The XRP community has been energized once again after Ripple CEO Brad Garlinghouse publicly supported a controversial view suggesting that much of today’s cryptocurrency industry is gradually moving toward the same strategy Ripple has pursued for more than a decade.
The discussion began when Flare co-founder Hugo Philion argued in a recent interview that many projects that once criticized Ripple for working with banks and financial institutions are now pursuing remarkably similar goals.
Garlinghouse later responded with a single word:
“Truth.”
That brief comment quickly sparked a wave of debate across the crypto community.
From “Bankers’ Coin” to an Institutional Trend?
Ripple was one of the first blockchain companies to focus heavily on partnerships with banks, payment providers, and financial institutions.
For years, that approach attracted criticism from parts of the crypto community. XRP was frequently labeled a “bankers’ coin,” while decentralization advocates argued that Ripple’s strategy conflicted with the original vision of cryptocurrencies.
According to Hugo Philion, however, the landscape has changed dramatically.
During the interview, he stated that the industry is increasingly moving toward connecting blockchain technology with traditional finance. Many companies are now exploring ways to collaborate with banks, tokenize real-world assets, and build infrastructure for institutional capital.
As a result, Philion believes a growing number of projects are heading in the same direction Ripple has followed since its inception.
Philion: Ripple’s Challenge Was Regulation, Not Its Business Model
The Flare co-founder also emphasized that, in his view, Ripple’s biggest obstacle was never its business model.
Instead, he pointed to the company’s lengthy legal battle with the U.S. Securities and Exchange Commission (SEC), which many observers believe slowed the development of the broader XRP ecosystem.
Philion argued that Ripple has remained committed to its original vision of building payment infrastructure for the global financial sector throughout that period.
“I think they have a strong solution, and they’ve remained remarkably consistent with that vision,” he said during the interview.
The XRP Community Responds
Shortly after the interview clip was shared online, it spread rapidly across social media platforms.
Many XRP supporters argued that institutions, banks, and large financial firms are now showing increasing interest in blockchain-based payment systems, asset tokenization, and settlement infrastructure.
These are precisely the areas where Ripple has focused its efforts for years.
Critics, however, pointed out that the claim that the entire industry is “copying XRP” remains an opinion rather than a verifiable fact.
The discussion once again highlighted how divisive Ripple continues to be within the cryptocurrency industry.
A Major XRP Ledger Upgrade Is Approaching
The debate comes at a time when the XRP community is preparing for the release of XRP Ledger version 3.2.0, scheduled for June 15.
The upgrade follows the successful rollout of version 3.1.3 and introduces a variety of enhancements related to NFTs, Multi-Purpose Tokens (MPTs), vaults, lending protocols, and permissioned domains.
One of the most notable changes is the planned transition of the core server software from “rippled” to “xrpld.”
According to developers, the move is intended to better reflect the growing open-source ecosystem surrounding XRP Ledger and highlight that the network has evolved beyond Ripple alone.
Is the Market’s View of XRP Changing?
Whether Philion and Garlinghouse are right remains open to debate.
What is clear, however, is that institutional blockchain adoption has become one of the dominant trends shaping the cryptocurrency industry today.
While projects focused on financial institutions were once heavily criticized, an increasing number of companies are now targeting payments, tokenization, and digital financial infrastructure.
The question is whether XRP was simply ahead of its time—or whether this is just the latest chapter in the long-running debate between Ripple supporters and critics.
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