Ripple CEO Brad Garlinghouse believes the crypto industry will significantly influence this year's U.S. elections. He highlighted that, for the first time in U.S. history, voters supporting crypto will play a crucial role. This development comes as U.S. crypto executives push for favorable legislation and celebrate recent successes in the Ripple vs. SEC lawsuit.

Crypto lobbyists, including lawyers, have been instrumental in shaping the FIT21 crypto bill. Sheila Warren, CEO of the Crypto Council for Innovation, mentioned that her team has been working on some of its provisions for over a year and a half.

Ripple's Garlinghouse and Blockchain Association CEO Kristin Smith have launched an extensive lobbying campaign to promote pro-crypto regulations. Their efforts paid off with the U.S. House's recent passage of a bill supported and drafted by the crypto industry. Garlinghouse urged Democrats to move away from Elizabeth Warren's anti-crypto stance and collaborate with Republicans to foster innovation in the U.S.

Garlinghouse's comments followed his prediction that the SEC would ultimately lose the Ripple case, despite ongoing appeals. He accused the SEC of attempting to paint Ripple as a bad actor through the lawsuit.

Over the past four years, crypto companies and investors have spent at least $149 million advocating for pro-crypto regulations. This financial influence has helped elect supportive lawmakers and defeat opponents. Leading crypto entities like Coinbase and Ripple, along with groups such as the Blockchain Association and the Crypto Council for Innovation, assisted House Republicans in crafting the FIT21 bill. This legislation aims to transfer some regulatory powers over crypto from the SEC to the CFTC.

Garlinghouse emphasized the importance of portraying the positive aspects of the crypto industry. He noted that Democrats like Ro Khanna, Kirsten Gillibrand, and Richie Torres have received substantial donations from the crypto sector.

Judge Torres' ruling in the FIT21 bill echoed a key decision in the Ripple case, asserting that XRP is not a security. The bill clarifies that a digital asset sold under an investment contract does not become a security through such transactions.

Despite a recent 2% drop in XRP's price, with current trading at $0.528, trading volume has surged by 25% in the last 24 hours. The price range for XRP has been between $0.521 and $0.539.

In conclusion, Garlinghouse's confidence in the crypto industry's political influence and legal victories reflects a growing momentum for crypto-friendly policies and regulations. The concerted efforts by industry leaders to shape legislation and public perception are likely to have significant impacts on the future of cryptocurrency in the U.S.