- Galaxy Digital CEO Mike Novogratz says XRP has reached a rare milestone where a large part of its user base treats it as real money, not just a speculative token.
- Novogratz admits his earlier doubts about XRP’s decentralization and design faded over time as Ripple grew and the XRP community proved unusually persistent.
- He believes XRP’s evolution shows how strong communities can shape a token’s long-term value — a timely statement as XRP ETFs gain traction in early 2025.
Galaxy Digital CEO Mike Novogratz surprised a lot of people this week with new comments about XRP — and honestly, the tone was very different from the skepticism he used to express. In a recent conversation with CoinDesk, Novogratz said XRP has reached a milestone that almost no other crypto project ever hits: a large part of its user base actually treats it as money, not just a speculative token they flip during hype cycles.
It’s a rare statement coming from him, especially considering his earlier doubts. But he explained that XRP has crossed a threshold that very few assets manage to reach — a point where people rely on it for practical value rather than temporary trading excitement. And in his words, getting a digital asset to that level takes “technology, durability, and real conviction from users.”
Novogratz Admits His Early Doubts Didn’t Age Well
In the interview, he openly acknowledged that he used to share the same criticisms many early adopters had about XRP. Concerns over decentralization, the network’s architecture, Ripple’s influence — all the classic talking points that XRP critics repeated for years.
But over time, those issues faded into the background. He said Ripple’s corporate growth played a role, sure, but it wasn’t the whole story. Something else mattered far more: the community refused to give up on the asset. Even during harsh market cycles, lawsuits, and endless online debates, the XRP community remained one of the most unshakable groups in the industry.
He admitted that this wasn’t something he expected when Galaxy Digital first gained exposure to XRP years ago. The evolution of the asset and the ecosystem around it, he noted, was “unusual, even for crypto.”
The XRP Community Played a Bigger Role Than Anyone Expected
Novogratz highlighted that one of the biggest forces behind XRP’s rise wasn’t just Ripple’s technology or partnerships — it was the global community that refused to walk away. XRP holders are known for holding through every kind of setback: regulatory battles, public criticism, slowdowns in adoption, everything.
That kind of discipline, he said, can change the trajectory of a token entirely. It transforms an asset from “something people trade” into “something people use.” And according to him, XRP is now an example of how community persistence can create long-term stability even when the technical or structural arguments aren’t perfect.
He even compared XRP’s community strength to major groups in the industry — including Bitcoin and Ethereum communities — saying that collective confidence can shape how a digital asset is perceived and actually used.
The Larger Message: Community Can Override Traditional Metrics
Zooming out, Novogratz said XRP’s journey shows something bigger about crypto in general: a strong community can sometimes matter more than a perfect network design.
He pointed out that this isn’t unique to crypto. In other industries, loyal communities reshape how products are valued and adopted — think video game franchises, open-source software, even some public companies. XRP, in his view, fits this pattern almost perfectly.
XRP’s survival through years of regulatory pressure, lawsuits, and heavy criticism shows, he argued, that community confidence can be powerful enough to preserve relevance when traditional evaluations might say otherwise.
A Timely Recognition as XRP ETFs Gain Traction
His remarks land at a pretty important moment. XRP investment products — including new ETFs — are gaining momentum in early 2025, attracting fresh investor attention from both crypto-native and traditional finance circles.
For many XRP holders, Novogratz’s updated stance feels like long-awaited validation from a major industry figure who once doubted the asset’s long-term viability. Whether it changes the broader narrative or not, it certainly adds weight to the idea that XRP holds a unique place in the digital asset world.
