Ripple CEO Brad Garlinghouse excites the XRP community with an artwork containing a downcast chimpanzee bearing his all-time favourite slogan. 

Garlinghouse also discloses that the Ether ETF approval and the passage of pro-crypto legislation in the US are the principal drivers of the market this week. 

Amidst the ongoing legal battle and the market momentum, Ripple’s CEO Brad Garlinghouse gingers the XRP community with a framed artwork of a chimpanzee wearing a sandwich board which reads “Laugh now, but one-day XRP will power the World.” Interestingly, this appears as an edited version of Banksy’s unsigned print listed for $26,651 to $38,073. 

According to our checks, the original artwork features a downcast chimpanzee bearing an anarchic title and slogan, “Laugh Now, but one day we’ll be in charge.”

Basically, Banksy’s monkey is a defiant representative of society’s underdog which offers the hopeful message that the oppressive nature of society will certainly find justice one day. Also, the “Laugh Now” piece first appeared at the “guerilla exhibition” in 2000 in East London.

Later, a hip-hop club in the early 2000s commissioned it with other versions appearing at Banksy’s exhibition in Los Angeles. In a nutshell, his use of this expression depicts his transition from a street artist to a political activist. 

In the actual sense, the XRP version of this legendary artwork carries the message of the opposition and neglect experienced by the project in the past couple of years. Having realized how related the original message is to the XRP’s struggle, Garlinghouse has framed this artwork and hung it on his wall. To him, this is his all-time favourite from the XRP community. 

For whatever reason, I’ve been hanging on to this one for a while…Prob my all-time favourite 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!!

Garlinghouse Comments on Market Momentum Rekindles Hope for XRP ETF

In a separate post, the Ripple CEO highlighted the two biggest momentums in the market this week. Per his observation, the SEC’s approval of multiple Ethereum ETFs as well as the U.S. House of Representatives’ passage of a pro-crypto legislation, also labelled as the Financial Innovation and Technology for the 21st Century Act (FIT21) are the main drivers of the rallies this week.

As earlier reported by Crypto News Flash, the SEC has approved eight Ethereum spot-based ETF applications. However, Bloomberg ETF analyst James Seyffart suggests that they would commence trading after the approval of S-1 documents filed by the applicants. According to him, it can take up to five months or less for the SEC to make this approval. 

TO BE CLEAR: This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple of weeks but could take longer. Should know more within a week or so!

Interestingly, this development has rekindled the hope that there could be XRP ETF soon. However, a section of the XRP community is concerned that the ongoing SEC vs Ripple lawsuit could affect the XRP ETF approval chances. 

At press time, XRP was trading at $0.5212 after declining by 1.14% in the last 24 hours, 5% in the last 30 days, and 17% from year-to-date. 

 

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Filed under: Bitcoin - @ May 24, 2024 8:24 am