His public support continued into June, when $XRP’s 14th anniversary prompted a message celebrating the $XRP community. Garlinghouse described being part of the $XRP family as the honor of a lifetime. That message followed his February strategy comments and May assessment of the ecosystem’s prospects.
In February, he connected Ripple’s various businesses with its $XRP objectives. The executive said that $XRP is Ripple’s North Star and linked payments, prime brokerage, treasury, custody, and its stablecoin to efforts to increase utility, trust, and liquidity around $XRP and the $XRP Ledger.
The Interview Behind His Personal $XRP Stake
Garlinghouse outlined the personal investment behind his $XRP position during his conversation about crypto’s role in global finance at Faena Rose on Jan. 22, 2026. He linked his $XRP exposure to Ripple’s execution and participation by financial institutions:
“I own a lot of $XRP. I’m very bullish on $XRP in our use case in part because you have a company like Ripple that is successfully executing and getting more and more financial institutions into that network.”
His broader crypto outlook also reflected skepticism about governments’ management of money and a preference for assets with distinct applications. His description of being “incredibly bullish” concerned crypto overall, while his $XRP explanation centered on Ripple’s execution. The executive explained:
“I think bitcoin is a fabulous store of value and I think kind of owns that space as digital gold. I think other assets will own other use cases and I own some ETH.”
That distinction links what gives cryptocurrencies value with their different applications, rather than treating them as interchangeable investments. Garlinghouse also disclosed exposure to solana and rejected $XRP maximalism during the January conversation. His stated portfolio extended beyond the token associated with his company.
Payment Utility and Institutional Participation Shape His Thesis
The business case begins with moving money between currencies, where $XRP can act as an intermediary asset. The $XRP Ledger settles transactions in three to five seconds. Using $XRP as a bridge involves exchanging one currency into the token and then into another currency, linking markets through available liquidity.
Institutional participation extends beyond Ripple’s network. His January CNBC comments connected a bullish crypto outlook to institutional demand, which he believed valuations underrepresented. The argument combined expectations for broader financial-sector participation with the payment applications he described at Faena Rose.
Utility Developments Extend the Thesis Beyond Ripple
The utility theme also appeared in independent businesses, with Anodos Finance co-founder and CEO Panos Mekras describing $XRP treasury and payroll use on May 31. He reported that his company had bought $XRP for its treasury, held it, and paid its team with the asset since 2023, illustrating an operating use beyond trading.
Ripple CTO Emeritus David Schwartz highlighted a broader range of applications in a June 17 X post ahead of Swell. His comments on $XRP use cases covered payments, tokenization, interoperability, decentralized finance, and artificial intelligence. These were Schwartz’s observations about ecosystem development, complementing Garlinghouse’s earlier emphasis on practical financial applications.
Corporate tools developed alongside those public statements: On April 1, Ripple introduced digital asset accounts and unified treasury capabilities for managing $XRP and Ripple USD (RLUSD), its dollar-backed stablecoin, alongside cash. Features include real-time valuations and automated transaction records, with availability varying by geography.
The institutional infrastructure behind his January thesis continued to develop into October, when Evernorth completed its business combination on Oct. 9. The $XRP treasury company’s SEC filing detailed token contributions, including approximately 211.3 million $XRP from Arrington $XRP Capital Fund and 50 million $XRP from a trust affiliated with Ripple. These were contributions in exchange for equity, rather than open-market purchases, extending $XRP’s use as a corporate treasury asset.
