In the latest XRP news, Ripple Labs has joined the UK Treasury’s Wholesale Digital Markets Taskforce, a 54-company initiative that estimates that tokenized wholesale finance could add up to £33 billion to the UK’s annual economic output by 2035. The move puts Ripple in the room alongside large institutions – a composition that indicates this program is rooted in institutional finance, not crypto-native advocacy.
Ripple’s participation is that of a working group member, not an advisory lead or designated pilot operator. The distinction is important: with more than 50 organizations involved, Ripple has a seat at the table where tokenization standards for UK wholesale markets will be developed, but it does not control the direction of the program.
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XRP News: What the Working Group is Really Building
The annual economic estimate of £33 billion comes from the UK Treasury’s own policy documents, not Ripple. The company cited this figure in its public statement of support.
In an article on X, Ripple said that on-chain funds, bonds and repurchase agreements are already in use. The company also said these products can be settled more quickly and cost less than many traditional systems, and highlighted the UK’s well-developed capital markets and reliable regulatory system as reasons why the country could become a leading market for tokenized wholesale funding.
Regulatory momentum and the American angle
The working group’s alignment is important for market positioning in general: if UK and US tokenization standards converge and cross-border repo and collateral settlement become primary use cases, then the existing institutional infrastructure for cross-border payments could become more directly applicable. This is the strategic logic of Ripple’s presence on the task force: early influence on a market that could evolve significantly by the middle of the decade.
Industry comments on the working group’s priorities and deadlines remain open until September 4.
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SEC Lawsuit Background and XRP Price Setup
Separately, Ripple disclosed new details about the pressure it faced following the SEC’s lawsuit filed in December 2020. CEO Brad Garlinghouse confirmed that company executives discussed shutting down Ripple within days of the filing, including the possibility of shutting down the company, distributing its XRP holdings to shareholders based on their ownership, and informing the SEC that the company named in the lawsuit no longer existed.
CTO David Schwartz later confirmed that outside lawyers had told company executives that the company could not be saved, and said the advice at the time was for executives to enter into a deal to protect themselves. Garlinghouse later revealed that Ripple spent around $150 million on legal fees during the four-year court battle.
Schwartz then clarified that some reports had misunderstood his comments, emphasizing that he never intended to suggest that Ripple was on the verge of going out of business, a distinction that makes sense given how the narrative has circulated. The disclosures are retrospective at this point, but they frame the legal risk premium that weighed on XRP prices from 2020 until the case was resolved.
On the price side, XRP is holding above the $1.04 to $1.11 support band. The recent rally phase and subsequent pullback have formed three-wave structures, which are not yet a confirmed uptrend.
A sustained hold above support opens the way to $1.19 then $1.25; a break below the zone would reinforce the broader downtrend. XRP is up 3.89% year-to-date in 2026, extending a streak of positive annual returns: 47.6% in 2023, 31.2% in 2024, and 35% in 2025.
The UK task force’s announcement adds a concrete regulatory and institutional data point to Ripple’s positioning, but it does not change XRP techniques in the short term. The longer-lasting question is whether Ripple’s early presence in a government-backed tokenization program – alongside institutions that collectively manage billions in assets – will translate into protocol-level adoption when the spring 2027 pilot goes live.
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