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HomeCrypto NewsMarketRipple CEO Teases: "Slow Weekend, Anything Exciting Happen?"

Ripple CEO Teases: “Slow Weekend, Anything Exciting Happen?”

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Ripple CEO Brad Garlinghouse posted a sarcastic post about recent developments in the crypto market, particularly regarding XRP. 

Garlinghouse took to X to emphasize that this past weekend was ‘slow,’ suggesting that there was significantly less crypto activity. Consequently, he asked his more than 1 million X followers to comment on whether any exciting event occurred over the weekend.

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Interestingly, the post gained significant attention within hours. Specifically, the post has garnered over 2.3 million views, 15,200 likes, 1,972 reposts, and 322 quotes from crypto enthusiasts.

It also attracted over 3,000 comments. Many of his followers referred to the post as sarcasm, given some exciting XRP-related developments from last week. 

Most users highlighted some of these developments, including the XRP ETF, the SEC v. Ripple lawsuit, and the possible creation of a reserve tied to XRP. 

Ripple CEO comment
Ripple CEO comment

XRP ETF

Last Friday, leading digital asset manager CoinShares joined the XRP ETF race by submitting an S-1 application to offer the product to authorized investors. The filing indicated CSC Delaware Trust Company as the trustee of the product. However, the prospective issuer has not revealed the custodian, administrator, and transfer agents of the ETF. 

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If approved, accredited investors can trade the CoinShares’ XRP ETF on Nasdaq in blocks of 50,000 shares. CoinShares’ filing brings the number of XRP-specific ETF applications to seven. Other prospective issuers include WisdomTree, Bitwise, ProShares, Canary Capital, 21Shares, and Rex Osprey. 

Strategic XRP Reserve 

Meanwhile, discussions regarding the possible creation of a Strategic XRP Reserve in the United States soared over the weekend. This discussion gained momentum after Donald Trump created a Presidential Working Group for Digital Assets via an executive order last week. 

Chaired by White House AI & Crypto Czar David Sacks, the group is tasked with establishing a regulatory framework for the U.S. crypto industry and also analyzing the potential creation of a national digital asset reserve. According to reports, the move could favor assets developed in the United States, including XRP. 

If this happens, market observers speculate that other countries will likely follow the United States to hold XRP as a reserve asset, potentially driving its demand and market value. 

SEC v. Ripple Lawsuit 

Furthermore, speculations about a potential settlement in the SEC v. Ripple lawsuit gained momentum after the crypto payments company asked the Court of Appeals for the Second Circuit to set a deadline of April 16, 2025, for filing its cross-appeal brief. 

Following the request, speculations suggest that Ripple hopes the pro-crypto SEC leadership will agree to settle the multi-year dispute before the filing date. 

Meanwhile, legal experts like Attorney Jeremy Hogan indicated that the request is a standard procedure, as the court of appeals also granted a similar request from the SEC. 

Despite these positive developments, XRP crashed below the $3 price mark in the early hours of today. The third-biggest crypto has been down 6% over the past 24 hours and 5.17% over the past seven days. This drop reflects the broader market’s performance, which has plunged by 5.37% to $3.42 trillion. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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