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- Even with the creation of a new SEC task force and the implementation of pro-crypto regulations, Weiss Crypto remains unconvinced that these changes will fundamentally impact XRP’s future.
- This skepticism is shared by Ryan Selkis, who argues that despite the regulatory optimism, an XRP comeback remains unlikely.
The cryptocurrency community, particularly supporters of XRP, is buzzing with excitement over recent regulatory shifts and the possible resolution of Ripple’s long-standing lawsuit with the Securities and Exchange Commission (SEC). However, not everyone shares this enthusiasm. Weiss Crypto, a division of financial rating agency Weiss Ratings, has poured cold water on the hopes surrounding XRP’s resurgence.
In response to the growing excitement, Weiss Crypto stated:
A favorable regulatory shift doesn’t suddenly create a strong use case for $XRP. And limited real-world utility has been its fundamental issue since inception.
This sentiment echoes the concerns of Ryan Selkis, co-founder and CEO of Messari, who has long been critical of XRP’s value proposition. The recent excitement surrounding XRP stems from several key developments, including President Trump’s pro-crypto sentiments and the potential implementation of zero tax for U.S. crypto investors and assets.
Additionally, the formation of a new SEC task force is seen as a potential game-changer for crypto regulation. These factors have fueled speculation that XRP could experience a price surge and finally establish its long-elusive use case. However, not everyone is convinced.
Ryan Selkis’ Critical Analysis of XRP’s Journey
In a detailed X thread, Ryan Selkis outlined why he remains skeptical about XRP’s future. According to Selkis, Ripple had nearly abandoned XRP internally between 2015 and 2016, shifting its focus toward institutional settlement solutions. However, in 2017, the company pivoted back, promoting XRP as a “global bridge currency” and making a deliberate effort to boost liquidity. This strategy worked temporarily, leading to XRP’s meteoric rise as the top altcoin of the year.
1/ The real history of XRP and Ripple's catch-22.
In 2015-2016, Ripple had all but written off XRP internally. (I was there. I remember.)
They focused on their institutional currency settlement product instead, as it was the "blockchain, not bitcoin" heyday. The tech worked!
— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) February 14, 2025
Despite high-profile partnerships with companies like MoneyGram, Selkis pointed out that these institutions “merely sold off their tokens to boost their own revenue” rather than using XRP meaningfully. By 2018, the cracks in XRP’s value proposition became apparent, with Messari concluding that the asset “made no sense” and was overly reliant on retail investors for liquidity. The rise of stablecoins and Ethereum’s scaling advancements further eroded XRP’s institutional appeal.
Then, in December 2020, the SEC lawsuit dealt a significant blow to Ripple, leading to years of uncertainty. Though Ripple has since spent over $150 million fighting the case and secured legal victories, Selkis argues that the damage was already done. “The SEC was wrong,” he admitted, but he also believes that “time passed them by,” making an XRP comeback unlikely despite recent regulatory optimism.
Despite skepticism, XRP has been making notable strides. As we reported, the SEC recently acknowledged 21Shares’ and Grayscale’s application for a spot XRP exchange-traded fund (ETF), signaling potential institutional interest. However, analysts like James Seyffart believe approval may be delayed until Ripple’s lawsuit with the SEC is fully resolved.
Meanwhile, XRP has been performing strongly in the market, climbing 7% in the last 24 hours to trade at $2.76, just 28% below its all-time high of $3.40. Over the past week, it has gained 16%, with trading volume surging by 73%, signaling renewed investor interest.
