Ripple Backs UK Tokenization Push: Did Garlinghouse Save XRP?

In XRP news today, Ripple Labs has formally backed the UK HM Treasury’s Wholesale Digital Markets taskforce, positioning itself inside Britain’s effort to build what the company estimates could add £33Bn to the UK economy every year by 2035.

The announcement arrived alongside fresh disclosures from Ripple’s executive team about how close the company came to shutting down during its four-year legal battle with the US SEC, the agency that oversees securities matters in the United States.

This news came as XRP tumbled nearly 1% overnight, currently trading at $1.07 and continuing to struggle to breach resistance at $1.10. Daily trading volume is $955M, a -5% drop from yesterday.

🚨 UK Treasury names Ripple as its convergence model for wholesale tokenization

12-month plan: move tokenized repo, gilts & funds live
Cited: Ripple’s $1.25B Hidden Road buy + Santander UK cross-border rails

Impact: £33B/yr GDP boost, £14B/yr tax gain
UK now ahead of US, where… https://t.co/Xey08W6ww5 pic.twitter.com/wHBwTCSYmv

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) July 13, 2026

XRP News Today: What the Taskforce Is Actually Trying to Do

Ripple’s support is not a symbolic endorsement. In a post on X, the company said that onchain funds, bonds, and repurchase agreements are already being used rather than remaining ideas for the future. Ripple said these financial products can settle faster, cost less, and work better than many traditional systems.

The company identified the United Kingdom as a strong candidate to lead wholesale tokenized finance globally, pointing to its established capital markets and trusted regulatory system as structural advantages.

The £33Bn annual economic estimate is the figure Ripple cited when welcoming the government’s tokenization strategy and confirming its role supporting the taskforce.

Wholesale tokenization, the process of bringing traditional financial products onto blockchain networks, is increasingly being treated by institutional players as an infrastructure upgrade rather than a speculative crypto bet.

Ripple’s involvement suggests the firm is targeting the regulated financial-market modernization agenda directly, extending well beyond its established payments positioning.

Onchain funds, bonds and repo aren’t experiments. They’re already happening, delivering onchain financial instruments that are cheaper, better and faster than their legacy equivalents.

The UK has the capital markets depth and regulatory credibility to be a global leader in… pic.twitter.com/ELEP4x9UGL

— Ripple (@Ripple) July 13, 2026

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The SEC Lawsuit: How Close Did Ripple Come to Collapse?

In a separate development reported alongside the task force news, Ripple Chief Executive Officer Brad Garlinghouse disclosed that company leaders discussed shutting Ripple down only days after the SEC filed its lawsuit in December 2020.

One option under consideration was to close the business entirely, distribute XRP holdings to shareholders proportionally, and inform the SEC that the entity named in the suit no longer existed.

Garlinghouse said that fighting the case seemed daunting because the government had vastly superior resources. The company ultimately chose to continue operating in large part to avoid leaving hundreds of employees without jobs.

Chief Technology Officer David Schwartz confirmed that outside legal counsel told company leadership the business could not be saved and advised executives to strike a deal to protect themselves. Schwartz later clarified that his comments had been misread and that he never intended to suggest a shutdown was imminent.

Garlinghouse also disclosed that Ripple spent about $150M on legal fees during the four-year court battle. That backstory makes the UK taskforce announcement carry additional weight; a company that came within days of dissolving during the SEC lawsuit is now sitting at the table with one of the world’s most respected financial regulators.

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XRP Price: Support Holds, Direction Unclear

$XRP is slowly moving toward the short-term downside target after losing the rising trendline support.
For now, lower levels seem likely as long as $1.08 remains resistance.

This short setup is looking interesting here, and the current structure favors sellers while price stays… pic.twitter.com/Fy9N9NVATm

— Cryptorphic (@Cryptorphic1) July 14, 2026

XRP is still trading within a narrow range after recent price swings and a positive trend in XRP news. Market analyst More Crypto Online noted that both the most recent price rally and the subsequent pullback formed three-wave structures, a pattern that does not, on its own, confirm a strong bullish trend.

The analyst identified the support zone between $1.04 and $1.11 as the key level to watch, with a sustained hold there opening a path toward $1.19 and then $1.25. A close below that band would signal further weakness within the broader downtrend.

Longer-term performance provides context: XRP gained 47.6% in 2023, rose 31.2% in 2024, and added 35% in 2025. So far in 2026, the asset is up 3.89%. It shows that the digital asset has continued to post yearly gains despite periods of price weakness.

The UK taskforce participation gives Ripple a concrete regulatory foothold in one of the world’s largest financial centers at a moment when tokenized wholesale markets are moving from strategy documents into operational pilots.

Whether that translates into price momentum depends on how quickly the taskforce converts its mandate into live market infrastructure, and how clearly Ripple’s role within that infrastructure becomes visible to the market.

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