‘It’s Over’ – XRP Rallies As SEC Ends Its Lawsuit Against Ripple According to CEO Brad Garlinghouse
The U.S. Securities and Exchange Commission (SEC) is officially dropping its lawsuit against Ripple Labs, according to CEO Brad Garlinghouse.
In a new video update on the social media platform X, Brad Garlinghouse says that the regulatory agency is dropping its appeal in its lawsuit against the firm, which it originally filed in December 2020 for allegedly selling unregistered securities.
“I’m finally able to announce this case has ended – it’s over. Sitting here today and reflecting on four years ago, it seems very clear to me that this case was doomed from the start. In so many ways, it was the first major shot in the war on crypto.
I truly felt like I knew then that not only was Ripple on the right side of the law, but I felt that we were also going to be proven to be on the right side of history…
Ripple is the first company with the resources, determination, and grit to fight back against the agency’s overreach, and today this journey finally concludes. Today is a victory – a long overdue surrender by the SEC.”
According to Garlinghouse, the SEC was using the guise of protecting investors as a means of stifling the digital assets industry. He also says other government agencies helped the SEC hinder the industry by debanking crypto firms.
“A regulatory whose primary purpose is to protect investors went all-in on a non-fraud, victimless lawsuit and wiped out $15 billion of value from innocent XRP holders. The SEC was the market manipulator.”
In 2023, a judge ruled that Ripple’s automated, open-market sales of XRP did not count as security offerings, countering the SEC’s allegations.
XRP has rallied 13% on Garlinghouse’s announcement, currently trading at $2.53
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The post ‘It’s Over’ – XRP Rallies As SEC Ends Its Lawsuit Against Ripple According to CEO Brad Garlinghouse appeared first on The Daily Hodl.
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Bitcoin’s Road To $1 Million: Expect A ‘Dip Then Rip,’ Bitwise CIO Says
The road ahead for Bitcoin looks promising. At least, this is the prediction of Bitwise Chief Investment Officer Matt Hougan.
According to the CIO, Bitcoin still has a big chance to hit $1 million by 2029 — despite its recent lackluster performance.
In a March 18 investor note, Hougan explained how Bitcoin responds to economic uncertainty.
Bitcoin’s Complex Relationship With Economic Trends
In his view, Hougan said Bitcoin doesn’t always function as the crisis hedge many buyers expect. The cryptocurrency sometimes moves in sync with the broader US stock market when major economic news breaks.
This pattern appears to be repeating as markets await the 2025 Federal Open Market Committee (FOMC) Meeting this month.
The Bitwise executive advises holding onto your crypto investment in spite of the current uncertainty. He cites past data that demonstrates Bitcoin price increases of more than 190% in the years after notable declines. This is what he labels as a “dip then rip” trend that may recur in the coming weeks or months.
Million-Dollar Price Target Based On Discount Analysis
Using the Discounted Cashflow Analysis (DCA), Hougan calculated that a $1 million BTC price in 2029 translates to a current value of $218,604 when applying a 50% discount factor. This projection supports Bitwise’s long-term forecast of up to $1.1 million per coin.
With a modest price movement, the cryptocurrency has traded lately between $81,180 and $84,340. Though obstacles still exist, other analysts such as Ark Invest’s Cathie Wood have foreseen a “deflationary boom” that would help Bitcoin reach its full potential.
US Government Involvement Could Shape Future Of BitcoinReports suggest that possible US government actions could have a major effect on the long-term future of Bitcoin. The proposed creation of a strategic Bitcoin reserve could indicate official acknowledgement of the relevance of the alpha coin.
Senator Cynthia Lummis, meanwhile, has reintroduced the Bitcoin Act Bill, a move that appears to be building institutional investor confidence. Regulatory changes affecting Bitcoin are also spreading to other digital assets, particularly stablecoins.
Macroeconomic Factors Influence Short-Term Price ActionThe Bitwise CIO also pointed out links between the success of Bitcoin and the US tariff wars. The main reason for Bitcoin’s price changes, according to his analysis, is that it is not as liquid as standard markets.
In the short run, Hougan said that geopolitical tariff conflicts might make the market more liquid. If this trend keeps up, it could be good for Bitcoin because buyers are looking for safety from economic uncertainty.
Featured image from Gemini Imagen, chart from TradingView
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