Brad Garlinghouse, CEO of Ripple Labs, stated his position
on Bitcoin (BTC) during the Blockworks Digital Asset Summit in New York on
Wednesday (Yesterday). Speaking with Bitwise CEO Hunter Horsely, he said he first bought
Bitcoin in 2012 and remains optimistic about it.
Meanwhile, after a strong bullish session yesterday, BTCUSD
is undergoing a bearish correction on the H1 chart. Intraday buyers may look
for opportunities to enter long positions and drive the price higher.
Ripple CEO Supports Bitcoin, Holds BTC
“I am bullish on Bitcoin, period,” Garlinghouse said,
according to Bitcoin.com. He also confirmed that he holds BTC and has used it
for transactions but has not sold it.
Garlinghouse’s comments come amid ongoing criticism of XRP
within the Bitcoin community. Many argue that Ripple’s initial allocation of
80% of XRP’s supply concentrated control over the asset.
BTCUSD Consolidates, Buyers Watch Key Level
The BTCUSD H1 chart reveals that after finding strong
support around the 81,300 level, the price initiated a significant bullish
movement. During this rally, it successfully broke through several key
resistance levels, showcasing robust upward momentum.
Currently, the 85,400 level appears to be a crucial level
that could act as support moving forward. If the price forms a bullish reversal
pattern at this level, there is potential for buyers to drive the price further
north. However, if the price breaches this level, it could signal a shift,
prompting sellers to target short positions from the value areas.
🔥 BULLISH: 🇺🇸 “I think Trump will make crypto great again in the United States.” – @bgarlinghouse, CEO of Ripple pic.twitter.com/lj6dy3elSv
— CryptosRus (@CryptosR_Us) February 12, 2025
SEC Drops Appeal, Ripple Legal Battle Ends
Meanwhile, the United
States Securities and Exchange Commission (SEC) is ending its multi-year
enforcement action against Ripple, as confirmed by the company’s CEO, Brad
Garlinghouse. This brings an end to the legal dispute that started in December
2020, when the SEC filed a lawsuit against Ripple over an alleged $1.3 billion
unregistered securities offering.
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.The future is bright. Let’s build. pic.twitter.com/7WsD0C92Cm
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
Garlinghouse announced the conclusion of the case on X on
March 19, stating: “The SEC will drop its appeal—a significant development
for Ripple and the crypto industry.” In a video accompanying his post, he
confirmed: “I’m finally able to announce that the case has ended; it’s
over.”
Garlinghouse reflected on the outcome, saying: “We’re
now closing a chapter in crypto history,” and stressed the importance of
the US taking a leadership role in the crypto space, stating, “It’s time
to make the United States the crypto capital of the world.”
This article was written by Tareq Sikder at www.financemagnates.com.
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