Ripple and Bitwise Stun XRP Community With Unexpected Support for Bitcoin

The XRP community was caught off guard following surprising statements from senior figures at Ripple and Bitwise that appeared to endorse Bitcoin’s role in the crypto landscape. During a recent XRP-focused event in Las Vegas, Ripple executives and Bitwise’s Chief Investment Officer, Matt Hougan, delivered a message that emphasized cooperation with Bitcoin rather than rivalry.

Hougan, who attended the event, said that the XRP community is increasingly realizing that XRP and Bitcoin have separate uses. He mentioned that XRP is mostly about payment systems and asset tokenization, unlike Bitcoin, which is a store of value. While some appreciated his views, many in the XRP community had mixed reactions because of past issues with Bitcoin supporters.

Also Read: Chainlink’s Technical Breakdown Raises Alarms as Market Conditions Worsen

On the same occasion, Brad Garlinghouse, CEO of Ripple, suggested that those in the Bitcoin community should not be treated as rivals. This shift in his comments signals a different approach than seen before, when fights over Bitcoin’s effects on electricity use and its influence separated the crypto groups.

Larsen also recognized that Bitcoin has recently made progress regarding its environmental impact. He argued that reports show that more than half of Bitcoin mining currently depends on renewable power sources. He previously backed a Greenpeace campaign against the energy-consuming nature of Bitcoin’s proof-of-work system. People in charge of Bitcoin questioned Larsen’s real intentions for stepping down, showing that his action did not address the main problems.

ETF Plans and Price Forecast Signal Institutional Confidence in XRP

Bitwise’s ongoing push for a spot XRP exchange-traded fund has added further intrigue. The firm applied in October, and although the SEC has delayed its decision, the filing has been seen as a vote of confidence in XRP’s long-term value.

According to Bitwise, if the use of XRP spreads in payments and tokenization, it might reach $30 by 2030. Even though it is just an estimate, it highlights the institutional desire for XRP, overlooking the legal challenges from the past.

Ripple and Bitwise executives promoting Bitcoin suggest XRP is changing its overall approach. The constant changes in the market are leading to more calls for unity between significant crypto assets, and Ripple and Bitwise are now leading that effort.

Also Read: Ripple CEO Slams Bitcoin at IMF, Says XRP Is Future of Global Payments

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