Speaking at an XRP-focused event in Sydney, Garlinghouse described the meeting as a “big surprise.” He noted that after years of legal confrontation, the practical value of the technology ultimately prevailed. “This long journey was worth it. If we stay the course and continue focusing on real-world utility, the path forward looks extremely promising,” the Ripple CEO said.
It remains unclear whether Gary Gensler genuinely regrets his past position. The former SEC chair has not publicly commented on Garlinghouse’s claims.
In recent years, Gensler faced repeated criticism for initiating the SEC’s lawsuit against Ripple, in which XRP was classified as a security. The legal action, launched in 2020, had a significant impact on the broader crypto market and contributed to a sharp decline in XRP’s price.
Following Gensler’s departure as SEC chair, market participants believe the regulator’s stance toward cryptocurrencies has shifted noticeably. Despite these statements, market reaction has remained muted. At the time of publication, XRP is trading around $1.35, down roughly 30% since the beginning of the year.
