A prominent cryptocurrency analyst has sparked renewed discussions about the real-world applications of XRP, raising questions about the sustainability of the XRP Ledger and the justification for holding the asset. This comes at a time when a new spot ETF has recorded unprecedented launch figures in the financial sector.
John Doe, leading research for a major investment firm, expressed his doubts on social media, positing a critical perspective towards XRP proponents. “To all XRP enthusiasts,” he remarked, “I may never grasp the true functionality of your ‘blockchain,’ but I commend the dedication it takes to advocate for it. Keep pushing forward!”
Rekindled XRP Utility Debate
This skeptical tone laid the groundwork for a deep dive into the discourse surrounding developer engagement and the valuation of the digital asset. Following up, he posed an engaging query: “Honest question: has any developer ever contemplated the idea of building… on XRP? I would appreciate any examples.”
Shortly after, he pointed out the silence from the community regarding his question with an update stating: “Still no responses.” This prompt is significant. In a realm where developer involvement and blockchain activity are often seen as key indicators of a project’s worth, it’s not just a critique but a call for substantiation that XRP serves as a viable foundation for innovation.
In response to a user highlighting the launch of a new tokenized fund on the XRP Ledger as proof of ecosystem vitality, Doe redirected the dialogue towards economic implications.
“Interesting move, but how does this translate to actual value for XRP holders? I’m unaware of any mechanisms for fee collection, revenue sharing, or economic benefit. Maybe I’m missing something crucial, but I will continue to investigate and adjust my perspectives!”
The discussion further highlighted the wealth amassed around the token and the controversies accompanying it. One user quipped that XRP had “supported a whole company [Ripple] on minimal grounds while generating several billionaires,” to which Doe retorted: “Like the one who funded the campaign to pressure Bitcoin to abandon its proof-of-work system? That’s quite a legacy.”
This comment references a significant figure in the XRP community who has funded various campaigns, intensifying the division between Bitcoin and XRP enthusiasts.
When another participant accused him of undermining XRP investment and critiqued Bitcoin as “pure speculation,” Doe contrasted the two assets regarding institutional acceptance and government collaboration.
He pointed out that “retail investors, university endowments, sovereign wealth funds, and now even a central bank” are engaging with Bitcoin. He noted that “12 nations actively mine Bitcoin with direct governmental assistance, leveraging synergy with their power grids,” while adding, “Feel free to invest in XRP; I’m not standing in your way.”
This discourse attracted attention from the Solana community, including its liaison, who previously had contentious interactions with XRP supporters but adopted a more conciliatory approach this time.
“XRP functions as a store of value like Bitcoin, characterized by lower fees steeped in over a decade of payment history. Instead of Satoshi, the XRP community is centered around a corporation, which happens to be adept at managing its affairs. The XRPL experiences less transactional use compared to smart contract platforms, but this is not vital to its valuation, just as Bitcoin has a limited transaction volume compared to smart contract networks, yet this too does not detract from its worth,” he underscored.
This unfolding narrative takes place against a vibrant market backdrop. Canary Capital’s recently launched spot ETF, XRPC, started trading on November 13 and achieved around $58 million in volume on its first day, including $26 million within the first hour—making it the largest ETF launch of 2025 so far, narrowly edging past the initial figures of another recent ETF focused on Solana. These two ETFs have set the standard for this year’s premier single-asset ETF launches, with the subsequent competitors trailing by over $20 million in their opening day performance.
As of the latest updates, XRP is trading at $2.27.
