Key Takeaways
- Brad Garlinghouse says RLUSD competes with other stablecoins and wants its use cases running on XRPL.
- Ripple’s stablecoin expansion also includes Ethereum and Base, making the location of activity important for XRP demand.
- Separately, Steph Is Crypto anticipates a potential record high.
Ripple CEO Brad Garlinghouse has pushed back against concerns that the company’s growing RLUSD stablecoin business could sideline XRP, arguing that the assets serve different markets.
His latest comments address whether Ripple’s expanding financial infrastructure will generate meaningful demand for XRP — or primarily benefit its dollar-backed token.
The debate comes as analyst Steph Is Crypto outlines a possible return to record highs.
Garlinghouse Says RLUSD Targets Other Stablecoins
In a Nov. 3 reply on X, Garlinghouse explained where he sees RLUSD competing.
“RLUSD isn’t competing with XRP. It’s competing with other stablecoins. Use case matters, and I want those use cases running on the XRPL.”
The exchange concerned whether deeper stablecoin liquidity on the XRPL could make XRP more useful, including in cases where its involvement in a transaction is indirect.
Holder Demands $15–$20 as Reward for Years of Support
As CCN reported on Nov. 2, supporter Fabrizio Scudu addressed Garlinghouse and David Schwartz in an emotional open letter, arguing that holders deserved a financial reward for supporting Ripple through its legal battle.
“We didn’t just buy an asset; we chose to fight the exact same war alongside you.”
Scudu described years of financial pressure and uncertainty, claiming that the community’s savings had helped sustain confidence in Ripple while the company fought regulators.
He then accused Ripple of diverting XRP’s potential toward RLUSD and other corporate businesses.
“You secured your future while leaving ours out in the cold.”
The letter framed a higher price as something holders were owed, demanding that the token reach what Scudu called:
“the true fair value it deserves ($15/$20+).”
He urged Ripple’s leadership to intervene:
“Take every step necessary. Execute every market action required to restore dignity to our sacrifice.”
However, Scudu supplied no valuation model supporting the requested price or evidence establishing that RLUSD had reduced XRP’s value.
Garlinghouse had already defended XRP’s importance in an earlier Bloomberg interview.
“XRP is at the heart of everything Ripple does,” he said.
RLUSD Can Support XRPL Without Every Payment Buying XRP
RLUSD allows customers to transfer a dollar-denominated asset rather than expose the payment amount to XRP’s price movements.
On XRPL, those transactions still require small fees paid in XRP, and accounts also face reserve token requirements.
These provide a baseline role for the native asset even when customers primarily hold stablecoins.
However, transferring RLUSD does not require converting the entire payment into XRP.
At the documented standard minimum fee of 0.00001, one million standard transactions would destroy only 10 XRP, before accounting for different transaction types or higher network load.
Garlinghouse’s preference for XRPL also aligns with Ripple’s expansion into other networks.
The company’s Oct. 28 Coinbase announcement included RLUSD deposits and withdrawals on XRPL, Ethereum and Base.
Ripple explicitly committed to providing liquidity on Base.
“Institutional appetite for compliant, high-quality stablecoins is clear,” Ripple’s stablecoin executive Jack McDonald said.
Analyst Sees Potential for a Near-Threefold XRP Recovery
Separately, Steph Is Crypto’s Nov. 1 analysis, reported Nov. 3, identifies bullish divergence between the token’s price and its relative strength index.
He said the pattern:
“signals that the sell pressure is possibly getting exhausted right now.”
The analyst anticipates a potential record high later in 2026 or in 202,and identifies approximately $1.10 as an important level for his bullish setup. He supplied no exact upper target.
Using XRP’s price near $1.29, a return to its recorded high of $3.65 would require around 183% growth, bringing the token to about 2.83 times that starting level.
In a previous post in October, the analyst predicted that the token would “fly to $15 before you know it.”
Many holders have pushed back against the calls, with some describing it as a “reach.”
“You keep changing your mind almost every day, first you bearish then you bullish, dude make up your mind,” one X user said.
Another wrote: “Anything above $1.5 is pretty much a reach.”
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
