2021 started on a bad note for Ripple. While all the other coins were relishing the gains acquired during the recent bull run, XRP was the only coin that endured destruction. The lawsuit that the SEC slapped Ripple with almost destroyed the altcoin as several prominent exchanges went on to withdraw support for the asset.
While Ripple has been taking measures to quash the lawsuit, XRP had fallen down to the seventh position on CoinMarketCap. Despite several setbacks, Ripple has time and again revealed that it was moving ahead untethered by the lawsuit. Brad Garlinghouse, the CEO of Ripple in his recent interview affirmed that the platform would continue exploring new markets.
Ripple’s Brad Garlinghouse Affirms Entry Into Asian Market
The crypto and blockchain platform witnessed a blip after the SEC charged Ripple for selling unregistered securities. In a recent report by Reuters, Garlinghouse revealed that the platform would go ahead with its plan of jumping into Asian waters. He said,
“It (the lawsuit) has hindered activity in the United States, but it has not really impacted what’s going on for us in Asia Pacific. We have been able to continue to grow the business in Asia and Japan because we’ve had regulatory clarity in those markets. We have been able to continue to grow the business in Asia and Japan because we’ve had regulatory clarity in those markets.”
The Asian market has been gaining a lot of traction with governments diving into digitalization. Ripple, has been encountering regulatory issues only in the United States, therefore the platform’s potential shift from the US could be beneficial for the platform.
Garlinghouse even affirmed that XRP has found shelter in over 200 exchanges across the globe. Just three or four exchanges suspending trade of the asset in the US wouldn’t have a big impact on the asset.
Additionally, Garlinghouse filed a motion to Federal Judge Analisa Torres seeking the dismissal of the SEC lawsuit against him citing “regulatory overreach.”