Ripple CEO Brad Garlinghouse has reaffirmed that XRP remains a top priority for the crypto firm even as it continues to expand its operations. This comes ahead of the XRP Community Day, when the firm is expected to make major announcements that could boost the token’s utility.
Ripple CEO Assures XRP Remains A Priority
In an X post, Garlinghouse stated that the XRP family has and always will be at the top of mind for Ripple. This came in response to a statement by community member Mr. Man, who criticized those who said that Ripple wasn’t true to their word with XRP as the bridge asset. He added that the vision has not changed and that the direction remains aligned.
The CEO stated in response that he is glad to see the message is finally clearer, as they consider XRP a priority. This aligns with Garlinghouse’s statement at the start of the year, in which he declared that XRP has been and will continue to be the heartbeat of their vision to enable the Internet of Value.
Meanwhile, it is worth noting that Mr. Man was alluding to Ripple’s institutional DeFi roadmap on the XRP Ledger (XRPL), in which the firm positioned the token as a settlement and bridge asset. Contrary to speculations that the RLUSD stablecoin may replace XRP, the company noted that the latter serves as a bridge asset between the stablecoin and other tokens.
Notably, Ripple’s former CTO, David Schwartz, also once mentioned that the RLUSD cannot replace XRP as the bridge asset because XRP was more accepted worldwide and “jurisdictionless.” Meanwhile, Ripple also highlighted XRP’s role in base-layer mechanics, including reserve requirements, transaction fees, and bridging across FX and lending flows.
XRP Community Day Set To Hold Today And Tomorrow
Ripple has announced that the long-awaited XRP Community Day is holding today and tomorrow. Today’s session is for the EMEA (Europe, the Middle East, and Africa) and AMER (Americas) regions, while tomorrow’s session is for the APAC (Asia-Pacific) region. Speakers will include Brad Garlinghouse, Ripple President Monica Long, Ripple Chief Legal Officer (CLO) Stuart Alderoty, and David Schwartz.
The crypto firm also stated that the sessions will cover regulated XRP products, including existing institutional offerings, wrapped XRP, XRP Innovation Spotlights, and new features that will expand XRP’s utility.
The XRP Innovation Spotlight session will feature Ripple-backed XRP Treasury firm Evernorth, crypto exchange Gemini, and Wormhole, who will together demonstrate how they are using XRP today and outline their future plans and roadmaps. Bitwise’s Chief Investment Officer (CIO) Matt Hougan will partake in the session on XRP products, where they will discuss the growth of regulated XRP investment products.
At the time of writing, the XRP price is trading at around $1.38, down 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Pxfuel, chart from Tradingview.com
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