Ripple CEO Urges for XRP Inclusion in The U.S. Crypto Reserve, Warns Against Maximalism

Ripple CEO Brad Garlinghouse, in a recent tweet has reiterated his belief in a multichain future, urging the crypto industry to prioritize collaboration over competition.

This is in light of ongoing discussions surrounding the creation of a proposed U.S. government’s Digital Assets reserve. Garlinghouse emphasized that the reserve should represent the broader cryptocurrency industry rather than favoring one specific token.

This comes after a heated week-long debate between Bitcoin supporters and XRP advocates. Bitcoiners accused the XRP community of spreading negative propaganda against Bitcoin, while XRP supporters criticized Bitcoiners of promoting maximalism and refusing to embrace a more inclusive crypto ecosystem.

Ripple Call for Diversified Digital Asset Reserve

Garlinghouse firmly believes that a government digital asset reserve should not be exclusive to any single cryptocurrency.

“If a government digital asset reserve is created, I think it should be diversified. It should not be one token, whether it is BTC, XRP, or any other,” he stated.

Ripple has actively engaged with regulators to establish a clear legal framework for adopting XRP as part of the reserve. Garlinghouse stressed that the digital assets reserve must serve the entire cryptocurrency industry rather than focusing on a single asset. This perspective aligns with many financial experts who argue that diversification can enhance risk management and yield better returns.

“The crypto industry has a real shot, here and now, to achieve the many goals we have in common if we work together instead of tearing each other down.” Garlinghouse also shared.

Furthermore, to reiterate his commitment to a multichain future, Garlinghouse disclosed that he owns XRP, Bitcoin (BTC), and Ethereum (ETH), among other cryptocurrencies.

Criticism From Bitcoin Advocates

However, not everyone agrees with Garlinghouse’s perspective. Many financial experts argue that Bitcoin’s decentralized nature and limited supply makes it the only suitable choice for a national digital asset reserve.

Additionally, this is further exacerbated by Ripple’s alleged lobbying efforts, with many claiming the company seeks to include XRP in a digital assets reserve to benefit its interests only rather than the broader crypto ecosystem.

XRP and Bitcoin Price Fluctuations

The general cryptocurrency market has experienced downturns following these discussions, with Bitcoin and XRP both facing fluctuations.

At the time of writing, XRP was trading at $3.12, reflecting a 12.95% increase from its intra-day low of $2.71 while Bitcoin was trading at $102,857.83 showing a 4.11% increase from the previous day according to data from CoinMarketCap.