XRP Faces Harsh Criticism as Gary Cardone Draws Controversial Comparison

XRP has recently come under intense scrutiny following controversial remarks by Gary Cardone, a seasoned financial expert and the twin brother of well-known entrepreneur Grant Cardone. His statements sparked a wave of discussion across the crypto community, particularly concerning Ripple’s involvement in central bank digital currency (CBDC) initiatives.

Cardone’s primary criticism centers on recent claims that the European Central Bank (ECB) may utilize the XRP Ledger in partnership with WhiteNetwork to build the digital euro. While some view this potential collaboration as a major step forward for XRP’s mainstream adoption, not everyone is celebrating. Critics, including Cardone, voice concern over what they see as the centralization and increased governmental control that come hand-in-hand with CBDCs.

He argues that partnerships involving central banks carry severe implications for financial freedom, positioning technologies like XRP as tools that might enable authoritarian-style controls. In his words, the team behind XRP is seemingly willing to align with those he described as the “most oppressive people on planet Earth,” targeting ECB President Christine Lagarde with especially sharp criticism.

Cardone went as far as comparing XRP to the COVID-19 pandemic, asserting that its potential role in supporting CBDCs could have distressing consequences for personal liberties. This extreme analogy underscored his belief that the adoption of CBDCs could lead to the erosion of individual control over personal finances, echoing a broader concern shared by many in the decentralized finance space.

This comparison emerged in a social media post where Cardone insinuated that the goal of such partnerships is to establish tighter governmental oversight, even suggesting an atmosphere akin to martial law. His controversial description of Europe as a “Prison Continent” sparked backlash and debate, highlighting the divisive nature of the ongoing discourse around CBDCs.

Interestingly, Gary Cardone wasn’t always a harsh critic of XRP. In fact, he previously held a substantial investment in the token. However, in February 2025, he revealed via a post on X (formerly Twitter) that he had liquidated his entire XRP holdings, totaling over $81,000. At that time, he sold his position at a price of $2.71 per token. Notably, this was significantly above XRP’s current valuation of $2.28, marking a timely exit from his investment.

Explaining his decision, Cardone referenced six core investment principles developed from over four decades in finance. He hinted that XRP no longer aligned with these guidelines, prompting his choice to pull out of the asset entirely. Although he expressed some optimism toward XRP enthusiasts, affectionately known as the “XRP army,” he conveyed doubt about the token’s long-term potential under its current strategy.

Through his criticisms and financial decisions, Gary Cardone has positioned himself as one of the more vocal skeptics of Ripple’s direction — especially concerning its involvement in systems that could centralize financial authority. His perspective contributes to an ongoing conversation about whether digital assets should support centralized solutions or remain anchored in the ethos of decentralization.

While Ripple continues to explore use cases that bridge traditional finance with blockchain innovation, the debate around CBDCs and financial sovereignty remains a flashpoint. As Ripple and XRP evolve, how they navigate these partnerships could shape the broader narrative around digital currencies and user empowerment.

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June 9, 2025

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