Brad Garlinghouse, the CEO of Ripple (XRP), recently shared his thoughts on the escalating tension between Bitcoin (BTC) advocates and XRP followers, a divide that has captured the attention of the cryptocurrency community.
The conflict arose when President Donald Trump suggested exploring a shift from a Bitcoin-focused reserve system to one that embraces a wider range of digital currencies.
This led to speculation and increased animosity between the two factions.
While supporters of Ripple embraced the proposal, viewing it as an opportunity for XRP to have a significant role, Bitcoin maximalists remained firm in their opposition, advocating for Bitcoin’s sole presence on the national balance sheet.
Ripple’s CEO and the Crypto Community
Recognizing the growing friction, Brad Garlinghouse, the CEO of Ripple, took to social media with a touch of sarcasm, asking,
“Quiet weekend, anything interesting happen?”
This sparked further discussion, with numerous XRP users expressing their opinions.
For example, one user remarked,
“Ripple already has regulatory clarity. Gary Gensler has taken over the SEC. The new SEC chairman is supportive of cryptocurrencies. Why hasn’t the case been dropped yet? Come on, Brad.”
Joining the conversation was Pierre Rochard, Vice President of Research at Riot Platforms, who commented,
“You want the government to invest in XRP, yet Ripple continuously sells XRP in large volumes? If you want credibility, you need to lead by example.”
This illustrates that the cryptocurrency industry, which previously aimed to show a united front following significant wins last year, is now experiencing a heated clash between two of its major communities.
What Triggered the Conflict?
The dispute escalated when Pierre Rochard from Riot Platforms accused Ripple of opposing the Bitcoin reserve concept and endorsing a multi-crypto alternative instead.
When Garlinghouse seemed to support these accusations, it sparked outrage among Bitcoin maximalists who advocate for a Bitcoin-exclusive Federal Reserve.
Industry Leaders Chime In
Jack Mallers, the founder of Strike, accused Ripple of endangering American “prosperity” and “freedom” through its lobbying, while Brady Swenson from Swan Bitcoin dismissed XRP as a “centralized deception.”
Adding to the tension, Samson Mow, a prominent Bitcoin supporter, suggested that Ripple has not faced sufficient scrutiny, further deepening the division within the crypto sphere.
He stated,
Impact on XRP’s Value
With tensions escalating between Bitcoin and Ripple proponents, XRP’s value has taken a hit, dropping to $2.76 after a decline of 11.03% in the last 24 hours, as reported by CoinMarketCap.
This decline could also be attributed to the broader cryptocurrency market downturn, which has seen a 7.11% reduction in the global crypto market capitalization, currently at $3.35 trillion.
In conclusion, internal conflicts and market volatility have created a challenging landscape for XRP, casting uncertainty over its price trajectory.