Ripple’s stablecoin rollout was not a good deal for XRP, according to BitGo CEO Mike Belshe.
Speaking at the Digital Banking 2025 summit, Belshe used his panel to dismantle Ripple’s long-standing pitch for XRP as a bridge currency, calling the model outdated and inefficient compared to stablecoins.
The problem, in his view, was the design: swapping dollars for XRP, then XRP for pesos. Two conversions, he pointed out, that were unnecessary because USD stablecoins are “just better”. The launch of RLUSD, Ripple’s own dollar-backed token, confirmed that shift. “Ripple just launched a stablecoin,” he said flatly, underscoring the irony.
Related: Crypto News Site Cointelegraph Hacked in Fraudulent Token Scam
He pitched a near-future of seamless, global retail payments built on stablecoins: phones tapping at markets, interest dropping into wallets, no banks required. And for platforms hoping to scale, direct access to Fed rails was the real unlock, not more intermediaries.
Meanwhile, XRP is currently trading at US$2.18 (AU$3.35), a decrease of 1.8% in 24 hours, erasing most of the gains it saw this week when a Ripple co-founder made a sudden and strange reemergence.
The token’s price has experienced a lot of volatility just like the rest of the market. However, there was a slight uptick of optimism shortly after Trump announced a ceasefire in the Middle East.
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