Novogratz Reverses Course On XRP Amid Ripple’s RWA Push

In an XRP-focused market roundup, the host highlighted Mike Novogratz’s unexpected shift in tone toward XRP, alongside renewed attention on U.S. crypto legislation and Ondo Finance’s expansion to the XRP Ledger.

The remarks matter because they point to a broader change in the conversation: less emphasis on XRP’s survival and more on whether regulated financial assets can move on-chain at scale.

Novogratz, the Galaxy Digital founder, said he had been wrong to assume XRP’s ecosystem would fade.

He cited Ripple’s continued institutional presence and the staying power of the “XRP Army,” saying XRP holders have built a durable community around the asset.

“Hats off” to Ripple after years of skepticism

“I was skeptical that XRP would have lasting power,” Novogratz said, referring to Ripple’s historically large XRP holdings. “I’ve been dead wrong. Hats off to Brad Garlinghouse and his team.”

Crypto Sensei framed the comments as a notable reversal from a longtime crypto industry figure who had questioned whether XRP’s structure could sustain a lasting value proposition. Novogratz did not announce a new XRP investment or partnership; his comments were focused on the resilience of the ecosystem and its holder base.

The video also pointed to Ondo Finance’s plans to bring its tokenized U.S. Treasury product, OUSG, to the XRP Ledger. An Ondo representative said its dedicated Ondo Chain is intended to support real-world assets in decentralized finance, including through crypto-native tools such as staking and additional yield mechanisms.

Crypto Sensei described the XRP Ledger integration as one of several potential routes for traditional financial value to move on-chain. He referenced the roughly $28.3 trillion U.S. Treasury market, while acknowledging that migration of assets to blockchain networks would likely begin gradually rather than arrive all at once.

Washington’s regulatory push remains a key variable

Another major thread was U.S. regulation. A lawmaker in the clip called for legislation that would define responsibilities for the Securities and Exchange Commission and Commodity Futures Trading Commission, arguing that “regulation by enforcement is a bad way to go.”

The speaker said congressional leaders, including Senate Banking Committee Chair Tim Scott and House Agriculture Committee Chair G.T. Thompson, had discussed digital-asset regulatory clarity with David Sacks, President Donald Trump’s crypto and AI adviser.

Crypto Sensei cautioned that even if legislation advances, implementation may take time. He cited the European Union’s Markets in Crypto-Assets framework, which was approved in April 2023 and became fully applicable toward the end of 2024, as an example of the gap between passage and real-world enforcement.

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