Portfolio manager of The Free Markets ETF, Michael Gayed, has once again captured the attention of the XRP community with a cryptic social media post.
Taking to X, Gayed shared a single-word message: “XRP.” The post contained no analysis, commentary, or price prediction, prompting many users to speculate about its meaning. However, Gayed did not explain, leaving followers to interpret the message on their own.
Nonetheless, the post continues Gayed’s recent pattern of referencing XRP and engaging with its highly active community.
XRP Community Welcomes Another Show of Support
Over the years, Gayed has earned a reputation among XRP supporters for his consistently bullish commentary. Regardless of market conditions, he has frequently rallied the “XRP Army” through posts such as “Where the XRP Army at?”
In addition, Gayed has demonstrated his enthusiasm for the token by creating and sharing multiple XRP-themed songs with the community. Given this history, many market participants viewed the latest post as another indication of his interest in XRP rather than a detailed investment thesis.
As expected, XRP supporters responded positively. Many interpreted the mention as a form of recognition, or even endorsement, from the well-known market commentator.
However, not everyone shared that enthusiasm. Some cryptocurrency advocates questioned the basis of Gayed’s continued support for XRP, arguing that he rarely provides detailed explanations for his optimistic outlook.
Gayed Bullish on Global XRP Adoption
Meanwhile, several users pointed to Gayed’s broader thesis regarding XRP’s long-term adoption prospects. According to Gayed, XRP adoption could expand globally, with Japan potentially leading the way through its banking sector.
He believes three key factors could drive this growth: Japan’s clear digital-asset regulations, strong demand for cross-border payment solutions, and the country’s long-standing connection to the yen carry trade.
Last year, Gayed argued that Japanese financial institutions are already advancing XRP adoption through real-world payment use cases. He highlighted SBI Remit as a notable example.
According to him, SBI began using XRP in 2021 to facilitate remittances between Japan and the Philippines. The company later expanded the service in 2023, enabling direct bank-account payouts in the Philippines, Vietnam, and Indonesia.
XRP Declines Alongside Broader Crypto Market
Gayed’s latest commentary comes at a time when XRP and the broader cryptocurrency market are facing renewed selling pressure.
Over the past 24 hours, the total crypto market cap has declined by 1.24% to $2.15 trillion, leading to the liquidation of $453 million over the past day. XRP has also recorded losses during the same period, falling 3.07% to trade at $1.12 at press time. The token recorded $6.77 million in liquidations, with long positions making up $6.3 million of the total.
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