XRP Treasury Strategy: Could Ripple Transform by 2026?

XRP treasury strategy discussions are gaining momentum as Bitwise CEO Hunter Horsley recently speculated on Ripple’s potential transformation into a treasury-focused company. This thought-provoking possibility sheds light on Ripple’s substantial XRP holdings and their future utility.

In a post on X, Horsley hinted that within the next year, Ripple might be viewed more as a company managing XRP reserves than merely a blockchain-based payments provider. He pondered whether observers might soon describe Ripple as an XRP treasury firm — a subtle but significant shift in identity.

This speculation comes amidst a broader conversation about the evolving role of XRP on corporate balance sheets. Ripple, long known for developing cross-border payment solutions, might now be seen in a new light — influenced by recent moves in the financial space to back XRP-based assets.

Ripple’s XRP Holdings and the Treasury Debate

Ripple currently holds roughly 41% of the total XRP supply — equivalent to about 40.92 billion tokens, a position that places it in a unique strategic position within the crypto ecosystem. This stash is valued at around $94 billion, though the majority is held in escrow to manage liquidity.

The debate revolves around whether this massive reserve serves a purpose beyond liquidity. Could Ripple already be operating like a treasury firm without explicitly announcing it? Observers stress the similarity to MicroStrategy’s Bitcoin-focused strategy, where the company holds vast BTC reserves as part of its long-term capital play.

Cryptocurrency supporters like Edoardo Farina remain optimistic about Ripple’s direction. Some even venture theories that Ripple’s escrow holdings are subtly reserved for institutions like the IMF — a claim currently unverified but frequently discussed in XRP communities.

Rising Institutional Interest in XRP Assets

Underpinning the speculation are real developments in the market. Institutional players such as Webus and Trident Digital plan to raise close to $1 billion to create XRP-focused treasuries. These moves suggest that XRP is increasingly being recognized as more than just a medium for cross-border payments.

Not only does this enable new investment avenues, but it also encourages conversation around the strategic holding of XRP — effectively creating a parallel between XRP-backed balance sheets and traditional treasury strategies utilized by companies like MicroStrategy.

Community and Critics Weigh In

Not everyone agrees on the path Ripple should take. Critics such as Gary Cardone question why Ripple hasn’t explicitly adopted a treasury model, especially if it truly believes in XRP’s long-term valuation potential. The irony, some say, is that detractors often claim Ripple already owns too much XRP, yet they are the same voices urging Ripple to acquire more and formalize a reserve strategy.

Adding a lighter spin, X user Ojo Oluwani joked that Ripple transitioning into an XRP treasury company would be “the ultimate plot twist,” especially after years of strong messaging that Ripple and XRP are separate entities. According to Oluwani’s tweet, the company may already be acting as a de facto treasury — just without the official label.

These divergent views, both skeptical and supportive, highlight the nuance in Ripple’s position. Whether the company decides to formally embrace a treasury narrative or stick with its current messaging, the existing XRP reserves provide it with considerable leverage in shaping the narrative and direction of crypto treasury management going forward.

Could Ripple Follow in MicroStrategy’s Footsteps?

The possibility that Ripple could become the MicroStrategy of the XRP ecosystem is garnering interest. The primary difference lies in Ripple’s existing XRP pool versus MicroStrategy’s deliberate acquisition strategy. If Ripple were to intentionally pivot and craft policies that publicly frame those holdings as treasury assets, the implications for both the company’s identity and XRP’s market dynamics could be profound.

Related: XRP Price: $12M Max Pain for Bears

In the coming months, how Ripple communicates its intent and manages its XRP could signal whether it leans further into becoming a treasury-focused entity. With growing institutional activity centered around XRP, and increasing scrutiny over Ripple’s reserves, this possibility is more relevant than ever.