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Comment on Ripple Scores Big: Key U.S. Licenses Boost XRP’s Future by Let's Be Honest
Let's Be Honest
Comments for Wall Street Pit
Why does these XRP maxis all ignore the fact that the SEC did rule XRP a security when sold to institutional customers, and is still appealing it's classification as a security deep into 2025.
XRP is by the most basic definition a security, it does not exist without the promotion and adoption requires by Ripple labs.
Ironically, XRP isn't even used by most of Ripple labs products, because no one wants to use a highly volatile crypto as a mediation currency for cross border payments when modern banking has fixed the issue XRP WAS ORIGINALLY designed to fix.
XRP is highly centralized, with 50% of its supply held and controlled by Ripple labs, and a staggering 20% held by Ripple insiders.
It's a meme coin that acts as a capital raising vehicle for Ripple labs, and what's worse has no use case beyond what Ripple labs promotes (making it the most worthless security known to man).