Ripple CEO Stirs Crypto Community with Sarcastic Post – BitRss

Ripple CEO Brad Garlinghouse sparked conversations with a sarcastic post about the crypto market, particularly XRP ($2.82). On X (formerly Twitter), Garlinghouse labeled the past weekend as “slow,” humorously implying a lack of activity. He asked his 1 million followers if anything exciting had occurred.

Within hours, the post gained traction. It attracted over 2.3 million views, 15,200 likes, 1,972 reposts, and 322 quotes from crypto enthusiasts. Over 3,000 comments poured in, with many interpreting the post as sarcastic. Users highlighted key developments, including an XRP ETF, updates in the SEC v. Ripple lawsuit, and discussions about a potential XRP reserve.

CoinShares Joins the XRP ETF Race

Last Friday, CoinShares, a prominent digital asset manager, filed an S-1 application to launch an XRP ETF. The filing named CSC ($0.00) Delaware Trust Company as the trustee but left the custodian, administrator, and transfer agents undisclosed. If approved, accredited investors could trade the ETF on Nasdaq in 50,000-share blocks. 

Related article: Ripple CEO Criticizes 60 Minutes for Omitting Key XRP Ruling

CoinShares’ application adds to six others from firms like WisdomTree, Bitwise, and ProShares. Discussions about creating a Strategic XRP Reserve intensified over the weekend. This followed Donald Trump’s executive order forming a Presidential Working Group for Digital Assets, chaired by David Sacks. 

The group aims to create a regulatory framework and explore a national digital asset reserve. Reports suggest this move could benefit U.S.-developed assets like XRP. If implemented, analysts predict other countries may adopt XRP as a reserve asset, increasing its demand and value.

Ripple v. SEC: Settlement Speculations Grow

Speculation about a settlement in the SEC v. Ripple lawsuit rose last week. Ripple requested the Court of Appeals set an April 16, 2025 deadline for its cross-appeal brief. Observers believe Ripple hopes the SEC’s pro-crypto leadership will settle before this date. 

Related article: Ripple Achieves NYDFS Approval for RLUSD Stablecoin

However, legal experts like Jeremy Hogan clarified the deadline request as routine, noting the court granted the SEC a similar extension. Despite these developments, XRP fell below $3 today, marking a 6% drop in 24 hours and 5.17% over the week. 

This decline mirrors the broader crypto market, which shrank 5.37% to $3.42 trillion. Speculators remain optimistic, but market volatility persists.

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