Ripple CEO Brad Garlinghouse backs Elon Musk's criticism of the US SEC, sparking discussions as the market eyes pro-crypto regulatory environment in the US.

In a post on the social media platform X, Ripple chief executive Brad Garlinghouse says that Ripple USD (RLUSD) – the firm’s new dollar-pegged crypto asset – has been approved by the New York Department of Financial Services (NYDFS).

The XRP price surged over 6% in the last 24 hours after Ripple CEO Brad Garlinghouse said stablecoin RLUSD had received regulatory approval.

XRP is soaring after its creator, Ripple, announced that its planned and unrelated RLUSD stablecoin has finally received regulatory approval and is preparing to launch “soon.” XRP is up 11% in the last 24 hours,

Ripple CEO Brad Garlinghouse links XRP's rally to SEC Chair Gary Gensler's resignation and a major legal win, boosting market optimism.

XRP (XRP-USD), the native cryptocurrency of the XRP Ledger, which was created by Ripple's founders, extended its strong bull run in Wednesday morning trading, surging 20%, after Ripple CEO Brad Garlinghouse said the private fintech company's much-anticipated stablecoin received final approval from the New York Department of Financial Services.

XRP prices are recovering from the broader crypto market crash earlier this year as the token was positively affected by news that Ripple's $RLUSD stablecoin has been approved by the NYDFS.

Ripple gains final NYDFS approval for its RLUSD stablecoin. Ripple hasn’t specified a launch date but says the listing will begin soon. Ripple’s CEO cautioned