A former Ripple bigwig has dropped a bombshell. XRP, the cryptocurrency associated with Ripple, isn't meant for regular folks. Dilip Rao, ex-global head of infrastructure innovation at Ripple, spilled the beans at a Dubai summit. Rao's comments came during a Q&A session. Attendees were curious about crypto's speculative nature. They wondered if it was hurting the industry's growth. The ex-exec didn't mince words. He admitted that many people trade XRP speculatively. But that's not Ripple's endgame. Over 200 exchanges globally trade XRP. Rao suggested some of this activity is superficial. Ripple has bigger fish to fry. They're positioning XRP as a tool for big-shot institutions. The goal? Use it as a bridge in hefty financial transactions. Rao acknowledged the market noise. But he pointed to a shift. In one quarter, most of Ripple's XRP sales were to institutional investors. This marks a turning point. "As this transition from retail to institutional use continues, XRP will be used more for wholesale financial purposes," Rao said. That's when things will get interesting. These comments were made back in 2018. The XRP Army recently dug them up. A lot has changed since then. XRP is still a hot commodity. It's among the top ten traded crypto assets. But it's not all sunshine and rainbows. Ripple's XRP sales to institutions have landed them in hot water. U.S. regulators are demanding up to $2 billion in fines. Despite this, XRP holders remain bullish. They're banking on institutional interest to drive up the asset's value. One enthusiast even claimed, "Every single XRP will be like GOLD." Rao's past role at Ripple was no small potatoes. He led teams in securing banking partnerships for RippleNet. His work helped launch Ripple-powered payment services across multiple regions. In the end, Rao's comments highlight a crucial question. Is XRP destined for Wall Street, or will it remain a retail darling? Only time will tell.

July saw a fierce crypto showdown. XRP emerged as the dark horse. It outperformed Bitcoin, Ethereum, and Dogecoin among the top 10 cryptocurrencies by market cap. XRP's price skyrocketed from $0.4 to $0.65. CryptoRank data shows a 35.3% monthly gain. Bitcoin crawled up by 6.09%. Dogecoin managed a measly 1.37% increase. Ethereum actually dipped by 3.46%. What's behind XRP's surprise win? It's all about the legal drama. The ongoing battle with the SEC is the key player here. Judge Analisa Torres ruled that some XRP sales weren't securities. But Ripple's not off the hook yet for its $1.3 billion ICO. The SEC initially demanded $2 billion. Ripple shot back with a $10 million offer. This tug-of-war left investors feeling pretty miffed. It's been dragging on for ages, hitting XRP's price hard. But things took a turn this month. Ripple CEO Brad Garlinghouse hinted at a light at the end of the tunnel. He said the lawsuit would wrap up soon. No specific date, though. Talk about keeping us on our toes! Garlinghouse's comments lit a fire under XRP. The price jumped from under $0.58 to $0.65. Investors perked up. Daily trading volume spiked 14% on Wednesday, crossing $2.36 billion. The crypto community is buzzing with anticipation. Many expect XRP to rally once the lawsuit concludes. It's been a long four years in the legal trenches. One analyst, Common Sense Crypto, is particularly bullish. They reckon the end of the legal saga could push XRP to a whopping $100. That's some serious optimism right there. But let's not get ahead of ourselves. The crypto world is as unpredictable as ever. XRP's July performance was impressive, no doubt. But in this game, today's underdog can be tomorrow's top dog.

Ripple, the payments network, is throwing $10 million at tokenized U.S. Treasury bills. These digital assets will debut on the XRP Ledger. OpenEden, a tokenization platform, is behind the TBILL tokens. They represent short-term U.S. government debt. The tokens are backed by short-dated U.S. Treasuries and reverse repos. These repos are a bit of financial wizardry. Securities are sold with a promise to buy them back later at a higher price. Tokenization is all the rage in crypto these days. It's touted as a more efficient way to handle traditional assets. Big names are jumping on the bandwagon. BlackRock, the 800-pound gorilla of fund management, launched a similar product on Ethereum in March. Ripple's move is part of a bigger plan. They'll allocate more funds to tokenized T-bills from OpenEden and others. No specific dates were mentioned, though. For the uninitiated, XRP Ledger is an open-source blockchain. It uses XRP cryptocurrency for global money transfers and currency swaps. As of Thursday, tokenized U.S. treasuries have locked up over $780 million. That's according to rwa.xyz, a tracking site. This shift towards tokenization is shaking things up. It's making waves in how traditional assets are issued and managed. Ripple's play could be a big deal. It's bringing a slice of traditional finance to the crypto world. The impact? Only time will tell.

