Ripple CEO Urges Senate to Define Crypto Regulation for XRP
On July 9, 2025, Ripple CEO Brad Garlinghouse testified before the U.S. Senate Banking Committee in a hearing titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets.” He urged lawmakers to enact comprehensive crypto regulation and called for the passage of the CLARITY Act and GENIUS Act to resolve SEC and CFTC jurisdiction over digital assets such as XRP.
Garlinghouse highlighted the XRP Ledger’s fast, scalable cross-border payments and criticized the SEC’s enforcement-based approach for driving talent and capital offshore. Citing Ripple’s victory in its SEC lawsuit, he argued that clear crypto regulation would foster innovation, institutional adoption, DeFi integration, and pave the way for a potential XRP ETF. XRP price reacted positively, breaking above a multi-month descending triangle, reclaiming $2.20 and trading at $2.29 (+4.4% weekly), as traders viewed the testimony as a catalyst for wider market adoption.
Bullish
Garlinghouse’s Senate testimony serves as a bullish catalyst for XRP. In the short term, his call for clear crypto regulation triggered a technical breakout above a descending triangle, lifting market sentiment and driving XRP’s price to $2.29. Over the long term, passing the CLARITY and GENIUS Acts would resolve jurisdictional uncertainty, attract institutional investors, enable DeFi integration, and pave the way for an XRP ETF. Regulatory clarity reduces compliance risks, boosts liquidity, and supports sustained adoption, reinforcing an upward trajectory for XRP.