Ripple CEO defends XRP role amid stablecoin growth and community debate

Ripple CEO Brad Garlinghouse has reaffirmed that XRP remains central to the company’s strategy, despite growing debate regarding the impact of the company’s stablecoin, RLUSD. Speaking on Bloomberg Crypto, Garlinghouse stated that XRP is at the heart of everything Ripple does, noting that RLUSD serves as an entry point that brings liquidity and activity to the XRP Ledger (XRPL).

The discussion follows reports that the XRPL stablecoin supply exceeded $1 billion in Q3 2026, driven largely by RLUSD, which accounted for 98.1% of the ledger’s stablecoin liquidity. While some critics and community members argue that RLUSD may be replacing XRP in dollar-to-dollar transactions, Garlinghouse maintains that XRP provides unique value as a neutral bridge asset for non-USD currency pairs, such as Australian dollars to Philippine pesos.

Internal community tensions have also surfaced through an open letter to Ripple leadership. The letter argues that the company should take market action to increase XRP’s value to reward holders who supported the firm during its legal battles with the SEC. However, other community members and legal experts have pushed back, noting that Ripple has no obligation to influence token prices and that holders purchased a commodity rather than company equity.