The long-running legal battle between Ripple and the US Securities and Exchange Commission (SEC) is coming to a head. A final judgment is expected this week. Settlement rumors have been put to bed. Judge Analisa Torres is set to rule on penalties and injunctions. The case has dragged on for nearly four years. It all started in December 2020. The SEC accused Ripple of flogging unregistered securities. Ripple hit back, claiming XRP is a digital currency like Bitcoin. Torres already handed down a partial ruling. She classified XRP sales on exchanges as non-security. But institutional trades? Those were securities, she said. Legal eagles James Murphy and Fred Rispoli reckon the final judgment will drop in early August. There's a small snag, though. Judge Sarah Netburn is still working on a motion. Market watchers have poo-pooed settlement talk. Pro-XRP lawyer Bill Morgan says it wouldn't do either side any favors. "Settlement means compromise," he noted. "It's not a big win for Ripple." Former SEC lawyer Marc Fagel agrees. He points out both parties would lose their right to appeal. The SEC might have to kiss goodbye to its $2 billion fine too. One potential roadblock remains. Both sides could appeal previous rulings. But blockchain buff Mickle thinks that's unlikely. He reckons the SEC's case is weak sauce. The judgment could have wider implications. Other crypto firms battling the SEC might use it as ammo. Meanwhile, XRP's been on a tear. Traders have been taking profits left and right. The Network Realized Profit/Loss stats have been climbing since July 12. At press time, XRP is trading at $0.6082. That's a 0.9% bump in 24 hours and a 27.8% jump over 30 days. Not too shabby for a token that's been stuck in the $0.5 range for ages. A win for Ripple could send XRP to the moon. But if the SEC comes out on top? XRP might take a nosedive.

Ripple CEO Brad Garlinghouse has cautioned US Vice President Kamala Harris against associating with anti-crypto lawmakers. His warning came after a video clip surfaced on social media. As many other people in crypto, Garlinghouse believes going against crypto might lead to losing votes, and thus looking election to Donald Trump, who is a biggest Bitcoin fan now. In the clip, US Representative Brad Sherman mocked Bitcoin. He compared it to a new coin called "Skibidi". Garlinghouse didn't mince words in his response. "It would behoove VP Harris to not listen to (and distance herself asap from) folks like this who spout utter nonsense," he wrote on X. The Ripple CEO didn't stop there. He pointed out a growing political divide on crypto. Democrats, he noted, aren't winning any votes with their anti-crypto stance. Republicans, on the other hand, are gaining support by embracing the technology. This advice comes at a crucial time for Harris. President Joe Biden recently endorsed her as the Democratic nominee for the upcoming elections. He dropped out of the race himself. Garlinghouse believes crypto-friendliness could be a make-or-break issue in the 2024 presidential elections. He's not alone in this view. Many in the crypto community share his sentiment. The Democrats have a reputation for being anti-crypto. This includes outgoing President Biden. Even his recent SEC Commissioner nominee, Caroline Crenshaw, is known for her skeptical stance on digital assets. Only a handful of Democrats, like Senators Cynthia Lummis and Kirsten Gillibrand, have shown support for crypto, other have either shown no interest in crypto whatsoever, or have been rather negative. This puts the party at odds with a growing voter base. Harris's own stance on crypto remains murky. She recently declined an invitation to speak at the Bitcoin Conference in Nashville. This move raised eyebrows in the crypto community. Bitcoin Magazine CEO David Bailey saw a silver lining in Harris's absence. He suggested it might avert a "potential disaster". Bailey cited Harris's involvement in policies that have led to the imprisonment of crypto developers and driven the industry overseas. The VP's refusal to attend the conference had a domino effect. It prompted Republican nominee Donald Trump to back out of two planned debates with Harris. This unexpected turn of events left many, including the crypto community, scratching their heads. Garlinghouse, for his part, remains open-minded about Harris. He urged others to judge candidates based on policies, not party lines. Given her Silicon Valley background, he believes Harris has a unique opportunity to reset critical issues like crypto regulation.