Discussions in the world of crypto money never end. However, this time the claim that shook the agenda is quite heavy: XRP was claimed to be ı the biggest financial fraud in history ”. This interpretation, which has aroused a great impact on social media, divided investors into two. Is the XRP such a problematic project really, or are these criticisms completely irrelevant?
Hard accusation came with DEX data
The person who made the claim was the crypto analyst Aylo. In his share on March 21st, he said the volume of XRP Ledger (XRPL) 24 -hour decentralized stock market (Dex) was only $ 44,000. Aylo said that this figure is embarrassing compared to the $ 140 billion market value of XRP. According to him, this difference clearly demonstrates that the project does not produce a real value.
After this sharing, the XRP community was rapidly divided into two. While some users support Aylo’s views, many investors and analysts argued that this interpretation was superficial and wrong.
XRP CTO is not silent
The allegations also reached the Ripple front in a short time. David Schwartz, CTO of the company, made a direct statement on the issue. Aylo said that the screenshot only covers automatic market makers (AMM). In other words, this data represented only a small part of the XRPL, not the general volume of the XRPL.
At the same time, the VET, an approved verifier at XRPL, shared its own data. According to him, the real daily transaction volume in XRPL was around $ 9 million. Even this difference showed that the claim was hasty.
XRP is not defi, payment system
The fact that XRP has a low dex volume does not make it dysfunctional. Because XRP focuses not on defi applications, but to fast and low -cost boundary payments. Therefore, it may be misleading to apply the measurement criteria suitable for Defi to XRP. For example, metrics such as TVL (total value of locked) do not reflect the actual purpose of XRP.
In addition, the XRP is currently on the third row of rising in terms of market value by passing Tether. It has reached a volume of $ 2.5 billion in the last 24 hours. This proves that the investor’s interest is still very strong.
XRP has always been the focus of the discussions. However, it would be an extremely unfair approach both in terms of technical and community. The truth is that the XRP still looks strong and is gaining more corporate support every day.
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