It is evident a lot of people are still confused about Ripple and its XRP asset. Many people believe Ripple doesn’t need XRP to succeed. One XRPchat user even claims how the company is pivoting away from using their native asset altogether. This degree of misinformation goes to show people can’t be bothered to do their own research. Luckily, these claims were discredited rather quickly.
There are quite a few aspects about Ripple very few people seem to understand. Ripple has made a lot of progress when it comes to bringing DLT to the banking sector. Although there is still a long way to go, things are evolving in the right direction. However, the company’s success is entwined with how XRP will evolve. While it is true banks could use the Ripple Consensus Ledger without XRP, doing so would not be the best idea. The company is doubling down on making XRP succeed, that much is evident.
Ripple and XRP Are Entwined
More specifically claiming how Ripple pivots away from XRP is an utter lie. The company has done everything they can to highlight the benefits associated with this native asset. In fact, one could argue the token is now the center of marketing efforts for Ripple. That is a welcome change, although these changes always need to be introduced gradually. The recent XRP price surge is a direct result of what the company is doing, rather than just market speculation.
Furthermore, it is important to keep in mind how Ripple operates. The company still holds 60 billion XRP, most of which will be locked in escrow later this year. That means the circulating supply is a lot smaller than people realize. Over 38 billion is a big number, but it is not that large when considering what this company is trying to achieve. The value of XRP is what most people focus on, and it is doing just fine for the time being.
The team feels confident banks will eventually gravitate to instantaneous global settlement. Achieving that goal without a blockchain and native asset will be very challenging. Right now, Ripple and its XRP asset are in the best position to make this happen. That success will hinge on making both the technology and the asset succeed. Traders and speculators tend to forget XRP is not an asset to flip every single day. It is a long-term investment, to say the least.
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