XRP Becomes Wall Street's Banker Coin Template, Garlinghouse Says

Brad Garlinghouse endorsed a claim that Wall Street firms now race to copy the bank-focused model behind XRP (XRP), as Ripple pushes $4 billion into mainstream finance.

Garlinghouse Endorses Banker Coin Claim

The Ripple chief replied with a single word, "True," to a viral observation from Flare co-founder Hugo Philion about how far industry sentiment has shifted. The remark spread quickly across X on June 10, lifting a community mood battered by weeks of falling prices.

Philion noted that XRP and Ripple were dismissed in their early years as a so-called banker coin, criticized for working closely with banks and large financial institutions. He argued that nearly every crypto project now scrambles for those same relationships with payment providers and traditional finance. The label, once an insult, has become the industry's goal.

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Ripple's $4B Wall Street Push

The endorsement lands as Ripple deploys roughly $4 billion to push beyond cross-border payments and into the core of Wall Street finance. Across 2025 the firm absorbed companies such as Hidden Road, Rail and GTreasury, building the infrastructure for that wider ambition.

Real-world assets, bank-linked settlement rails and institutional liquidity once marked out XRP's narrow corner of the market. Today they rank among the most crowded pitches in crypto. Mastercard recently tapped Ripple, Coinbase and other firms for an AI payments network designed to let autonomous software agents move money on their own.

XRP Price And Regulatory Backdrop

Philion said he has long followed the asset and still regards Ripple's payments strategy as broadly on track, blaming regulatory friction more than any flaw in the business model. This week over 200 crypto organizations, Ripple among them, pressed Senate leaders to schedule a floor vote on the CLARITY Act, the bill that would classify XRP as a digital commodity.

XRP traded near $1.11 on June 10, down about 5% on the day and roughly 11% across the week. The token briefly slipped below $1.10 for the first time since 2024 before recovering on heavy volume. The psychologically critical $1.00 mark now sits within reach of a normal weekly swing.

That dip caps a slide that has cut XRP roughly 38% so far this year, dragging it far below the $3.84 record it set in January 2018. For all the talk of banker coin vindication, the price itself has yet to follow the narrative higher.

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