Home Altcoins News Ripple CEO’s Sarcastic Post Highlights Major XRP Developments

Ripple CEO’s Sarcastic Post Highlights Major XRP Developments

XRP Developments

Ripple CEO Brad Garlinghouse recently made a playful comment on X (formerly Twitter) about the crypto market’s pace, saying, “Slow weekend, anything exciting happen?” This tongue-in-cheek remark quickly caught the attention of his followers, who, despite his humorous tone, pointed out that there had indeed been noteworthy developments involving XRP and Ripple over the weekend. Garlinghouse’s post received more than 2.3 million views and thousands of likes, reposts, and comments from the crypto community.

Although Garlinghouse’s comment was lighthearted, several significant events unfolded surrounding Ripple’s XRP token, including updates about an XRP ETF filing, the ongoing SEC lawsuit, and discussions regarding the possible creation of a U.S. strategic XRP reserve. Many users quickly responded to Garlinghouse’s post, highlighting these developments as evidence that the weekend was far from slow.

CoinShares Files for XRP ETF

One of the most significant developments was CoinShares’ filing for an XRP ETF. On January 26, 2025, CoinShares, a leading digital asset manager, submitted an S-1 registration form to the U.S. Securities and Exchange Commission (SEC), proposing an XRP ETF. If approved, this ETF would be available to accredited investors and could be traded on Nasdaq in blocks of 50,000 shares. This move adds to the growing list of XRP-focused ETF filings, with other players like WisdomTree, Bitwise, ProShares, and 21Shares also entering the space.

The filing signals increasing institutional interest in XRP as an asset class. Despite the legal challenges Ripple continues to face, the filing shows confidence in XRP’s long-term potential, especially as the demand for diversified crypto investment products continues to grow. This further underscores the market’s view that XRP is gaining recognition as a valuable digital asset.

U.S. Strategic XRP Reserve Discussion

Over the weekend, discussions around the creation of a U.S.-based strategic XRP reserve also gained significant traction. This conversation was triggered by a pro-crypto executive order from President Donald Trump, which set up a Presidential Working Group to develop a regulatory framework for the U.S. crypto industry. Among the group’s responsibilities is the potential creation of a national reserve of digital assets, which could include cryptocurrencies developed within the U.S., such as XRP.

Ripple’s CEO, Brad Garlinghouse, voiced his support for XRP being included in such a reserve. The notion of the U.S. government maintaining a national digital asset reserve consisting of U.S.-developed cryptocurrencies is seen as a potential boon for XRP’s future value. If other nations follow suit and build their own reserves with XRP, the demand for the asset could increase significantly, bolstering its market position.

Updates on SEC v. Ripple Lawsuit

The SEC v. Ripple lawsuit continues to capture attention, especially with speculation rising over a potential settlement. Ripple recently requested a deadline from the Court of Appeals for the Second Circuit, aiming to set the filing of its cross-appeal brief by April 16, 2025. This move has raised hopes within the community that the newly appointed pro-crypto leadership at the SEC might seek a settlement, thus bringing an end to the prolonged legal battle.

Legal experts note that this request is standard procedure in the appeal process, and the case is not likely to resolve quickly. However, the possibility of a settlement continues to fuel optimism among Ripple supporters.

XRP Price Action

Despite the positive developments for Ripple, XRP’s price dropped below the $3 mark, seeing a 6% decrease in the last 24 hours and a 5% drop over the past week. The price movement reflects a broader market downturn, which has affected most cryptocurrencies. The overall market cap of cryptocurrencies has fallen by over 5%, currently sitting at $3.42 trillion. However, XRP’s position as the third-largest cryptocurrency remains intact, and investors are keenly watching for any shifts that might push its value higher.

Garlinghouse’s “slow weekend” post was likely a tongue-in-cheek way to draw attention to the ongoing developments surrounding XRP, which continue to play out as Ripple navigates both legal challenges and regulatory shifts. With the potential creation of a national digital asset reserve and increased institutional interest, Ripple’s future looks promising, even as the crypto market faces fluctuations.

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Sakamoto Nashi

Nashi Sakamoto, a dedicated crypto journalist from the Virgin Islands, brings expert analysis and insight into the ever-evolving world of cryptocurrencies and blockchain technology. Appreciate the work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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