Ripple’s CEO Questions XRP’s Central Role: What Does This Mean for Demand?
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Ripple CEO Brad Garlinghouse recently said he isn’t an XRP (CRYPTO:XRP) maximalist and suggested a stablecoin might better serve some customers’ payment needs than XRP. These remarks were shared in clips on X on September 24, 2026.
An XRP maximalist believes XRP will ultimately dominate the crypto space, and many argue that Ripple’s expansion directly boosts XRP demand. As Garlinghouse leads a company closely tied to XRP, his comments raise questions about the token’s future—currently trading at $1.55 as of September 25, up 4.5% for the day.
However, XRP remains down 15.6% for 2026 and 43.4% over the past year. So, if Ripple wants to offer customers the best options for their needs, what does that mean for XRP demand?
Garlinghouse Said a Stablecoin Might Solve a Payment Better Than XRP
During a recent panel discussion focused on crypto assets, Garlinghouse mentioned that a stablecoin might sometimes be the best solution for payments, stating, “It could be that XRP is the best bridge asset for that purpose, or it could be that, no, a stablecoin is going to solve that problem better.” He emphasized that he is optimistic about various cryptocurrencies and revealed that he also holds Solana.
Interestingly, Ripple’s products already include stablecoins. Ripple USD (RLUSD) is offered alongside USDC, Tether’s USDT, and traditional currencies to facilitate payments and transfers. RLUSD is designed to maintain a value of $1, while XRP’s price fluctuates based on market activity.
A Corporate Treasurer Has Clear Reasons to Pick a Stablecoin Over XRP
Ripple initially promoted XRP as a bridge asset, allowing funds to transfer quickly between countries without significant pre-funding, which could tie up cash in foreign accounts. However, XRP’s price can be highly volatile—rising from about $1.00 to $1.70 in just three days, from August 19 to August 22—and this unpredictability can challenge corporate treasurers. They must justify such price swings to auditors, even when holding XRP briefly.
In contrast, a dollar stablecoin settles quickly while keeping balances consistent with dollars at month-end. This stability lets finance teams avoid the hassle of hedging—contracts used to mitigate price fluctuations. As of September 12, Ripple reported that RLUSD had around $2.4 billion in circulation and facilitated about $750 million in daily transactions.
Ripple Can Grow Its Business Without Buying XRP
Ripple can expand its business without necessarily increasing demand for XRP. Each transaction settled in RLUSD, USDC, or USDT generates revenue for Ripple without requiring a purchase of XRP. Additionally, Ripple earns interest on the cash and Treasuries supporting RLUSD.
Ripple’s treasury business currently serves around 1,200 financial executives, managing about $13 trillion in transactions annually. These clients can choose whichever asset aligns best with their auditors’ requirements—often making the stablecoin the more straightforward option.
Garlinghouse’s comments are particularly significant since Ripple holds a substantial amount of XRP and releases up to 1 billion XRP (worth about $1.55 billion) from escrow each month. By distancing himself from the maximalist label, he is indirectly addressing the company’s balance sheet. His comments did not specify any customers committed to using XRP or indicate future settlement assets.
What Do Garlinghouse’s Remarks Mean for XRP Demand?
Garlinghouse’s statements challenge the assumption that every new Ripple customer will automatically purchase XRP. Now, XRP demand will hinge on whether clients choose to use the token for settlements. Recent price movements suggest that trading, rather than payment activity, has been driving XRP’s price—rallying approximately 23% from a close of $1.28 on September 15 to $1.57 on September 22 on high trading volume.
Ultimately, Ripple’s announcements regarding new customers will serve as critical indicators of XRP demand. If they announce XRP as the settlement asset, it could lead to a closer correlation between the token’s use and Ripple’s growth. However, if they highlight RLUSD or omit the settlement asset altogether, XRP’s price might continue to follow broader crypto market trends rather than being influenced directly by Ripple’s sales activities.
Contact [email protected] for any questions or corrections.
Sam Daodu is a crypto analyst and the editor of 24/7 Wall St.'s Crypto Desk, where he covers Bitcoin, XRP, Ethereum, Solana and the altcoins investors search for most. His work focuses on price levels, spot ETF flows, on-chain data and the regulatory decisions that move crypto markets, written so a first-time buyer and a seasoned trader can both use it.
Sam has written about crypto professionally since 2019 and has published more than 2,000 articles. Before joining 24/7 Wall St., he wrote for crypto media outlets and Web3 companies and ghostwrote for crypto founders and token launches. His analysis is syndicated on Yahoo Finance, MSN and AOL and has been cited by other crypto news sites. He also founded MacLabs Marketing, a content and personal branding agency for crypto founders and executives.
When he isn't reading charts, Sam is usually at the gym or watching One Piece, a series he maintains has better tokenomics than most altcoins.
