Ripple CEO Debunks A Major Misconception About XRP

Ripple CEO Brad Garlinghouse has directly addressed one of the biggest misconceptions surrounding the XRP Ledger, explaining why the company’s substantial XRP holdings do not give it control over the network.

Crypto commentator X Finance Bull drew attention to Garlinghouse’s explanation at Ripple Swell 2026, where he clarified Ripple’s role in the ledger’s operations and rejected claims that the company controls its decentralized infrastructure.

X Finance Bull also presented validator statistics to support Garlinghouse’s explanation, highlighting the independent structure of the XRP Ledger and its growing importance to financial institutions.

Brad Garlinghouse Explains Ripple’s Role In XRPL

Garlinghouse acknowledged Ripple’s significant contributions to the XRP ecosystem, including its work on the codebase and investments in companies developing around the network. However, he stressed that owning XRP does not give Ripple authority over the ledger because XRPL does not use proof of stake.

X Finance Bull supported this explanation with validator statistics. He noted that the XRP Ledger has more than 150 validators across its network, while Ripple operates only one of the 35 validators on the current recommended list. That gives Ripple approximately 2.9% representation on the list.

He explained that independent validators participate in transaction consensus, while network operators choose which validators they trust. Ripple can develop software and propose protocol improvements, but its XRP holdings do not give it additional voting power or allow it to impose decisions on the network.

The commentator also explained that XRPL requires at least 80% validator support for two consecutive weeks before a protocol amendment can take effect.

XRPL Upgrades Support Institutional Development

X Finance Bull highlighted three protocol upgrades that the network activated in 2026: Permissioned Domains on February 4, Permissioned DEX on February 18, and Batch Transactions on October 9.

He connected these developments to the financial applications that institutions can build on XRPL. He also cited several established companies that have expanded their activities around the ledger.

Aviva Investors launched a tokenized share class of its Sterling Liquidity Fund in October, following its USD fund share class in July. Franklin Templeton, DBS Bank, and Ripple also announced plans involving sgBENJI tokenized fund shares, RLUSD trading, and potential collateral financing.

Additionally, Standard Chartered introduced live institutional custody of RLUSD on XRPL and announced plans to develop additional collateral services with Ripple and LMAX Group.

Why X Finance Bull Remains Bullish On XRP

Beyond institutional adoption, X Finance Bull identified several ways increased network activity could strengthen XRP’s utility.

He explained that XRP pays transaction fees on the network, with the minimum fee currently standing at 0.00001 XRP. The ledger permanently destroys these fees after transactions. Each funded account also requires a 1 XRP base reserve, while certain ledger objects require additional reserves.

He further noted that XRP can serve as an intermediary liquidity asset between issued currencies when its exchange routes offer better pricing.

X Finance Bull expects this liquidity function to become increasingly important as more tokenized assets, stablecoins, and financial products enter the ecosystem.

He maintained that Ripple does not need to control XRPL for the ecosystem to succeed. Independent developers and financial institutions can build applications on the network while Ripple continues investing in its development.

Despite acknowledging XRP’s recent price weakness, the commentator reaffirmed his long-term bullish outlook. He described the current volatility as an opportunity for investors who understand the potential of the XRP Ledger and its growing financial applications.