XRP price prediction remains bullish, after gaining immediate support near $0.3460. The XRP coin had been trending upward for several days, but it was unable to maintain that momentum, falling from a high of $0.3920 to a low of $0.3200.

The positive comments made by Brad Garlinghouse, CEO of Ripple Labs, may, however, be attributed to the previous upward bounce. He believes that if integrity and trust remain the primary goals, the cryptocurrency sector will recover more quickly from the FTX crisis.

He encouraged open dialogue while addressing pressing societal issues with blockchain technology and cryptocurrency.

Contrarily, the bearish cryptocurrency market, which was influenced by several variables, was regarded as one of the major causes that overshadowed the recent positive comments and had a negative impact on the XRP coin.

Ripple Labs CEO Brad Garlinghouse spoke on Wednesday at Ripple Swell, Ripple's annual conference, about the cryptocurrency market's recovery following the FTX collapse.

FTX recently filed for Chapter 11 bankruptcy. Garlinghouse's next tweet is largely a reiteration of his conference speech:

In the following tweet, he emphasized the importance of meeting in person to discuss how to use blockchain and cryptocurrency technologies to address real-world problems.

According to Garlinghouse, who spoke with CNBC on Wednesday, the notion that cryptocurrencies are unregulated is "overstated." He also mentioned that Ripple's chief counsel, Stuart Alderoty, told a press source on Friday that the company is actively seeking an Irish license to support its EU expansion.

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