# Ripple almost shut down in 2020, XRP now on Kansas basketball jerseys

**Published:** 2026-07-14T21:38:30.195Z  
**Topic:** Ripple Xrp  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/0842e30b-fbc6-4d1b-956f-9c507124e361

Ripple CEO reveals 2020 near‑shutdown plan as XRP becomes first crypto on a major college jersey, a milestone for the token’s comeback.

Ripple’s chief executive Brad Garlinghouse told a University of Kansas audience that the firm once considered handing over every XRP it owned to shareholders to force the SEC case to die — and days later the token debuted on the Kansas Jayhawks’ uniforms, marking the first cryptocurrency ever stitched onto a major U.S. college jersey【1】.  

| At a glance | |
|---|---|
| Catalyst | Kansas Jayhawks sign five‑year jersey‑patch deal |
| Milestone | First crypto logo on a Division I uniform |
| 2023 price move | XRP spiked ~96% after a court ruled it not a security |
| 2025 settlement | Ripple paid $50 million of a $125 million penalty |

## Near‑shutdown and the legal battle  
In December 2020 the SEC sued Ripple, alleging the sale of XRP was an unregistered securities offering. Major U.S. exchanges delisted the token and its price collapsed, prompting Garlinghouse to say the company “almost decided to shut down” and had even weighed a plan to distribute all its XRP to shareholders so the regulator would have nothing left to sue over【1】. The pressure was intense: CTO David Schwartz recalled lawyers telling leadership the firm was “done and unsavable”【1】. Ripple ultimately fought the case, spending roughly $150 million over four years and eventually seeing a 2023 ruling that XRP on its own is not a security, which briefly drove the token up 96% before it settled lower【2】. By 2025 the SEC dropped its appeal and Ripple settled, paying about $50 million of the $125 million penalty that a court had ordered, far below the $2 billion initially sought【2】.

## From courtroom to court side  
The legal clarity cleared the way for institutions to consider XRP again, and the token’s profile rose steadily. This week the Kansas Jayhawks announced a five‑year agreement to display an XRP patch on their uniforms, the first instance of a cryptocurrency appearing on a major college team’s jersey【1】. The deal was possible after the NCAA allowed Division I programs to wear corporate logos for the first time, and Kansas was among the earliest adopters【1】. The partnership links directly to Garlinghouse’s alma mater, underscoring how the token has moved from “toxic” to a brand‑friendly asset in just five years.

## What to watch  
- **Price level**: Monitor XRP around the $0.50‑$0.55 range, where recent post‑settlement trading has found support.  
- **Regulatory milestones**: The Federal Reserve’s decision on a master account for Ripple, expected late 2026, could affect XRP’s utility as a bridge asset.  
- **On‑chain activity**: Large‑wallet movements of XRP ahead of the next quarterly earnings report may signal market sentiment toward the new jersey exposure.  

The Kansas jersey patch signals a symbolic shift: a token once considered a legal liability is now a visible sponsor for a major sports program, suggesting broader acceptance even as Ripple’s broader ambitions—such as a Fed master account—remain under scrutiny.

## Sources
1. 24/7 Wall St. — [Ripple Almost Shut Down in 2020, Now XRP Makes History on a Jersey Patch](https://247wallst.com/investing/cryptocurrency/2026/07/12/ripple-almost-shut-down-in-2020-now-xrp-makes-history-on-a-jersey-patch/)
2. Newsbreak — [Ripple Almost Shut Down in 2020, Now XRP Makes History on a Jersey Patch](https://www.newsbreak.com/nl/general-politics-immigration-1DEg5kTZ)

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Cite as: TrendWatcher, "Ripple almost shut down in 2020, XRP now on Kansas basketball jerseys", https://www.trendwatcher.in/article/0842e30b-fbc6-4d1b-956f-9c507124e361