Ripple CEO says it feels weird that market hasn’t rewarded XRP yet

Ripple CEO Brad Garlinghouse laments that the crypto market has failed to reward XRP for its unique position.
Garlinghouse expressed this sentiment during an interview at the recent XRP Ledger Apex Conference. He stressed that in the U.S. market, XRP stands out as the only cryptocurrency with regulatory clarity.
Bizarre Market Fails to Return XRP
Garlinghouse compared XRP’s status to that of Ethereum (ETH), the largest alternative currency. He noted that XRP is one of the few cryptocurrencies in the U.S. that can be definitively said is not a security.
Ethereum’s status, by contrast, is less clear, with the U.S. Securities and Exchange Commission (SEC) having warned its founders of potential litigation.
In March, reports emerged that the SEC was seeking financial documents related to the Ethereum Foundation’s work with U.S. companies in an effort to classify Ethereum as a security, sparking widespread criticism from the crypto community.
Garlinghouse cited Ethereum’s shaky position to highlight XRP’s unique advantages, especially after District Judge Analisa Torres ruled on July 13, 2023 that XRP is not a security.
Despite this clear regulatory advantage, Garlinghouse is surprised that the market has failed to reflect XRP’s value. “I think XRP is in such a unique position and the market is not rewarding it for that,” he said.
Widely followed community figure “XRP DROPZ” drew attention to this statement by the Ripple CEO.
XRP’s trajectory after the lawsuit victory
Notably, the Ripple CEO’s views come amid XRP’s current poor performance in the crypto market. XRP is currently trading at $0.478, showing a flattening of gains accumulated over a year.
Following a court ruling clarifying XRP’s regulatory status in July 2023, the asset surged by more than 1,00% in 24 hours to a high of $0.93. However, the subsequent trajectory has puzzled many.
Specifically, although almost all well-known US exchanges, such as Coinbase, Gemini, CryptoCom and Kraken, have relisted XRP, and platforms like Grayscale have also included it in investment products, XRP is currently down about 50% from its high of $0.93 in July.
During the same period, the entire crypto market entered a bull run, with Bitcoin, BNB, Floki, and Injective (INJ) breaking their 2021 all-time highs. However, XRP did not follow this bullish trend and fell.
A survey conducted by The Crypto Basic earlier this year suggested that XRP’s stagnant price was due to a lack of demand, rather than routine sales by Ripple as some had speculated.
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