisan legislation that establishes clear, constructive, and pro-innovation regulatory frameworks for crypto,” he wrote on Twitter.  

For context, cryptocurrency entities have gone through different uncertainties due to the lack of explicit rules in the United States. If these discussions lead to actionable policies, they could bring change and stability to the sector and encourage further investment.

Ripple Moves 430.8 Million XRP Amid Market Activity

Meanwhile, Ripple Lab has been making large transfers of its native token, XRP. According to blockchain tracking service Whale Alert, a staggering 430.8 million XRP, valued at over $1.1 billion, was moved in separate transactions.  

In another transaction, over 300 million XRP was sent to an anonymous wallet connected to Ripple. Additionally, 90 million XRP moved between unidentified wallets, and 40.8 million XRP was withdrawn from the Coincheck exchange. 

XRP Price Spikes as Crypto Market Gains

Following these events, XRP recorded a 10% increase in price, hitting $2.69 with a market capitalization of $156.06 billion. In addition, XRP has flipped Tether’s USDt stablecoin to claim its spot as the third-largest cryptocurrency globally.

Meanwhile, the U.S. Securities and Exchange Commission (SEC) has officially acknowledged filings from crypto asset manager Grayscale to list spot ETF funds for XRP and Dogecoin (DOGE), marking a significant step forward in the growing wave of crypto investment products.