Critic Questions XRP’s Real-World Use Case: “Ripple Is Never Going to Win”

• XRP’s strategic partnerships and market positioning continue to drive perceived value despite questions about real-world adoption.
• RippleNet’s $7B in annual transactions underscores XRP’s utility in cross-border payments, even amid legal and market uncertainty.

Following a recent update on Ripple’s Legal Battle Nears End, a CNF update suggested that institutional sales of XRP could still be classified as securities offerings under certain conditions. Eric Yakes, author and Managing Partner at EpochVC, explains how Ripple’s marketing tactics, bank partnerships, and political lobbying have fueled its perceived value—despite lacking real adoption.

According to a video on YouTube by Byte Federal, Inc., The Truth About Crypto, Eric Yakes explained how Ripple’s strategic partnerships and market positioning have contributed to XRP’s perceived value, even though its real-world adoption remains questionable.

The team also explored Bitcoin’s growing institutional adoption, Michael Saylor’s bold CPAC statements, and insights from Eric’s 2024 Bitcoin Ecosystem Report.

While XRP faces critiques regarding its real-world applications, its robust market strategies, ongoing utility in cross-border payments, and recent price movements continue to fuel both debate and optimism among investors and analysts alike. As CNF addressed:

The potential dismissal of the SEC’s lawsuit against Ripple marks a pivotal moment for XRP and the cryptocurrency industry at large. A resolution could pave the way for increased institutional adoption and a more defined regulatory framework for digital assets.

Ripple’s XRP token has been a focal point of both enthusiasm and skepticism within the cryptocurrency community. A recent survey by Patrick Bet-David highlighted this divide, revealing that 43.8% of respondents view Ripple as having the best long-term technology, surpassing Bitcoin, which garnered 35% of the vote.

Eric has expressed reservations about XRP’s practical applications. He points out that despite Ripple’s establishment in 2012, there’s ongoing debate about its tangible use cases. Initially designed to facilitate remittance payments and function as a banking settlement system, Ripple’s focus has shifted toward developing a Central Bank Digital Currency (CBDC).

Ripple’s Market Strategies and Achievements and XRP’s Price Performance

Despite these critiques, Ripple has demonstrated a knack for strategic positioning. Through effective marketing and a significant pre-mine, Ripple has carved out a notable presence in the crypto space. Its payment network, RippleNet, currently processes approximately $7 billion in transactions annually, underscoring its utility in cross-border payments.

At the time of writing, XRP is trading at $2.33, reflecting a 2.53% decrease over the past 24 hours and a 6.46% increase over the past week. The token’s market capitalization stands at approximately $135.74 billion, with a 24-hour trading volume of around $4.07 billion.