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

▲ XRP / ChatGPT generated image

Ripple CEO has declared a full restoration of market confidence, highly praising the resilience of the XRP ecosystem that has endured years of regulatory pressure.

The Crypto Basic reported on May 2 (local time) that Ripple CEO Brad Garlinghouse delivered an iconic message, commending the XRP community's patience at the recent 'XRP Las Vegas' event. CEO Garlinghouse revealed his firm commitment to the ecosystem by sharing a photo taken against the backdrop of the phrases "DIDN'T FOLD" and "XRP" displayed on a large billboard at Treasure Island during the event. CEO Garlinghouse emphasized, "Even in a crisis situation with our backs against the wall, we refused to fold," adding, "It's more enjoyable to see XRP under the bright lights of the billboard."

This statement is 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 (SEC) filed a lawsuit. Despite intense market pressure, with major U.S. exchanges like Coinbase and Kraken delisting it, Ripple maintained an aggressive defense in court. As a result, with the support of its community, Ripple achieved partial victories on several issues, including a ruling that XRP itself is not a security.

Even during the ongoing legal dispute, Ripple expanded its global operations and strengthened its foundation. It enhanced 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 SEC and the Commodity Futures Trading Commission (CFTC) recently referred to XRP as an example of a digital commodity.

Currently, the acceptance of 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 perseverance, some still express disappointment with XRP's price performance, which remains around $1.40. CEO Garlinghouse's message serves as an encouraging signal for XRP holders to maintain confidence amidst the general downturn in the virtual asset market, boosting community morale.

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