Brad Garlinghouse Highlights US Market Significance
On Sunday, January 5, Brad Garlinghouse, Ripple CEO, highlighted the marked shift in sentiment toward the US digital asset space, saying,
“2025 is here and the Trump bull market is real. For Ripple, this is even more personal after Gensler’s SEC effectively froze our business opportunities here at home for years. The optimism is obvious and very deserved.”
The Ripple CEO added,
“Team Trump is already jumpstarting innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins and others at the helm, and they aren’t even in office yet! Say what you want, but the “Trump effect” is already making crypto great again – through his campaign, and in the Administration’s day 1 priorities.”
Ripple’s US expansion reflects this optimism. Garlinghouse reported that 75% of its open roles are now US-based. Ripple also signed more US deals in the last six weeks of 2024 than in the previous six months.
Ripple’s recent US expansion likely stems from rising expectations that the SEC will withdraw its appeal against rulings in the Ripple case.
Amicus Curiae attorney John E. Deaton commented,
“As I’ve said, it’s impossible to estimate the damage the lack of regulatory clarity caused American businesses like Ripple. I can’t tell you how many times I heard, ‘just avoid the US market and don’t offer anything to U.S. investors.’ On top of a lack of regulatory clarity, Ripple had to deal with gross government overreach and selective enforcement.“
SEC Appeal Deadline Approaches: What’s at Stake for XRP?
XRP remains well below its January 2018 all-time high of $3.5505 despite the increasing optimism toward the US digital asset space. Uncertainty surrounding the SEC’s plans to challenge rulings in the Ripple case remains an XRP headwind.
The SEC must file its appeal-related opening brief by January 15. In October, the agency filed its Notice of Appeal. October’s filing revealed the agency’s intent to appeal the Programmatic Sales of XRP ruling. Recent SEC activity suggests that it will file its opening brief. SEC Chair Gensler strengthened the agency’s litigation team by promoting seasoned crypto litigators to senior office positions.
While the opening brief would kickstart the appeal, markets expect incoming SEC Chair Paul Atkins to reverse course. Withdrawing the appeal would set the Programmatic Sales of XRP ruling as a crucial legal precedent, potentially paving the way to a US XRP-spot ETF market.
An end to the Ripple case and a US XRP-spot ETF market could be a boon for XRP and the broader crypto market. Approval of XRP-spot ETFs could open the door for a wider crypto-spot ETF market, potentially driving crypto demand.
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See all Bitcoin forecastsXRP Price Trends
On Sunday, January 5, XRP declined by 0.90%, following Saturday’s 1.35% loss to close at $2.3986. The broader crypto market slipped by 0.13%, bringing the total market cap to $3.420 trillion.
The hope is that the SEC will withdraw its appeal by the January 15 deadline, potentially propelling XRP toward $3. An actual withdrawal may drive the token above its 2018 all-time high of $3.5505. Conversely, XRP could fall below $2 if the SEC files its opening brief.
Unlock Exclusive XRP Price Insights: Discover what the SEC’s next move could mean for XRP’s future. Don’t miss our expert analysis here – read now!
Bitcoin Trends: Demand Outpaces Supply
Meanwhile, bitcoin (BTC) continued to edge closer to the $100k level. Market sentiment toward demand drove BTC higher on Sunday.
HODL15Capital shared details of prominent BTC HODLERS, reflecting the positive sentiment toward bitcoin and the broader crypto market. The list of 60 billionaires holding BTC included Elon Musk (Tesla/SpaceX/Twitter), Mark Zuckerberg (Facebook), and Larry Ellison (Oracle).
From the crypto community, Brian Armstrong (Coinbase), Michael Saylor (MicroStrategy), Brad Garlinghouse (Ripple), and Chris Larsen (Ripple) were among the top 60.
Increased holdings among the wealthiest could incentivize retail investors to build BTC holdings, tilting the supply-demand balance in bitcoin’s favor.
Spotlight on U.S. BTC-Spot ETFs
On Monday, January 6, US BTC-spot ETF market flows require consideration. Net inflows of $908.1 million on January 3 boosted BTC demand, contributing to a 6-day winning streak.
Speculation over the US government’s potential approval of a Strategic Bitcoin Reserve (SBR) fueled market optimism. SBR developments will be crucial as Trump’s inauguration approaches.
Marc Scaramucci recently raised expectations for an SBR, stating that Senate Banking Committee Chair Tim Scott, US Treasury Secretary Scott Bessent, and potentially the under-60 years of age Democrats would back BTC as a strategic reserve asset. Congress, the Federal Reserve, the Treasury Department, and the President must approve BTC as a strategic reserve asset.
Bitcoin Price Outlook
On Sunday, January 5, BTC advanced by 0.24%, following Saturday’s 0.21% gain to close at $98,313.
Near-term BTC price trends remain dependent on US-BTC-spot ETF market flows and US SBR developments. Support from Capitol Hill for an SBR and inflows into the BTC-spot ETF market could drive BTC to new highs. Conversely, outflows and negative chatter may drag BTC toward the $90,742 support level.
Market Outlook for XRP and BTC
As 2025 begins, XRP and BTC face pivotal moments. XRP awaits clarity on the SEC appeal, while BTC’s trajectory depends on ETF market trends and the potential for a U.S. Strategic Bitcoin Reserve. Additionally, broader influences, including Federal Reserve policies and global regulatory shifts, will influence the crypto market’s outlook.
Stay updated here with our expert insights for a deeper understanding of these pivotal developments.
