"What good news for XRP"
Ripple's Chief Executive Officer (CEO) Brad Garlinghouse will go to Washington D.C to meet members of the United States (US) Congress to discuss the proposed cryptocurrency bill.
In addition to Garlinghouse, Ripple's Chief Legal Officer (CLO) named Stuart Alderoty, Head of Global Public Policy Rob Grant including its Vice President are among the individuals who also visited Washington D.C.
This is because they want to have direct discussions with legislators to get clarity on the rules.
It is well known that the US Republican House has reviewed the Financial and technological Innovation for the 21st Century Act while another important bill, the Clarity for Stablecoin Payments Act of 2023, has not yet received sufficient support from members of the US Congress.
So here it can be seen that the move made by Garlinghouse is one of the positive developments for the crypto market to recover from the continuous fall it faced before.
Earlier on July 13, 2023, Judge Analisa Tores has ruled in a Summary Judgment that the digital asset based on Ripple, namely XRP, is not a security and that the firm has in no way violated any US securities laws.
However, the Securities and Exchange Commission (SEC) is currently awaiting approval to appeal the decision but a jury trial is likely to begin in the second quarter of 2024.
As of this writing, XRP price is up 0.63% at $0.51 in the last 24 hours with a market cap of $27 billion then recorded a 7.12% climb over the last week.
