XRP Australia 2026 became an unexpected window into the inner workings of Washington when Ripple CEO Brad Garlinghouse revealed that former SEC Chairman Gary Gensler privately apologized during a high-level meeting at the White House and admitted that he was wrong about XRP. The revelation marks a dramatic change in tone after years of aggressive SEC enforcement and a bitter legal battle against Ripple.
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The room where this happened
Ripple CEO Brad Garlinghouse found it hard to believe as he told a stunned audience about meeting former SEC Chairman Gary Gensler in late 2024 at the White House, during a meeting on digital asset policy, just after the SEC and Ripple’s legal battle ended. According to Garlinghouse’s account, Gensler simply approached him after the session ended: “He comes up to me and he says sorry,” Garlinghouse recalled, laughing, still visibly surprised.
“I’m sorry, I was wrong, and you did an amazing job”
Brad said it $XRP scene 👇
Gary Gensler came to him in the White House and apologized.
“I’m sorry… I made a mistake”
Claim years. The entire XRP community was called crazy
The man who led the attack admitted he made a mistake.
we held We were right.pic.twitter.com/uRTHemLdxO https://t.co/yipZdVP7Yc
– X Finance Bull (@Xfinancebull) February 28, 2026
How the SEC and Ripple Battle Defined XRP
The four-year legal battle between the SEC and Ripple began in December 2020, when the US Securities and Exchange Commission sued Ripple for raising $1.3 billion through an XRP-linked securities offering, presenting XRP itself as an investment contract. This led to many exchanges delisting XRP, putting the token under a huge regulatory cloud for years, and the Ripple vs. SEC case becoming a symbol of the entire crypto market.
However, in 2023, Ripple won a very important partial victory when a judge ruled that ignoring certain issues with certain institutional sales, XRP was not a security when sold on public markets.
More than forgiveness
Gensler, who will step down as SEC chairman in early 2025, has become the face of many in crypto as he has pushed an aggressive “enforcement regulation” strategy against digital asset projects, and Garlinghouse himself has previously labeled him a “political liability” and an “autocrat.”
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That’s why his brief apology to Garlinghouse behind closed doors carries a lot of weight: it not only confirms Ripple’s report that the SEC overreached, but also hints at how Washington might interact with XRP and the broader crypto industry in the future.
XRP's price trends to the downside on the daily chart. Source: XRPUSD on Tradingview
Cover image of ChatGPT, XRPUSD on TradingView
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