Mike Novogratz Admits Doubts About XRP but Praises Its Strong Community

Galaxy Digital CEO Mike Novogratz recently reflected on his changing views of XRP during a discussion with podcaster Kyle Chasse. The well-known investor admitted that he initially believed Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) would wipe out the token. However, he now acknowledges XRP’s resilience, crediting Ripple CEO Brad Garlinghouse for navigating the lawsuits while keeping the community strong.

Novogratz emphasized that XRP’s passionate base has been key to its survival. Once dismissive of the token’s “cult-like” following, he now sees such loyalty as an essential part of crypto’s success. According to him, every major cryptocurrency that has thrived owes much of its growth to communities that resemble movements rather than just investors. Unlike traditional equities—where few stocks inspire such devotion beyond rare cases like Tesla—cryptocurrencies thrive on belief-driven ecosystems.

He explained that the roots of this phenomenon go back to the 2008 financial crisis, when trust in governments and banks eroded. Crypto communities emerged as a new form of trust, built around decentralization and shared conviction. This, Novogratz noted, is what separates digital assets from conventional investments.

Despite once questioning XRP’s decentralization, Novogratz has softened his stance. He admitted that XRP turned out to be one of the best-performing assets since late 2024, defying expectations. “Who would have ever guessed that?” he remarked, pointing out how the token continues to rally despite regulatory pressures.

Novogratz also highlighted that the XRP community never sees the asset as “too expensive,” a mindset unusual in traditional markets. With such commitment, he believes XRP has proven that community strength can outweigh skepticism—even from prominent voices like his own.

By combining strong leadership, legal perseverance, and unmatched community loyalty, XRP has transformed from a doubtful bet into one of the crypto market’s standout stories.