"XRP, No Surrender"...Will Ripple CEO Keep His Promise?

▲ XRP/ChatGPT generated image

Ripple's CEO praised the resilience of the XRP ecosystem, which has endured years of regulatory pressure, and declared a full restoration of market confidence.

TheCryptoBasic reported on May 2 (local time) that Ripple CEO Brad Garlinghouse delivered a symbolic message, commending the XRP community's patience at the recent 'XRP Las Vegas' event. CEO Garlinghouse revealed a photo taken during the event against the backdrop of the words 'DIDN'T FOLD' and 'XRP' displayed on a large billboard at Treasure Island, demonstrating the ecosystem's firm resolve. CEO Garlinghouse emphasized, "Even in crisis situations where our backs were against the wall, we refused to fold," adding, "It's more enjoyable to see XRP under the bright lights of the billboard."

These remarks are interpreted as a signal that XRP has moved beyond its defensive position and returned to the center of the market. In December 2020, XRP faced extreme legal uncertainty when the U.S. Securities and Exchange Commission filed a lawsuit. Market pressure was intense, with major U.S. exchanges like Coinbase and Kraken successively deciding to delist XRP, but Ripple continued an aggressive defense in court. As a result, based on community support, Ripple achieved partial victories on several issues, including a ruling that XRP itself is not a security.

Even while the legal dispute was ongoing, Ripple expanded its global operations and solidified its foundation. It strengthened its infrastructure by acquiring key companies such as Metaco and Standard Custody & Trust. Currently, Ripple is building a complete financial ecosystem encompassing payments, custody, and treasury operations, actively conducting business in international markets, including the United States. Regulatory uncertainty has also been largely resolved, as the Securities and Exchange Commission and the Commodity Futures Trading Commission recently referred to XRP as an example of a digital commodity.

Currently, the adoption by institutional finance is accelerating in the U.S. market, with several XRP spot ETFs being traded. However, market reactions are somewhat mixed. While many supporters applaud Ripple's resilience and long-term tenacity, some express disappointment with XRP's price performance, which remains stuck around $1.40. CEO Garlinghouse's message serves as an encouraging signal for XRP holders to maintain confidence even amid a general downturn in the virtual asset market, boosting community morale.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*