Ripple CEO Brad Garlinghouse refuted market speculation that the company is abandoning XRP in favor of its RLUSD stablecoin, affirming at the 10th annual Swell 2026 conference in New York that Ripple will "never give up on XRP." The clarification comes as the corporate entity projects exiting 2026 with $900 million in annualized product revenue while expanding its regulatory footprint.
Key Takeaways
- Garlinghouse rejected claims of a pivot, calling RLUSD and XRP "very complementary."
- RLUSD reached a market capitalization of $2.6 billion, reflecting an 88% surge this year.
- Ripple is on track for $900 million in annualized product revenue for 2026.
- The company secured final approval from the OCC for Ripple National Trust Bank.
Refuting the RLUSD Pivot Speculation
Speaking at The Shed in Manhattan during Swell 2026—which merged for the first time with the XRPL Apex developer summit—Garlinghouse directly addressed claims that Ripple had turned its focus away from XRP. Speculation grew as RLUSD gained commercial traction, recently securing institutional milestones such as when Moody's granted RLUSD an investment-grade rating.
However, Garlinghouse stressed that Ripple views RLUSD as a driver for the ecosystem rather than a replacement. "We will never give up on XRP," he told the audience, adding that "the momentum you're seeing around XRP is profound." He reiterated that the firm "will never do something we think is bad for the XRP ecosystem."
Record Financials and Regulatory Approvals
The firm's commercial momentum coincides with significant corporate milestones. Ripple disclosed it is set to finish 2026 with $900 million in annualized product revenue, a benchmark Garlinghouse highlighted on X on October 28, 2026. Meanwhile, the RLUSD market cap has expanded by over 88% to $2.6 billion after hitting a record high in January.
Regulatory expansion also took center stage, with Ripple obtaining final authorization from the Office of the Comptroller of the Currency (OCC) for Ripple National Trust Bank. US Treasury Secretary Scott Bessent joined Garlinghouse at the event, reiterating his projection that the total USD stablecoin market could exceed $2 trillion by 2028. The sentiment was echoed by Ripple CTO Emeritus David Schwartz, who posted on X during the event to "get on the @XRP train," even as traders watch technical levels following XRP derivatives volatility.
Why It Matters
Ripple's explicit reassurance addresses deep-seated community concerns that stablecoin infrastructure could eclipse utility for native layer-1 tokens. By positioning RLUSD as a liquidity bridge rather than a substitute for XRP, Ripple aims to preserve retail confidence while expanding enterprise banking capabilities via its new OCC charter. Moving forward, market participants will watch whether RLUSD's $2.6 billion market cap translates into verifiable transaction volume on the XRP Ledger or primarily benefits traditional corporate treasury flows.
