Hoskinson Apologizes to XRP Community – Cardano Eyes Partnership with XRP Ecosystem

• Charles Hoskinson apologized to the XRP community, aiming to resolve his long-standing dispute with Ripple.

• He proposed two collaboration opportunities, including integrating Cardano’s Midnight sidechain.

Cardano founder Charles Hoskinson has apologized to the XRP community, signaling a shift in his stance toward Ripple and its supporters.  In the recent YouTube livestream, Hoskinson made a formal apology, saying, “I want to apologize to the XRP community.” This is the first time since his exchange with Ripple that he has shown an interest in working together, which is a positive development.

Charles apologizing to the XRP Community + wants to participate in #RLUSD

Good stuff Charles. pic.twitter.com/0k4qTZyW3D

— Vet (@Vet_X0) November 10, 2024

A Path Toward Collaboration with Ripple

According to Hoskinson, there is a need to foster a connection between Cardano and the XRP community. He pointed out that his strategy is in line with Cardano’s previous collaborations with the Bitcoin environment. He said that there are two clear areas where Cardano can cooperate with Ripple.

The first opportunity is the integration of Cardano’s privacy-focused sidechain, Midnight, with the Ripple ecosystem. Midnight, which focuses on the harmonization of privacy with compliance, deployed its testnet in the last month. If this integration is to go through, then it could be a blessing to both ecosystems.

The second partnership is with Ripple’s next stablecoin, Ripple USD (RLUSD). Hoskinson also stated the company’s intention to engage in the project, and RLUSD may be hosted on the Cardano blockchain when it launches. The stablecoin is still in its beta phase and is integrated with the Ethereum and XRP Ledger (XRPL). Up to the last month, RLUSD had a total supply of $47.4 million, out of which $34.8 million was on the XRPL and $12.6 million was on Ethereum.

The Feud and Its Resolution

The relationship between Hoskinson and the XRP community has not been without tension in the past, mainly due to conspiracy theories. The allegations that Ethereum’s founding team had persuaded the U.S. Securities and Exchange Commission (SEC) to target Ripple was another major cause of the disagreement.

 Hoskinson, who co-founded Ethereum, has always dismissed such allegations and has accused the XRP team of not informing the community about such narratives. Nevertheless, Hoskinson’s recent apology is to be regarded as a settlement of the conflict. Earlier in May, he had been reluctant to offer an apology, accusing some people in the XRP community of misquoting him. He also complained of being bullied and labeled as corrupt, but with his recent statements, he appears to have let go of such concerns and is looking forward to a partnership. 

Cardano’s ADA rose sharply to $0.58 on November 10, its highest point in five months, rising by 105% in just one week. In the past week, ADA has appreciated by 78%, while in the last 30 days, it has gained 66.87%. Currently, it is trading at $0.5941.  Meanwhile, XRP’s price has increased by 14% in the past week and 8.60% in the last 30 days. As of this writing, it is trading at $0.5871. According to on-chain data, retail traders are driving the current ADA rally. The expectation of improved cryptocurrency legislation under a future Trump administration has increased the demand.