Ripple's Chief Executive Blasts Saylor's Debt Model as XRP's Network Activity Surges
28.06.2026 - 21:24:14 | boerse-global.de
The tension between Bitcoin's speculative accumulation and XRP's utility-driven design has erupted into open conflict. Ripple CEO Brad Garlinghouse launched a sharp critique of Michael Saylor's debt-funded Bitcoin purchasing strategy, branding it as little more than financial acrobatics that harms the broader crypto market. Saylor's preferred shares have hit a record low, trading roughly a quarter below their target, while the common stock slipped to its weakest level since February 2024. Bitcoin itself has wobbled near $59,500.
XRP, meanwhile, is fighting to stay above the psychologically critical $1 mark. The token settled at $1.04, just above a fresh 52-week low of $1.01 recorded last Wednesday. Since the start of the year, the cryptocurrency has shed about 44% of its value. The bearish pressure extends to the derivatives market: liquidations of long positions surged 832% in the past week, while open interest contracted from $1.18 billion to $1.04 billion as traders pulled capital.
Yet beneath the battered price chart, Ripple's underlying network tells a different story. On a single day in mid-June, the XRP Ledger processed nearly 770,000 transactions, with more than half classified as direct payments. Decentralized exchange activity also contributed heavily to the load, and the preceding day saw the figure exceed 900,000. The ledger is now approaching a million daily transfers – a milestone that Garlinghouse argues demonstrates real-world utility versus pure coin hoarding.
This utility narrative received a tangible boost on the regulatory front. Ripple's native stablecoin, RLUSD, has overtaken its presence on Ethereum: $810 million now resides on the XRP Ledger compared with $760 million on Ethereum. Japan's financial regulator has formally recognized RLUSD as a payment method, and the exchange SBI VC Trade is preparing to list it, strengthening the company's foothold in Asia.
Should investors sell immediately? Or is it worth buying XRP?
Ripple is also laying groundwork for institutional adoption. A newly introduced class of Multi-Purpose Tokens uses cryptographic proofs to keep transaction details and balances private – a feature banks have long demanded. The goal is to close the gap in the tokenized real-world asset market, where rival Stellar currently holds some $3 billion versus Ripple's $330 million.
In Europe, the company secured a provisional license from Luxembourg's financial supervisor, paving the way to operate as a regulated crypto service provider under the MiCA framework. From July 1, Ripple aims to serve 30 European countries under a unified license.
The regulatory picture in the US is less favourable. The probability of the CLARITY Act – legislation that would classify XRP as a digital commodity – passing has fallen to 42% on prediction markets. Banking lobby resistance has stalled progress just before the summer recess.
XRP at a turning point? This analysis reveals what investors need to know now.
The question for XRP holders is whether the network's accelerating adoption can outweigh persistent market headwinds. With support testing $1.01, a break below that level could trigger further selling. But the ledger's rising transaction volumes – and Ripple's expanding regulatory footprint – offer a foundation beyond pure price speculation.
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