Ripple CEO Brad Garlinghouse Discusses the Conclusion of the SEC Lawsuit and the Company's Strategic Outlook

In an interview with Bloomberg, Ripple CEO Brad Garlinghouse discussed the conclusion of Ripple's lawsuit with the US Securities and Exchange Commission (SEC), as well as the company's strategic outlook.

In an interview with Bloomberg, Ripple CEO Brad Garlinghouse provided an update on the status of the US Securities and Exchange Commission (SEC) case against his company and discussed some of the company’s strategic plans for the remainder of the year.

Topics covered in the interview included the possibility of an initial public offering (IPO) for Ripple, the role of XRP in a new US crypto stockpile, and the prospects for spot exchange-traded funds (ETFs).

The interview comes amid a pivotal moment for the crypto industry in the US, with bipartisan support emerging for stablecoin legislation and the Trump administration’s executive order establishing a Strategic Bitcoin Reserve and a separate Crypto Stockpile.

While the executive order did not explicitly name XRP, Garlinghouse believes the coin is a natural fit for the new crypto initiative.

“My understanding is there’s going to be a Bitcoin strategic reserve. There’ll be a crypto stockpile representing other cryptos, and I would expect that will include XRP,” Garlinghouse said.

According to the Ripple CEO, the Trump administration’s executive order is setting up a Bitcoin reserve, which will be funded by the US Treasury, and a separate crypto stockpile.

“That will be in that stockpile. So to the extent that various law enforcement agencies have seized cryptos, which would include XRP, that those would go into the stockpile in addition to the Bitcoin strategic reserve,” Garlinghouse added.

The interview also covered the potential for a spot XRP ETF, with multiple proposals pending approval from the SEC.

“There are 11 different filings pending with the SEC to launch ETFs, from everybody from Bitwise to Franklin Templeton and a whole bunch of people in between. I think those will be live in the second half of this year.”

Despite outflows seen in some crypto-linked products, Garlinghouse said that products linked to XRP have seen inflows, which he attributes to the “false negative pressure” that built up on XRP during the SEC case.

“I think you’ll see a couple of Bitcoin ETFs and then some broader crypto ETFs get approved in the second half of the year.”

When asked about the possibility of Ripple going public, Garlinghouse said that an IPO is not a top priority for the company, but it could be a possibility.

“It isn't a huge priority. Most companies go public because raising capital is high on their radar. We have been in a very fortunate position to be able to grow the business organically.”

He added that acquisitions are a more immediate focus for Ripple as it looks to expand its business.

“We will look at other things that are blockchain infrastructure companies. I think there will be consolidation this year. There’s a lot of excitement about some of the changes, and we will lean into that for sure.”

Turning to stablecoins, Garlinghouse said that Ripple is placing a significant emphasis on its own stablecoin, RLUSD, which launched last year.

“We launched our own stablecoin at the end of last year. That’s already ahead of our own internal forecasts. The goal is by the end of the year for RLUSD—which is pegged to the US dollar and brings the same technology and efficiency to stablecoins that XRP does to payments—to be one of the top five in the market.”

RLUSD currently sits around $230 billion in total stablecoin supply, but many analysts predict it could grow tenfold over the next five years.

“There’s a lot of excitement and activity around stablecoins. We’re seeing that with the use cases expand. For example, Robinhood is moving to 24/7 trading with stablecoins.”

With stablecoin legislation already advancing through Congress and Trump’s executive order setting the stage for a Strategic Bitcoin Reserve and a separate Crypto Stockpile, Garlinghouse expects to see the entire crypto market grow dramatically this year.

At press time, XRP traded at $2.44.