XRP Stays Relevant as Bitcoin ETFs Reshape the Crypto Market, Says Mike Novogratz

XRP has maintained a visible and resilient position in the cryptocurrency market largely because of its highly committed community, according to Mike Novogratz, founder and CEO of Galaxy Digital. While institutional capital increasingly flows into Bitcoin exchange-traded funds (ETFs), Novogratz argues that community-driven assets like XRP continue to survive through belief, engagement, and long-term loyalty rather than yield or institutional demand.

In a recent podcast interview, Novogratz compared XRP to other long-standing crypto networks that have endured multiple market cycles. He emphasized that XRP’s resilience is rooted in the so-called “XRP Army,” a supporter base that has remained intact even as new tokens, platforms, and tokenized assets compete for attention. Maintaining such a dedicated community has become more challenging in an increasingly crowded digital asset landscape, yet XRP continues to benefit from consistent grassroots support.

At the same time, Bitcoin and spot Bitcoin ETFs dominate institutional focus. Novogratz explained that ETFs have become a major force in crypto pricing, continuing to absorb Bitcoin supply even during periods of volatility and weak market sentiment. Despite Bitcoin’s inability to hold above the $100,000 level, which he described as a key resistance zone shaped by earlier heavy buying, ETF demand has not faded. He cited examples where large holders sold into the market, yet ETF inflows, including those into BlackRock’s spot Bitcoin ETF, continued to offset the added supply.

Novogratz rejected the idea that Bitcoin has already reached a final market peak, stating that ETFs are still in the early stages of their influence. He also highlighted a clear distinction between Bitcoin and other crypto assets, noting that Bitcoin increasingly functions as money, while most tokens face greater pressure to justify their relevance.

Community strength, he said, is critical for non-Bitcoin assets. Networks without loyal users risk fading as capital becomes more selective. He also warned that broader macro risks, such as a sharp downturn in U.S. equities or economic disruptions from artificial intelligence-driven job losses, could weigh on crypto markets, which still move closely with overall risk sentiment.