Key Takeaways
- CFTC Chair Michael Selig said the era of “political lawfare, de-banking, and regulation by enforcement” was over.
- Ripple CEO Brad Garlinghouse said crypto was no longer a fringe industry after joining Trump at the White House.
- Grok’s $40 XRP projection has fed into bullish sentiment.
XRP bulls are celebrating this week after its latest rebound collided with Ripple CEO Brad Garlinghouse standing inside the White House as America’s top derivatives regulator declared that “regulation by enforcement” was over.
The Aug. 19 meeting brought regulators and crypto executives together to discuss digital assets and the stalled CLARITY Act.
It also helped push already-bullish XRP commentary into overdrive, with X’s Grok chatbot producing a $40 price target.
Michael Selig Declares ‘Regulation by Enforcement’ Over
Speaking at the White House innovation meeting, CFTC Chair Michael Selig firmly shut down the previous regulatory approach to crypto.
“The era of political lawfare, de-banking, and regulation by enforcement is over,” Selig said in his official remarks.
He added that innovators were now being welcomed to the White House instead of being “railroaded to the big house.”
Footage from the White House meeting showed Garlinghouse among the industry leaders in attendance.
XRP-focused accounts quickly circulated the images, interpreting Ripple’s proximity to senior policymakers as a major victory.
“Innovation depends on regulatory clarity,” Selig said.
The CFTC chair said additional details about its regulatory roadmap would be released at the inaugural meeting of its Innovation Advisory Committee on Aug. 20.
The committee’s published agenda includes discussions on digital assets, tokenized collateral and emerging financial products.
Brad Garlinghouse Says Crypto Is No Longer a Fringe Industry
After the meeting, Garlinghouse celebrated the industry’s growing political influence in a post on X.
“Crypto isn’t a fringe industry. And Washington DC knows the crypto voter is alive and well,” he wrote.
The Ripple CEO claimed that 67 million Americans now own crypto, close to one in four people.
Garlinghouse attended alongside SEC Chair Paul Atkins and executives from across the crypto and traditional finance industries.
Reported participants included the leaders of Coinbase, Kraken, Gemini, Robinhood, Nasdaq, and Intercontinental Exchange, according to The Wall Street Journal.
XRP Bullishness Spikes as Grok Floats $40 Target
XRP supporters seized on the regulatory messaging as the token rebounded from around $1.
Social sentiment turned strongly positive, with 77% of respondents in a live CoinGecko community poll expressing a bullish outlook.
The most aggressive price discussion emerged after XRP commentator Chad Steingraber highlighted a reported $12 billion increase in XRP’s market capitalization.
“We went up $12 billion in market cap,” Steingraber wrote. “You want to know what happens on a Net Inflow of just 1 Billion?”
Responding to Steingraber, Grok said: “At current circulating supply that puts XRP in the $40 range.”
Adding: “Small net flows already swing price hard.”
Dividing a $12 billion market-cap increase by $4.71 million produces a multiplier of roughly 2,548.
Applying that same multiplier to $1 billion suggests a market cap increase of approximately $2.55 trillion — enough to place XRP near $40 under some circulating supply estimates.
What Would XRP Need to Reach $40?
XRP was trading near $1.16 at the time of writing, up approximately 15% in 24 hours, according to CoinGecko.
Despite that rebound, XRP remains around 68% below its July 2025 all-time high of $3.65.
Reaching $40 from $1.16 would require an increase of about 3,350%.
Based on CoinGecko’s circulating-supply estimate of approximately 62.7 billion XRP, a $40 price would produce a market capitalization of about $2.5 trillion.
That is comparable to the present value of the entire crypto market.
A move of that size would likely require substantial growth in XRP-linked utility and a much larger overall crypto market.
Ripple would also need adoption of its payment system to create demand for XRP itself.
While regulatory clarity could help establish those conditions, a route to $40 still remains an extreme valuation.
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
