Grayscale Calls XRP a Global Payments Asset as Ripple CEO Reveals Company Nearly Shut Down

• Grayscale identified XRP as the blockchain built for global payments in its latest crypto market-related tweet despite a major setback in its price
• Ripple CEO Brad Garlinghouse revealed the company nearly shut down after the SEC filed its lawsuit in 2020
• Despite improving institutional recognition, XRP price continues to lag, raising questions about when sentiment will translate into market performance

XRP’s price has struggled to find fresh momentum, even as the story surrounding Ripple has taken a noticeably different turn. As Grayscale noted XRP as the blockchain for global payments, Ripple’s CEO Brad Garlinghouse disclosed that the company once debated shutting its doors after the SEC’s lawsuit in 2020. Amidst this, Forbes’ recent recognition of XRP’s utility caught the attention of many. But the sentiment seems to be improving faster than the market is reacting.

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XRP Price Stays Muted as Grayscale Doubles Down On Payments Narrative

In a recent post on X, Grayscale categorized major crypto assets by their primary use cases, describing Bitcoin as “digital money,” Ethereum as the “world computer,” and XRP as the network for global payments. The asset manager grouped XRP alongside projects serving distinct roles across the digital asset ecosystem rather than treating cryptocurrencies as interchangeable investments.

The characterization aligns with the firm’s long-standing focus on cross-border payments through Ripple Payments. This uses blockchain technology to settle international transactions more efficiently than traditional correspondent banking. Ripple says its payment network now spans 90-plus payout markets, covering the majority of the global foreign exchange market.

This perspective also echoes Forbes’ recent inclusion of XRP among its leading cryptocurrencies. It was citing the token’s payment utility and institutional partnerships as key strengths. Despite this, the price of XRP registered a 5.37% drop over the past week. At press time, the altcoin was trading at a low of $1.07.

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Garlinghouse Says Ripple Nearly Shut Down After SEC Lawsuit

The renewed attention comes with an unexpected look back at Ripple’s most difficult period. Speaking during an appearance at the University of Kansas School of Business, Brad Garlinghouse said Ripple seriously considered shutting down after the US Securities and Exchange Commission (SEC) sued the company in December 2020. Rather than winding down operations and distributing its XRP holdings, Ripple chose to continue fighting, citing the potential impact on employees and the broader business.

The legal battle ultimately reshaped the regulatory conversation around digital assets in the US. In 2023, Judge Analisa Torres ruled that XRP sales on public exchanges did not constitute securities transactions. This decision is widely viewed as a landmark moment for the crypto industry.

While Grayscale, Ripple, and even Forbes continue to reinforce XRP’s role in global payments, investors appear to be waiting for stronger market catalysts before translating that optimism into sustained price action.

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