Ripple (XRP) CEO Brad Garlinghouse Calls This The Best Year For XRP

JAKARTA – Ripple's (XRP) feud with the US Securities and Exchange Commission (SEC) isn't over yet, but Ripple CEO Brad Garlinghouse says that his party has had its best year yet. Garlinghouse made the statement in a Twitter post.

Proud to say it was @Ripple's strongest year ever (XRP-based On-Demand Liquidity payments account for 25% of $ volume across RippleNet, and ODL txns are up 25x from Q3 2020, and 130% QoQ). 4/10 https://t.co/2V2ORfzTqm

— Brad Garlinghouse (@bgarlinghouse) December 22, 2021

Launching U.Today, Garlinghouse claims that the XRP-backed On-Demand Liquidity solution now accounts for a quarter of the US dollar-denominated volume processed by the RippleNet network. ODL transactions have increased 25 times since the third quarter of 2020.

Ripple has also opened new ODL corridors in Japan and the UAE. In addition, Bhutan and Palau have partnered with distributed ledger technology providers to help them launch their national digital currencies. In March, Ripple announced the launch of a private version of the XRP Ledger designed specifically for central banks.

Previously, Ripple had been brought by the SEC to court and accused XRP of illegally selling tokens because it was not registered with the SEC. Even so, Garlinghouse stated that the SEC's lawsuit against Ripple is actually a lawsuit against the entire crypto industry.

The case has also implicated the former SEC chairman, William Hinman, who allegedly received millions of dollars from law firm Simpson Thacher affiliated with the Enterprise Ethereum Alliance.

Currently the SEC chairman position is held by Gary Gensler who is considered more "pro" to cryptocurrencies. Even so, Garlinghouse himself urged the SEC that the industry should not be penalized "for demanding clarity of regulations and regulations that are applied consistently with the level playing field."

As of writing, the price of XRP is trading at Rp14,204. Prices have increased by 4.0 percent in the last 24 hours, according to data from Coingecko.