Ripple CEO Brad Garlinghouse recently posted a piece of artwork on social media, which has excited the XRP community.
The artwork, a stencil-style picture of a sorrowful chimpanzee carrying a sign that reads “Laugh now, but one day, XRP will power the World,” is a reworking of Banksy’s well-known “Laugh Now But One Day We’ll Be In Charge” painting.
For whatever reasons, I’ve been hanging on to this one for a while…Prob my all time favorite from the XRP community. It’s been hanging on a wall in my house… but with all this momentum in the market, I wanted to share it!! pic.twitter.com/L7c861JEJZ
— Brad Garlinghouse (@bgarlinghouse) May 24, 2024
Garlinghouse revealed that he had been holding onto this artwork for some time and decided to share it amidst the current market momentum. This post has sparked mixed reactions among the XRP community, reflecting the diverse sentiments surrounding the cryptocurrency.
Artwork’s Impact on the XRP Community
The artwork’s release has generated varied reactions from the XRP community. Some members expressed bullish sentiments, interpreting the artwork as a symbol of future success. Vet, an operator of the XRP Ledger dUNL, suggested that Garlinghouse mint the artwork on the XRP Ledger. This move could signify the XRP community’s resilience and determination in its ongoing battle with the SEC.
However, not everyone viewed the artwork positively. Some community members cited XRP’s underwhelming price performance, which is down 84% from its all-time high, as a reason for concern. The timing of Garlinghouse’s post, which came amid Ripple’s legal struggle with the SEC, prompted criticism. These diverse comments show the community’s varying perspectives on XRP’s future possibilities.
Banksy’s Influence and Symbolism
Banksy, a pseudonymous English street artist, frequently includes monkeys as a recurring element in his works. The first “Laugh Now” sculpture debuted in 2000 during a guerrilla show in East London. Variations of the artwork have since appeared in Banksy’s shows, representing a watershed point in his transition from street artist to political activist.
Garlinghouse’s artwork’s dejected chimpanzee might reflect the XRP community. This community has encountered various problems, including regulatory oversight and market instability. However, the artwork portrays a bright future in which XRP might play a key role in the global financial system.
Reactions and Market Impact
Prominent community members also weighed in on the artwork’s significance. Amelie, a crypto commentator with over 42 thousand followers on X, expressed pride in holding the digital asset. She noted that XRP is the greatest coin ever created. Similarly, JackTheRippler, another community member with over 216 thousand followers, likened XRP to the next Bitcoin. These endorsements reflect a segment of the community that remains optimistic about XRP’s potential.
#XRP is the next #BITCOIN! pic.twitter.com/qLP8uuN1cS
— JackTheRippler ©️ (@RippleXrpie) May 24, 2024
However, the current legal struggle between Ripple and the SEC continues to cast doubt on XRP. Some commenters attacked Garlinghouse’s choice to distribute the artwork while the firm was involved in a legal issue. The recent approval of the Financial Innovation and Technology for the 21st Century Act (FIT21) has fueled optimism. This legislative clarity may assist in deciding XRP’s status as a security and attract larger investors.
At press time, XRP was trading at $0.529129, with a 24-hour trading volume of $2,304,969,277. XRP is up 0.03% in the last 24 hours, with a live market cap of $29,329,880,171.
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