21Shares Rejects Ripple's Control Over XRP Ledger

21Shares conducted an assessment against the centralization claims of XRP. The company argued that Ripple does not control XRP and the XRP Ledger. 21Shares stated that XRP has been misunderstood for 13 years, expressing that Ripple's role in the network is often confused with control power. Ripple operates only one of the approximately 35 validators listed as reliable validators on the XRP Ledger. There are over 150 validators in the network, and at least 80% support is required for protocol changes. 21Shares emphasized that Ripple's influence on the network is not the same as its control over the transaction validation process. Although Ripple played a significant role in the creation of the XRP Ledger, it has reduced its validator presence over the years. 21Shares launched the 21Shares XRP ETP product AXRP in Europe in 2019. Additionally, it plans to launch the 21Shares XRP ETF product with the code TOXR in the US in December 2025. 21Shares also published XRP price scenarios for 2026; in the base scenario, it predicts $2.45, in the optimistic scenario $2.69, and in the pessimistic scenario $1.60. According to CoinGecko data, XRP is currently trading at $1.42.

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