Brad Garlinghouse, CEO of Ripple, recently sparked speculation and anticipation within the XRP community with a cryptic post on his X account. The post featured a chimpanzee artwork with the words “Laugh now, but one day XRP will power the world” on a sandwich board worn by a downcast chimpanzee. This artwork has left the community wondering if it signifies the coin’s legal battle or hints at an upcoming innovation that will impact the crypto industry as a whole.
While some crypto users view this post as a reason to sell their coins, others interpret it as a bullish sentiment. Many community members see it as a clue towards a major announcement that could enhance XRP’s acceptance and utility. Additionally, Ripple’s recent legal victories against the SEC, where a judge ruled that XRP is not a security, have further advanced the network.
Ripple is also expanding its presence in the stablecoin market by planning to introduce a stablecoin backed by USD and other cash equivalents, alongside XRP. This new asset will operate on both the XRP Ledger and Ethereum blockchain, showcasing Ripple’s ambition to broaden its influence in the cryptocurrency space.
The approval of the FIT21 Act, which provides regulatory clarity for digital assets in the United States, has instilled optimism within the XRP community regarding the potential impact of this new regulation on the coin. Interestingly, the XRP community believes that XRP has a good chance of being approved by the SEC as a spot ETF, making it the next coin to receive such approval.
In other news, an executive from Coinbase has classified Ethereum (ETH) as a commodity after the approval of an ETF for the cryptocurrency.