Why XRP is rising: Ripple denies Circle bid as stablecoin rollout expands

XRP has surged to $2.25 in early June, reigniting bullish forecasts from analysts and retail traders alike.

With Ripple’s regulatory clarity improving, its stablecoin RLUSD advancing, and speculation over an acquisition of Circle making headlines, XRP is once again at the centre of the crypto conversation.

However, Ripple’s CEO has now dismissed any suggestion that the firm sought to acquire Circle, the company behind USDC.

The denial could shift focus back to Ripple’s organic stablecoin strategy, as investors weigh the implications for XRP’s future.

Ripple CEO addresses Circle acquisition claims at Las Vegas event

Brad Garlinghouse, CEO of Ripple Labs, publicly dismissed speculation of an acquisition bid for Circle while speaking at a Las Vegas conference.

The event, moderated by Georgetown Law professor Chris Brummer, provided a platform for Ripple to confront weeks of reporting that alleged a multibillion-dollar offer had been made.

Brummer later confirmed in a post on X (formerly Twitter) that Garlinghouse was unequivocal in his denial.