In a recent post on X, Crypto Eri (@sentosumosaba), one of the top influencers backing XRP, voiced her skepticism about depending solely on Ripple’s efforts to drive up the price of XRP. She made it clear that she doesn’t see herself as an investor who is dependent on Ripple’s efforts to build up the price of XRP, stating that she never has and never will.

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She pointed out that this was mostly because Ripple’s marketing and sales activities only contribute a small amount to the overall trading volume of XRP.

Unlike DAI, I don’t rely on the efforts of Ripple to build up the price of XRP. Never have, never will. Especially with accounting for single digit impact on volume. It’s surprising after surviving the SEC attack, anyone would subscribe to this reliance. https://t.co/XG2bA6qsva

— Crypto Eri Carpe Diem (@sentosumosaba) September 4, 2023

This was said in response to a post from Digital Asset Investor (@digitalassetbuy) who quoted Ripple’s purported statements. He said the statements are solely why he trusts the project and still remains in the ecosystem.

Ripple’s Role in the Ascent of XRP

In his post, Digital Asset Investor.XRP shared his reasons for being an XRP investor. He cited some statements which were attributed to Ripple. Among these statements were claims that XRP could become a world reserve currency and Ripple could end up replacing SWIFT.

He also claimed that XRP could serve as a hedge against financial crises. All these claims were suggesting that Ripple could revolutionize the global financial landscape.

But Crypto Eri and other notable members of the XRP community have a different view on the issue. One such figure is Bill Morgan (@Belisarius2020), a lawyer and well-known supporter of XRP, who replied, “You expect profits from the efforts of Ripple.”

This is notable because Crypto Eri expressed her surprise at the fact that investors would stake their XRP investments on the efforts of Ripple after the multi-year legal battle with the SEC to establish XRP’s non-security status. She finished her post by saying, “It’s surprising after surviving the SEC attack, anyone would subscribe to this reliance.”

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XRP’s Value Depends on More Than Ripple

Expanding on her perspective, Crypto Eri added that Ripple is just one of hundreds, if not thousands of companies that would use XRP and the XRP Ledger (XRPL).

Bill Morgan added a reply, sharing a court document showing that Ripple agreed with Crypto Eri’s assertion. Ripple stated in that document that XRP’s value was dependent on retail speculation and the promise of what was being built on XRPL.

With this, experts in the field are advising caution when investing while relying solely on the efforts of Ripple to increase the value of XRP.

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The post Expert States Why Investors Shouldn’t Bank Solely on Ripple for XRP Price Growth appeared first on Times Tabloid.

Ripple currently has over 300 notable customers across the world. And the fact that many of these customers limit their activities to RippleNet has become a thing of concern within the XRP ecosystem.

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Many banks and financial institutions on Ripple’s network don’t desire to leverage the utility embedded in XRP, such as scalability, speed, and cost-efficiency, for a reason best known to them.

No Customers Will Desire To Stay With Ripple If They Are Pressured

In a conversation with Roshan Mirajkar shared by the popular XRP-centric YouTuber, CryptoEri, David Schwartz explained why Ripple chose not to impose XRP on its customers that are on RippleNet.

According to Ripple CTO, the firm will lose many viable customers if it adopts such a strategy. He, however, stated that the strategy adopted by the firm gives clients a vast array of choices.

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David Schwartz noted:

“We don’t want to pressure people to use the solution seen as the best solution for them. The question is “Why not pressure everybody on Ripplenet to use XRP?” We probably wouldn’t have any customers if we did that. Like you can’t tell your customers to use things that benefit you and don’t benefit them. The strategy I think has to be to give people a vast array of choices.”

Why not pressure everybody on Ripplenet to use XRP?

"We probably wouldn't have any customers if we did that."

Strategy: A vast array of choices.
David Schwartz CTO Ripple, August 16, 2021@Bitboy_Crypto pic.twitter.com/5cHzN7Raat

— CryptoEri 130k+ Followers (beware of imposters) (@sentosumosaba) August 28, 2021

Expectedly, the short video posted by CryptoEri garnered a lot of reactions and prompted a user to ask of an option that is currently better than using XRP, considering the use cases embedded in it.

Read Also: Ripple Announces New On-Demand Liquidity (ODL) In Japan

The user wrote, “Doesn’t make sense. How does using XRP not benefit the customer? What option is better than using XRP?”

In response to the user’s concern, CryptoEri said:

“XRP is designed to eliminate Nostro accounts where trillions are tied up in Correspondent Banking Model (you can more about this downside on BIS website). XRP acts as liquidity, reducing FX cost & friction moving fiat to fiat. The new loan option for FI’s is also a benefit.”

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The post David Schwartz on Why Ripple Chose Not To Pressure Customers on RippleNet to Use XRP appeared first on Times Tabloid.