Financial and Business News

BTC Consolidates as Ripple CEO Garlinghouse Says “I Am Bullish on Bitcoin”

Thursday, 20/03/2025 | 09:56 GMT by Tareq Sikder
  • Brad Garlinghouse confirmed his long-term support for Bitcoin, stating he first bought it in 2012.
  • The SEC is ending its action against Ripple, marking the conclusion of a battle that began in December 2020.
Ripple' CEO, Brad Garlinghouse, at TechCrunch Disrupt San Francisco in 2018
Ripple' CEO, Brad Garlinghouse

Brad Garlinghouse, CEO of Ripple Labs, stated his position on Bitcoin (BTC) during the Blockworks Digital Asset Summit in New York on Wednesday (Yesterday). Speaking with Bitwise CEO Hunter Horsely, he said he first bought Bitcoin in 2012 and remains optimistic about it.

Meanwhile, after a strong bullish session yesterday, BTCUSD is undergoing a bearish correction on the H1 chart. Intraday buyers may look for opportunities to enter long positions and drive the price higher.

Ripple CEO Supports Bitcoin, Holds BTC

“I am bullish on Bitcoin, period,” Garlinghouse said, according to Bitcoin.com. He also confirmed that he holds BTC and has used it for transactions but has not sold it.

Garlinghouse’s comments come amid ongoing criticism of XRP within the Bitcoin community. Many argue that Ripple ’s initial allocation of 80% of XRP’s supply concentrated control over the asset.

BTCUSD H1 Chart, Source: TradingView
BTCUSD H1 Chart, Source: TradingView

BTCUSD Consolidates, Buyers Watch Key Level

The BTCUSD H1 chart reveals that after finding strong support around the 81,300 level, the price initiated a significant bullish movement. During this rally, it successfully broke through several key resistance levels, showcasing robust upward momentum.

Currently, the 85,400 level appears to be a crucial level that could act as support moving forward. If the price forms a bullish reversal pattern at this level, there is potential for buyers to drive the price further north. However, if the price breaches this level, it could signal a shift, prompting sellers to target short positions from the value areas.

SEC Drops Appeal, Ripple Legal Battle Ends

Meanwhile, the United States Securities and Exchange Commission (SEC) is ending its multi-year enforcement action against Ripple, as confirmed by the company's CEO, Brad Garlinghouse. This brings an end to the legal dispute that started in December 2020, when the SEC filed a lawsuit against Ripple over an alleged $1.3 billion unregistered securities offering.

Garlinghouse announced the conclusion of the case on X on March 19, stating: “The SEC will drop its appeal—a significant development for Ripple and the crypto industry.” In a video accompanying his post, he confirmed: “I’m finally able to announce that the case has ended; it’s over.”

Garlinghouse reflected on the outcome, saying: “We’re now closing a chapter in crypto history,” and stressed the importance of the US taking a leadership role in the crypto space, stating, “It’s time to make the United States the crypto capital of the world.”

Brad Garlinghouse, CEO of Ripple Labs, stated his position on Bitcoin (BTC) during the Blockworks Digital Asset Summit in New York on Wednesday (Yesterday). Speaking with Bitwise CEO Hunter Horsely, he said he first bought Bitcoin in 2012 and remains optimistic about it.

Meanwhile, after a strong bullish session yesterday, BTCUSD is undergoing a bearish correction on the H1 chart. Intraday buyers may look for opportunities to enter long positions and drive the price higher.

Ripple CEO Supports Bitcoin, Holds BTC

“I am bullish on Bitcoin, period,” Garlinghouse said, according to Bitcoin.com. He also confirmed that he holds BTC and has used it for transactions but has not sold it.

Garlinghouse’s comments come amid ongoing criticism of XRP within the Bitcoin community. Many argue that Ripple ’s initial allocation of 80% of XRP’s supply concentrated control over the asset.

BTCUSD H1 Chart, Source: TradingView
BTCUSD H1 Chart, Source: TradingView

BTCUSD Consolidates, Buyers Watch Key Level

The BTCUSD H1 chart reveals that after finding strong support around the 81,300 level, the price initiated a significant bullish movement. During this rally, it successfully broke through several key resistance levels, showcasing robust upward momentum.

Currently, the 85,400 level appears to be a crucial level that could act as support moving forward. If the price forms a bullish reversal pattern at this level, there is potential for buyers to drive the price further north. However, if the price breaches this level, it could signal a shift, prompting sellers to target short positions from the value areas.

SEC Drops Appeal, Ripple Legal Battle Ends

Meanwhile, the United States Securities and Exchange Commission (SEC) is ending its multi-year enforcement action against Ripple, as confirmed by the company's CEO, Brad Garlinghouse. This brings an end to the legal dispute that started in December 2020, when the SEC filed a lawsuit against Ripple over an alleged $1.3 billion unregistered securities offering.

Garlinghouse announced the conclusion of the case on X on March 19, stating: “The SEC will drop its appeal—a significant development for Ripple and the crypto industry.” In a video accompanying his post, he confirmed: “I’m finally able to announce that the case has ended; it’s over.”

Garlinghouse reflected on the outcome, saying: “We’re now closing a chapter in crypto history,” and stressed the importance of the US taking a leadership role in the crypto space, stating, “It’s time to make the United States the crypto capital of the world.”

About the Author: Tareq Sikder
Tareq Sikder
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A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

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