In today’s XRP news, Ripple Labs has officially backed the UK Treasury’s Wholesale Digital Markets Task Force, positioning itself in UK efforts to build what the company says could add £33 billion to the UK economy each year by 2035.
The announcement came alongside new revelations from Ripple’s management team about how the company nearly went out of business 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 fell almost 1% overnight, currently trading at $1.07 and continuing to struggle to break through resistance at $1.10. Daily trading volume is $955 million, down -5% from yesterday.
UK Treasury names Ripple as convergence model for wholesale tokenization
12 month plan: moving tokenized pensions, gilts and live funds
Quoted: Ripple’s $1.25 billion purchase of Hidden Road + Santander’s cross-border rails in the UKImpact: GDP increase of £33 billion/year, tax gain of £14 billion/year
The United Kingdom is now ahead of the United States, where… pic.twitter.com/wHBwTCSYmv– 𝗕𝗮𝗻𝗸XRP (@BankXRP) July 13, 2026
UK Treasury names Ripple as convergence model for wholesale tokenizationXRP News Today: What the Working Group is Really Trying to Do
Ripple’s support is not a token endorsement. In an article on Ripple said these financial products can settle faster, cost less, and work better than many traditional systems.
The company identified the UK as a strong candidate to lead tokenized wholesale finance globally, highlighting its established capital markets and reliable regulatory system as structural advantages.
The annual economic estimate of £33 billion is the figure cited by Ripple in welcoming the government’s tokenization strategy and confirming its role in supporting the task force.
Wholesale tokenization, the process of introducing 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 company is directly targeting the regulated financial markets modernization agenda, well beyond its established payments positioning.
Onchain funds, bonds and pensions are not experiments. They are already happening, providing on-chain financial instruments that are cheaper, better and faster than their existing counterparts.
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 CEO Brad Garlinghouse revealed that company executives discussed shutting down Ripple just days after the SEC filed its complaint in December 2020.
One option considered was to shut down the company entirely, distribute XRP holdings proportionately to shareholders, and notify the SEC that the entity named in the suit no longer existed.
Garlinghouse said fighting the case seemed daunting because the government had far greater resources. The company ultimately chose to continue operations, largely to avoid leaving hundreds of employees jobless.
Chief Technology Officer David Schwartz confirmed that an outside legal advisor told company management that the company could not be saved and advised executives to strike a deal to protect themselves. Schwartz later clarified that his comments were misinterpreted and that he never intended to suggest that a shutdown was imminent.
Garlinghouse also revealed that Ripple spent around $150 million on legal fees during the four-year court battle. This history gives the British task force’s announcement additional weight; a company that was dissolved days after the SEC lawsuit now sits at the negotiating 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 towards the near-term downside target after losing ascending trendline support.
For now, lower levels seem likely as long as $1.08 remains resistance.This short setup looks interesting here, and the current structure favors sellers while price remains… pic.twitter.com/Fy9N9NVATm
– Cryptorphic (@Cryptorphic1) July 14, 2026
XRP is still trading in a tight range after recent price swings and a positive XRP news trend. Market analyst More Crypto Online noted that the most recent price rally and subsequent pullback formed three-wave structures, a trend that on its own does not confirm a strong uptrend.
The analyst identified the support zone between $1.04 and $1.11 as the key level to watch, with a sustained hold there paving the way to $1.19 and then $1.25. A close below this band would signal further weakness in the broader downtrend.
Longer-term performance provides context: This shows that the digital asset has continued to post annual gains despite periods of price weakness.
Participation in the UK working group gives Ripple a concrete regulatory foothold in one of the world’s largest financial centers, at a time when tokenized wholesale markets are moving from strategic documents to operational pilots.
Whether this translates into price momentum depends on how quickly the working group converts its mandate into actual market infrastructure and how clearly Ripple’s role within that infrastructure becomes visible to the market.
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The post Ripple supports UK tokenization push: Did Brad Garlinghouse just save XRP? appeared first on 99Bitcoins.
