Ripple CEO Touches on Sluggish Crypto Markets and XRP Development
2025-01-28
Ripple CEO Brad Garlinghouse recently added fuel to the ongoing crypto drama with a sarcastic comment on X (formerly Twitter): “Slow weekend, anything exciting happens?”
Source: Twitter (X)
What seemed like a lighthearted remark quickly turned into a hotbed of debate, particularly between Bitcoiners and XRP supporters.
Garlinghouse’s post, viewed over 2.3 million times, became a platform for discussing XRP developments, Ripple’s ongoing legal battles, and tensions with the Bitcoin community.
The drama sheds light on the divides within the crypto space and highlights Ripple’s position as both a target of criticism and a beacon for innovation. Let’s dive into the recent updates, the brewing feud, and the broader implications for XRP.
Ripple CEO Sparks Debate Amid Bitcoin Feud
Garlinghouse’s cheeky post might have been intended as a joke, but it landed right in the middle of a tense standoff between Bitcoin maximalists and XRP supporters. The friction stems from competing ideologies: Bitcoiners see BTC as the only legitimate reserve cryptocurrency, while Ripple’s advocates argue for XRP’s inclusion in broader financial frameworks.
This divide deepened after former U.S. President Donald Trump proposed expanding the U.S. crypto reserve beyond Bitcoin. XRP supporters rallied behind the idea, envisioning XRP’s potential role in such a reserve.
Meanwhile, Bitcoin maximalists rejected it outright, labelling XRP as “centralised” and questioning Ripple’s integrity.
Bitcoin Advocates Fire Back
Prominent Bitcoiners like Pierre Rochard, VP of Research at Riot Platforms, were quick to criticise Ripple’s stance.
Rochard accused Ripple of lobbying for government adoption of XRP while simultaneously flooding the market with the token. He tweeted, “With all due respect, walk the walk if you want credibility.”
Other Bitcoin advocates echoed similar sentiments, with Strike founder Jack Mallers accusing Ripple of jeopardising the crypto industry’s values, and Brady Swenson of Swan Bitcoin dismissing XRP as a “centralised scam.”
These arguments reignited the long-standing debate about Ripple’s decentralisation claims. Critics argue that XRP’s consensus mechanism, which relies on fewer validators than Bitcoin’s proof-of-work system, makes it vulnerable to centralised control by Ripple.
Ripple Defends XRP’s Position
Amidst the criticism, Ripple executives, including CTO David Schwartz, came forward to defend XRP’s decentralisation. Schwartz countered claims of centralised control, stating that the XRP Ledger’s mechanisms are designed to prevent manipulation.
He argued that such accusations are part of a long-running campaign to undermine XRP’s growing influence.
Ripple’s CEO, Brad Garlinghouse, also weighed in, dismissing the concerns as baseless and reiterating Ripple’s commitment to innovation.
He pointed out that Ripple is actively working to bring clarity to the crypto industry, highlighting its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
SEC Lawsuit: A Lingering Battle
The Ripple-SEC lawsuit continues to be a focal point for XRP supporters. Recently, Ripple requested a court deadline for filing its cross-appeal brief by April 16, 2025, sparking speculation about a potential settlement.
While the case drags on, optimism remains high, especially with the SEC’s new pro-crypto leadership. A settlement could provide Ripple with regulatory clarity and significantly boost XRP’s credibility. However, legal experts warn that the process might still take time, keeping investors on edge.
Read more about XRP:
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XRP (XRP), Market Cap, Price Today & Chart History
XRP Price Struggles Amid Market Downturn
While the drama unfolds, XRP’s price has taken a hit. It recently fell below the $3 mark, dropping 6% in 24 hours and 11% over the week. The broader crypto market is also experiencing a downturn, with the global market cap shrinking by over 7%.
Despite the decline, XRP remains the third-largest cryptocurrency by market capitalisation, underscoring its resilience. Supporters remain hopeful that ongoing developments, including a potential XRP ETF, could reignite its momentum.
XRP ETF Filing by CoinShares
Adding to XRP’s recent buzz is the news that CoinShares filed for an XRP ETF with the SEC. If approved, the ETF would allow institutional investors to trade XRP on Nasdaq, increasing its accessibility and market presence.
This filing comes amid growing interest in crypto ETFs, with several other firms, including WisdomTree and ProShares, also seeking approval for XRP-focused products. Such developments highlight the increasing institutional recognition of XRP’s potential.
XRP Trading: Why Bitrue Stands Out
For traders looking to capitalise on XRP’s potential, Bitrue offers a reliable platform for trading XRP and other cryptocurrencies. Known for its user-friendly interface and robust security features, Bitrue has become a go-to exchange for XRP enthusiasts.
Bitrue also provides advanced trading tools and features, such as XRP staking and futures trading, making it an ideal platform for both beginners and experienced traders.
If you’re considering trading XRP, Bitrue is a secure and efficient choice.
Conclusion
The ongoing drama between Ripple and Bitcoin maximalists underscores the deep divisions within the crypto community. Ripple CEO Brad Garlinghouse’s sarcastic remark on X catalyzed discussions around XRP’s role in the crypto world, from its potential inclusion in a U.S. crypto reserve to its regulatory challenges.
For those interested in trading XRP, Bitrue provides a secure and reliable platform to explore its potential.
Frequently Asked Questions
1. Why is Ripple criticised for centralisation?
Critics argue that Ripple’s control over the XRP Ledger makes it less decentralised compared to Bitcoin. Ripple executives, however, maintain that XRP’s structure prevents manipulation.
2. What is the status of the SEC lawsuit against Ripple?
The lawsuit is ongoing, with Ripple recently requesting a court deadline for its cross-appeal. A settlement remains possible, but the timeline is uncertain.
3. Where can I trade XRP securely?
Bitrue is a trusted platform for trading XRP, offering advanced features like staking and futures trading for both beginners and experienced traders.
Investor Caution
While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.
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