Wednesday, June 19, 2024
HomeCryptocurrencyEarly XRP Adopter Says "I don't buy the Ripple narrative anymore". Here's...

Early XRP Adopter Says “I don’t buy the Ripple narrative anymore”. Here’s why

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.

Read Also: Ripple Faces Possible $3 Billion Fine, As XRP Lawsuit Takes New Turn: Details

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.

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.

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.”

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.


Follow us on Twitter, Facebook, Telegram, and Google News

Adedoyin Aka
Adedoyin Aka
Adedoyin is a graduate of Law and a Crypto & Blockchain expert who strongly believes that Blockchain is the future. At TimesTabloid, she focuses on crypto and blockchain educational content.
RELATED ARTICLES

Latest News & Articles