A deep divide has emerged within the XRP community as Dizer Capital founder Yassin Mobarak delivers a critical analysis of Ripple’s management of the XRP ecosystem.
Mobarak’s comments, shared during a Twitter debate, have cast doubt on the future of the token and raised concerns about Ripple’s priorities.
Mobarak’s criticism stems from a heated discussion surrounding incentives for XRP Ledger (XRPL) node operators.
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The disagreement escalated after several validators left, prompting Mobarak to express his disappointment with Ripple’s “no incentive” approach. He argues that the lack of meaningful value creation within the ecosystem is contributing to this departure.
I no longer agree that "The best incentive is no incentive"#XRPL
— Yassin Mobarak 🪝 (@Dizer_YM) January 28, 2024
Ripple Accused of Mishandling XRP
Mobarak goes a step further, alleging that Ripple has mishandled XRP by failing to leverage the concept of programmable transfer of value and utilizing the XRP escrow account without providing tangible benefits to the network.
He labels Ripple’s actions as “sad and shameful,” suggesting that profit takes precedence over ecosystem development.
I've been involved in this ecosystem since the early days (2013). It's sad and shameful to see:
– how Ripple mishandled the incentives concept in XRPL.
– how they passed on the concept of programmable transfer of value before ETH even existed.
– how they continued to milk the…— Yassin Mobarak 🪝 (@Dizer_YM) January 28, 2024
In response to Yassin’s load of complaints, a supposed XRP community asked what has changed within the last few week that is causing the u-turn.
The early XRP adopter said, “I don’t buy the Ripple narrative anymore.”
I don't buy the Ripple narrative anymore.
— Yassin Mobarak 🪝 (@Dizer_YM) January 29, 2024
The appeal of grand predictions, especially those envisioning XRP at $10,000 on the back of cross-border payment supremacy, is now under scrutiny.
Mobarak stresses the importance of being realistic, suggesting that these aspirations may not come true unless Ripple actively fosters a strong and thriving ecosystem through strategic decision-making and proactive engagement.
However, not everyone shares Mobarak’s perspective. Supporters of XRP point to its continued usefulness in cross-border payments, growing adoption by businesses, and the promising development of the Evernode platform, a smart contract solution built on top of the XRP Ledger.
Read Also: Ripple CTO Explains Reasons Behind XRP and XLM Price Correlation
Diversification: A Key Takeaway
Crypto podcaster Tony Edward approaches the situation with caution, acknowledging his optimism about XRP while advising against becoming overly attached to any single token. He emphasizes the importance of diversification, particularly in the unpredictable realm of crypto.
Mobarak’s critique raises valid concerns about Ripple’s approach to the XRP ecosystem and the potential disconnect between corporate objectives and investor expectations. While the dream of a soaring XRP price may feel distant, the technology and potential use cases behind XRP remain promising.
To regain the community’s trust and secure a sustainable future for XRP, Ripple must address concerns about transparency, ecosystem development, and value creation.
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