Ripple Recorded its Strongest Year Ever: Brad Garlinghouse
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Ripple (XRP) CEO Brad Garlinghouse recently noted in a series of tweets on Wednesday that his company has achieved a lot this year despite battling a lawsuit against the US Securities and Exchange Commission, calling it the “strongest year ever.” One of Garlinghouse’s tweets read that:
“Proud to say it was @Ripple’s strongest year ever (XRP-based On-Demand Liquidity payments account for 25% of $ volume across RippleNet, and ODL txns are up 25x from Q3 2020, and 130% QoQ).”
The SEC filed a lawsuit against Ripple Labs, the CEO, and Ripple co-founder Chris Larsen in December 2020. The regulatory authority claimed that the XRP sales by the company should have gotten registered as a security.
However, Garlinghouse has called the lawsuit an attack on the entire crypto industry in the US and not just Ripple.
The CEO also outlined his company’s growth over the year, highlighting milestones like launching new On-Demand Liquidity (ODL) corridors and its central bank digital currency (CBDC) solution. He added that: “All of this growth came from outside the US.”
Garlinghouse also claimed that SEC Chair Gary Gensler “has taken an aggressively anti-crypto approach and companies are already moving outside the US.” He argued that “the SEC today won’t answer questions about the legal status of ETH, much less anything else,” explaining that:
“Calling crypto the ‘Wild West’ is a farce – most are complying with financial regulators globally. This industry shouldn’t be punished for asking for regulatory clarity & regulation that is consistently applied with a level playing field.”
Key Ripple Levels to Watch — December 24
After posting a sharp recovery from the $0.8000s this week, XRP appears to have lost bullish steam at the $1 mark. The seventh-largest cryptocurrency has now failed to clear the critical resistance after two attempts within the last 24 hours, indicating that a correction is at hand.
At press time, the projected correction has emerged, as XRP falls below the $0.9500 mark. That said, we could see a bearish continuation to $0.9000, where a golden cross threatens to form in the coming hours and days. Nonetheless, the bullish momentum remains intact above $0.9000, and a rebound should follow on the trigger.
Meanwhile, my resistance levels are $1.0000, $1.0500, and $1.1000, and my support levels are $0.9275, $0.9000, and $0.8800.
Total Market Capitalization: $2.37 trillion
Ripple Market Capitalization: $47.4 billion
Ripple Dominance: 2%
Market Rank: #7
