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“Did He Really Say That?” Ripple CEO Shocks Senate — Full Recap!"

The Crypto Basic

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Brad Garlinghouse, the CEO of Ripple, testified before the U.S. Senate Banking Committee at its first hearing on crypto market structure legislation.  

Read more on: https://thecryptobasic.com/2025/07/10/full-recap-heres-what-ripple-ceo-revealed-at-the-latest-u-s-senate-testimony/
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#Ripple CEO Brad Garlinghouse is set to introduce XRP to the U.S. Senate later today, highlighting the token’s technical strength and utility. Garlinghouse took to X yesterday to share a PDF link to his prepared remarks for the upcoming Senate hearing on the crypto market structure. The Ripple CEO’s testimony revolves around the topic of “Building Tomorrow’s Digital Asset Markets.” His remarks began with greetings to members of the Senate Committee on Banking, Housing, and Urban Affairs. He highlighted the company’s global footprint, as well as its role in facilitating cross-border payments on behalf of financial institutions, including banks. Garlinghouse Formally Introduces XRP to Senate Interestingly, Garlinghouse highlights how Ripple utilizes the XRP Ledger (XRPL) and its native token, XRP, to facilitate cross-border payments. This statement aims to enlighten the U.S. Senate that XRP has real-world utility, particularly in the global payments sector. Moreover, the Ripple CEO highlighted XRP’s core attributes, emphasizing that the coin is designed to enable highly scalable, low-cost, and fast transactions. This description positions XRP as a relevant asset in cross-border payments. Notably, Garlinghouse cleverly framed XRP and its underlying technology as the engine behind the software products that Ripple builds to power not only cross-border payments but digital custody and stablecoins. He stated that Ripple deliberately works with regulators and policymakers, adding that the company operates with over 60 payments, money transmitters, and crypto licenses globally, including within the U.S. Ripple’s compliance-first approach serves as a reassurance to Congress that the company is focused on complying with the law. XRP Regulatory Clarity Garlinghouse recounted how the SEC initiated an enforcement action against Ripple in 2020. According to him, Ripple was the first leading crypto company that the SEC sued in the United States. Meanwhile, he noted that Ripple had successfully fought the SEC in court and ultimately prevailed.

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Michael Saylor Compares Bitcoin with Ethereum and XRP. Michael Saylor, the executive chairman of MicroStrategy, insists that Bitcoin rules supreme and has no rivals despite giant strides by XRP and Ethereum. The maximalist is Bitcoin through and through, reiterating this stance in a widely circulating clip shared by Altcoin Daily. According to Saylor, the pioneering cryptocurrency is the best, and there is no second-best. Saylor has continued to taunt enthusiasts of other major cryptocurrencies, including Ethereum, XRP, and Solana despite not directly mentioning these assets. Notably, long-standing Bitcoin advocate Thomas Lee recently shared that Ethereum’s stablecoin utility will ensure it follows in Bitcoin’s footprint, but not Saylor. The Strategy chairman says there is no second-best. He stated that in the tech world, one might compare Google to Facebook or Apple to Amazon. However, in the digital asset space, there is no real competitor to Bitcoin; it is either Bitcoin or nothing else. Furthermore, Saylor pushed back on the 60% Bitcoin dominance in the cryptocurrency market. For perspective, BTC accounts for 64.94% of the global cryptocurrency market cap, with a valuation of over $2.16 trillion. However, Michael Saylor argued that Bitcoin should dominate about 95% to 96% of the market. In his words, one would be lucky to “scrape together 5% of other stuff.” It is based on this sentiment that Saylor’s Strategy has incessantly piled into Bitcoin. The business intelligence-turned-Bitcoin treasury company is by far the largest public firm holding BTC. Despite pausing its weekly purchase on Monday for the first time in three months, it holds 597,325 BTC, valued at $65 billion. #Crypto

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#XRP Price Could Reach $24.37 If it Grows 2% Per Month Until 2035. At the current price of $2.22, a 2% monthly gain would raise XRP’s value to approximately $2.2644 by the end of July. By the following month, the price would increase to $2.3097. At this pace, XRP could reach $2.55 by the end of 2025. One year from now, XRP would be trading at around $2.872 with a consistent 2% monthly gain. In the short term, a steady 2% monthly growth may seem modest. However, the compounding effect of consistent growth becomes more significant over time. Specifically, five years from now, in 2030, XRP’s price would reach approximately $7.43 under this growth scenario. This would mark a new all-time high and give XRP a market cap of nearly $500 billion. Meanwhile, its fully diluted valuation is approaching $1 trillion. By 2035, the price could rise to $24.37 based on the 2% monthly growth. This would equate to a market capitalization of nearly $1.5 trillion, potentially placing XRP ahead of companies such as Broadcom, TSMC, and Berkshire Hathaway. While a 2% monthly growth implies a significant long-term increase, many in the XRP community believe the coin could hit $24 much sooner. Some even predict prices above $30 as early as 2025. This suggests that many expect a far more rapid valuation increase than a 2% monthly growth would suggest. For instance, Telegaon’s price forecast for XRP predicts the coin could reach as high as $87 by 2035. Similarly, crypto exchange Changelly projects XRP could hit $92.88 by December 2034. This indicates expectations of an even higher price by 2035. #CryptoNewsCommunity

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