So.... I have read Coindesk's article.... It paints a rather bleak picture of Ripple and XRP, suggesting Ripple is scrambling for relevance with its new stablecoin venture. But let's dive into the claims and add some much-needed context: 1. "Ripple has struggled to win real enterprise customers": While the article emphasizes Ripple's supposed struggles, it's essential to remember that Ripple has formed partnerships with over 300 financial institutions globally. This includes big names like Santander and American Express. Doesn't exactly scream "struggle" to me. 🤔 2. Dwindling usefulness of XRP: The narrative suggests XRP's relevance is fading fast. However, XRP remains a top cryptocurrency by market capitalization and is utilized in international transactions and liquidity management by several financial entities. Its use case in RippleNet's On-Demand Liquidity service highlights its ongoing utility, not its demise. 3. Stablecoin as a desperation move: Describing the launch of a stablecoin as a last-ditch effort seems unfair. Many major crypto projects are exploring or have launched stablecoins as part of their ecosystem expansion. It's not a sign of failure but adaptation and growth in the fast-evolving crypto space. P.S. is PayPal desperate, too? 4. Legal troubles with the SEC: Yes, Ripple is in a legal tangle with the SEC, but it's far from the only crypto company to face regulatory scrutiny. Moreover, the outcome of this legal battle could set a precedent for the industry, indicating Ripple's pivotal role in shaping the future of crypto regulation. 5. Partnership fallouts: Mentioning fallen-through partnerships without context might seem damning. Yet, in the rapidly changing world of fintech and crypto, shifts in partnerships are common as companies pivot and markets evolve. Plus, many partnerships are exploratory and not all are expected to last forever. 6. Ripple's financial services rarely used: The claim that Ripple's services are not widely used needs a closer look. RippleNet and its On-Demand Liquidity service have been adopted by numerous financial institutions for faster, more cost-effective cross-border payments. This contradicts the narrative of underutilization. The article might want you to think Ripple is in trouble, but if you really look at what's happening, Ripple is more like navigating a complex maze than teetering on the edge. Sure, there are challenges, but which innovator doesn’t face them? Ripple’s still pushing forward, finding new paths and opportunities. It’s not about whether they’re stumbling; it’s about how they keep moving ahead What worries me a lot is Coindesk's saliency over Ripple, especially when Ripple has been fighting for the entire crypto industry for three years. They are fighting for what Coindesk makes money on. I wonder if we will ever see the end of this stupid tribalism and realise that we on the blockchain are all fighting together against the old legacy systems that are so reluctant to run anything.
@Kirjakulov Yeah, did @CoinDesk forget about how ripple spent 100 million $ fighting for the entire industry and got the ruling they never believed possible ? The market as a whole would be healthier if they stopped trying to bash Ripple and fud the xrpl.
@Kirjakulov I appreciate what you created deeply Would love to have you on my channel
@Kirjakulov Coindesk is the Jim Cramer of so called 'news'
@Kirjakulov The article is embarrassing for @CoinDesk and is so transparently bias. I'd hope in 2024 these kinds of hit pieces would have stopped but I guess there are still a few diehard maxis left at Coindesk.