Brad Garlinghouse, CEO of Ripple, recently participated in a meeting at the White House alongside President Donald Trump, SEC Chair Paul Atkins, CFTC Chair Michael Selig, Coinbase CEO Brian Armstrong, and other leaders in the crypto industry. The focus of the meeting was on establishing clearer rules for the crypto industry, promoting U.S. innovation, and discussing the next steps for the CLARITY Act. This meeting took place as XRP was experiencing a recovery from the $1 price range, with the positive regulatory developments contributing to improved sentiment surrounding the token.
During the meeting, Garlinghouse emphasized that crypto is no longer a niche industry, highlighting the fact that 67 million Americans now hold crypto, representing nearly one in four people. He stressed that Washington can no longer overlook the growing user base of crypto and praised Trump’s attention to digital asset innovation, expressing optimism about the industry’s future.
The broader implications for XRP include Ripple’s ongoing efforts to advocate for clearer regulatory frameworks in the U.S. Greater regulatory clarity could facilitate the growth and operation of crypto companies and financial institutions within the country.
Trump specifically called on Congress to pass a fair version of the CLARITY Act, suggesting that it could pave the way for the next wave of innovation in the industry. Coinbase CEO Brian Armstrong highlighted the upcoming September 15 vote on the CLARITY Act as a crucial step, noting alignment among the administration, SEC, and CFTC in advancing the legislation. The bill’s progress through the Senate remains a significant factor for the market.
SEC Chair Paul Atkins emphasized the regulator’s commitment to fostering crypto innovation in the U.S. He mentioned the SEC’s proposed rules on crypto-assets, which aim to provide companies with more certainty when utilizing digital assets for capital raising. Atkins also endorsed the goal of sending the CLARITY Act to Trump for approval, linking crypto regulation with broader efforts to enhance U.S. financial markets and attract more investors.
In terms of XRP’s price action, the token saw a nearly 10% increase to around $1.09, surpassing the $1.08 level after a period of consolidation near $1. The next key level to monitor is around $1.14, with a sustained breakout above it potentially opening the path to $1.20. On the downside, $1.08 could serve as a critical support level if the rally loses momentum.
The price surge was also supported by renewed demand for XRP ETFs, with spot XRP ETFs recording significant inflows on August 18. This influx marked the strongest single-day activity since July 31, with the five ETFs collectively holding approximately 1.5% of XRP’s current supply.
Overall, the meeting at the White House underscored the importance of regulatory clarity for the crypto industry and highlighted the potential for continued growth and innovation in the sector. The developments surrounding the CLARITY Act and the positive sentiment surrounding XRP indicate a promising outlook for the industry moving forward.
