Brad Garlinghouse Clarifies the Truth About the Price and Position of XRP

John Squire's recent post on X includes a clip capturing Ripple's CEO Brad Garlinghouse, reminding us of a powerful reminder: "XRP was once ranked second before the SEC slowed things down." In the video, Garlinghouse explains, "People forget that... before the SEC intervened in the cryptocurrency market, XRP was the second most valuable digital asset after... ETH... then the SEC intervened... and then they sued Ripple and XRP's price dropped." Squire's post highlights what many in the XRP community have long debated—that regulatory intervention, rather than the underlying market factors, has diverted the course of XRP.

The Ripple-SEC Case Concludes The timing of Garlinghouse's comment is particularly noteworthy, as it comes right as the protracted legal battle with the (SEC) officially comes to an end. On August 7, 2025, Ripple and the SEC jointly withdrew their appeal to the U.S. Court of Appeals for the Second Circuit. That move marks the official end of the appeals process, upholding the previous rulings of Judge Analisa Torres and closing nearly five years of litigation. On August 22, the Second Circuit Court of Appeals approved the joint dismissal, confirming that the appeals of both parties were dismissed. With a one-page order signed by appellate court clerk Catherine O'Hagan Wolfe, the case was sealed as "Ordered," officially closing it. The cryptocurrency industry views this as the most significant regulatory resolution since the SEC began its campaign against Ripple in 2020. What Remains... Although the case has been closed, the previous rulings of the district court are still in effect. Ripple must pay a civil penalty of 125 million dollars, and the ban on certain sales transactions of the organization remains in effect. Importantly, Judge Torres' ruling from July 2023 remains unchanged: The sale of XRP on the secondary market on exchanges does not constitute a securities transaction, while the sales by the organization violated securities laws. This result ensures transparency for traders and daily exchanges, ensuring that XRP is not classified as a security in the open market. At the same time, it also reinforces compliance regarding Ripple's direct sales to institutions. Market Significance With the legal instability finally removed, XRP has reacted positively. The price of this token immediately surged on major exchanges, with an increase of 4-13% just a few hours after the court's ruling. Analysts note that this resolution could pave the way for relisting, reinforcing institutional confidence and the potential for inclusion in upcoming financial products such as ETF funds. This ruling establishes an important precedent in U.S. regulation, clarifying that while the sale of tokens by organizations may be considered securities, trading cryptocurrency on the secondary market such as XRP is not. This distinction could have far-reaching implications for the entire digital asset industry. Conclusion John Squire's repost about Garlinghouse's statement is even more compelling at this moment. XRP was once a close competitor to Ethereum in terms of market capitalization, but its decline is due to legal pressure, not a lack of utility or demand. After the SEC lawsuit has finally concluded, Ripple can shift its focus to adoption, partnerships, and cross-border payment solutions. Whether XRP can regain its former position remains to be seen, but the end of this litigation will pave the way for a comeback that Garlinghouse describes as a long-awaited return.