XRP News Today: XRP Surges 580% Amid Institutional Support and Legal Clarity

Ripple CEO Brad Garlinghouse's recent actions and statements have drawn considerable attention from market observers, who are closely monitoring their potential impact on the price of XRP. In November 2024, the cryptocurrency experienced a notable rally, surging from around $0.50 to over $2 within a few weeks. This price increase was largely attributed to Garlinghouse's announcements about growing institutional support for XRP-based investment products. He revealed that several major asset managers had filed for XRP ETFs. Garlinghouse's public statement about the strong institutional interest in XRP products helped shift investor sentiment, contributing to a 580% increase in XRP's price through January 2025, when it briefly exceeded $3.

Recently, Garlinghouse announced that Ripple would withdraw its cross-appeal in the ongoing Securities and Exchange Commission (SEC) case. This move signals a near conclusion to a multi-year legal dispute that has traditionally weighed on XRP’s price. At the time of the announcement, XRP was valued at approximately $2, and it has remained relatively stable since. By removing a major legal uncertainty, this step could prompt fresh interest from investors and institutions, potentially setting the groundwork for a renewed bullish trend.

One prominent voice on social media noted the similarity in market dynamics. He referenced Garlinghouse’s previous role in guiding XRP into a new price range and believes that the current signals could generate a similar effect. With XRP trading around $2.19 as of the report time, another surge of 580% would place the token near $15.

In addition to the cross-appeal announcement, Garlinghouse’s social media activity has intensified speculation. A repost featuring his XRP tattoo prompted widespread community attention. One user queried whether the tattoo represented his ongoing commitment to XRP, and Garlinghouse responded simply with “1,000%”. This brief reply sparked excitement among supporters, including influencer Alex Cobb, who interpreted the response as an indication that XRP could appreciate tenfold. If XRP did indeed increase by 1,000% from its current price of $2.19, it would reach approximately $22–$24 per coin. At that level, XRP’s market capitalization would approach $1.4 trillion, surpassing the value of major corporate giants. However, analysts caution that this scenario is highly speculative and relies on numerous assumptions about future demand, regulatory conditions, and overall market behavior.