Brad Garlinghouse has directly responded to criticism that Ripple has deprioritized XRP in favor of developing RLUSD, its dollar-backed stablecoin. Speaking during Ripple Swell week, the CEO stated: "We will never give up on XRP."
Garlinghouse addressed claims that Ripple was "leaning into RLUSD" at XRP's expense, rejecting the characterization. "We will never do something we think is bad for the XRP ecosystem," he said, describing such a move as making "no sense." He characterized XRP and RLUSD as complementary products rather than competitors.
Ripple's XRP Commitments
To demonstrate Ripple's ongoing involvement with XRP, Garlinghouse outlined the company's positions:
- Ripple is the largest holder of XRP
- It is the most active contributor of code to the XRP Ledger
- It has invested across multiple companies in the XRP ecosystem
- It plans to continue aggressive investment in the space
RLUSD's Role on the XRP Ledger
Garlinghouse explained that RLUSD adds on-chain liquidity, benefiting all XRP Ledger users. Currently, approximately half of RLUSD is deployed on the XRP Ledger and half on Ethereum. The XRP Ledger's share has grown significantly over the past year.
Garlinghouse highlighted XRP's speed and scalability as a layer-1 blockchain, describing it as "uniquely positioned" for major use cases.
Ripple's Business Growth
Garlinghouse noted that Ripple's revenue run rate reached approximately $300 million by the end of last year, with expectations to reach near $900 million by year's end. Growth spans payments, Ripple Prime, and Ripple Treasury, which now serves more than 1,000 corporates. Recent acquisitions made last year are performing well.
Much of Ripple's expansion has come from products that do not require XRP, a factor that has fueled some skepticism within the community. Going forward, XRP holders will likely monitor whether more of Ripple's business activity moves onto the XRP Ledger and utilizes XRP directly.
