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Brad Garlinghouse, the CEO of Ripple Labs, has addressed the XRP community with an X post, sharing photos from a historic event - the U.S. president signing the Genius Act, turning it into a law.
This coincided with the Ripple-affiliated cryptocurrency, XRP, soaring to a new all-time high, surpassing that reached in early January 2018.
Ripple CEO highlights signing of Genius Act
Garlinghouse shared photos from the White House, where the Ripple team was present, watching the U.S. president, Donald Trump, sign the just-approved Genius Act. The Ripple CEO highlighted that this was a historic day for the cryptocurrency space since this Act provides clear and friendly regulation of the $250 billion stablecoin market and marks “a shift from the U.S.'s historically cautious crypto stance.”
Garlinghouse stressed the crucial role of the U.S. president, whose family has made $2 billion wealth gain on crypto recently. However, according to the tweet, the CEO was unable to be present at this historic event for crypto in person, but he was “celebrating from afar” as he reposted a tweet issued by Ripple’s chief legal officer, Stuart Alderoty, who is shown in one of the photos attached to the post.
XRP finally skyrockets to new ATH
Fueled by the news of the Genius Act signing, the third-largest cryptocurrency, XRP, has made the move that had been expected of it over the past five years - it has finally skyrocketed to a new all-time high.
A chart shows that on Friday, XRP soared by almost 16%, hitting $3.65. In that surge, there were two large green hourly candles, which took XRP roughly 5% up each. Over the past 30 days, the Ripple-affiliated crypto has spiked by 70%.
By now, the coin has experienced a 6% correction and is changing hands at $3.44.
Vladislav Sopov
U.Today Editorial Team