The winning and losing hand behind Ripple's billion dollar market value: selling coins for a living, payments, ETFs, and political trends Ripple, which was once controversial for its high centralization and reliance on selling coins for a living, and even referred to as a "zombie project" by Forbes, is now making a strong comeback with the help of multiple trends. Payment business is its fundamental business, and Ripple has continued to promote global cross-border settlement this year. It has partnered with Chipper Cash, Unic â mbio, SBI, and has obtained a total of 55 remittance licenses worldwide. The self-developed stablecoin RLUSD has a market value exceeding 290 million US dollars and has been integrated into the payment system. Recently, it spent $1.25 billion to acquire Hidden Road, further expanding its RWA layout. Ripple is also entering the custody and wallet business, exploring a second growth curve beyond payments. At the same time, Ripple has won a four-year lawsuit with the SEC, restarted its expansion in the United States, and its CEO has repeatedly attended private dinners related to Trump, seen as a representative of "political empowerment". At the beginning of this year, Trump publicly mentioned XRP, followed by a surge in Ripple related transactions, and XRP was included in strategic reserves. The positive news for ETFs is also continuing to ferment, with related products being launched in multiple countries. The CEO revealed that the US version of XRP spot ETF may be launched in the second half of 2025. The coin price once broke through a multi-year high, and its market value remained stable in the top five of the industry. But the Ripple token model is still being questioned, with a large amount of XRP still held by companies and founders, and selling tokens remains the main source of revenue. Nevertheless, Ripple is attempting to transform from a company that "survives by selling coins" to a "new financial network" that holds payment infrastructure and policy influence.