Ripple CEO Brad Garlinghouse has addressed speculations about the company abandoning the XRP project, stating that they are fully committed to it. This aligns with a statement made by a pro-XRP lawyer in 2023, who argued that it would be impractical for Ripple to abandon XRP.
There have been doubts within the crypto community regarding Ripple Labs’ dedication to securing and transforming the XRP ecosystem, with some suspecting that the project has been abandoned. A CNN interview with Brad Garlinghouse in 2021 contributed to these suspicions, as he hinted that Ripple might consider alternatives to XRP as part of its contingency plans in the US due to a lawsuit filed by the SEC regarding unregistered XRP sales.
The decision by Ripple to launch a stablecoin later this year has further fueled speculation that the company prefers stablecoin over XRP for international payments. According to an unconfirmed report, the stablecoin will be introduced on the XRP Ledger and Ethereum, allowing US-based clients to facilitate cross-border settlements via Ripple Payments.
The exclusion of XRP from Ripple’s Liquidity Hub has also contributed to the speculation. Ripple had previously announced that the platform would support XRP, along with other assets like Bitcoin and Ethereum. However, regulatory concerns were cited as the reason for excluding XRP from the list.
Addressing these speculations at the XRP Las Vegas 2024 event, Garlinghouse reaffirmed the company’s commitment to XRP, stating that anyone who doubts their dedication is simply misunderstanding the situation. This aligns with a statement made by Pro-XRP lawyer John Deaton in 2023, who argued that Ripple is committed to the project and would not abandon it. Deaton also highlighted the project’s valuation and the substantial amount of XRP owned by the company as reasons why it would be impractical to abandon it.
At present, XRP is trading at $0.52, with a 2.6% decline in the last 24 hours and a 13% decline in the last 30 days.
Overall, Ripple’s CEO and a pro-XRP lawyer have dismissed speculations about the company abandoning the XRP project, emphasizing their commitment to it.