Soaring Sales Can’t Save XRP as Ripple Struggles with Asian Adoption

2023-4-20 19:15

Forbes has criticized Ripple’s business model and adoption, claiming that it focuses on selling more XRP than it purchases.

Forbes questioned the adoption and growth of Ripple, a crypto company known to flaunt its payment infrastructure and growing customer base. 

Martin Walker, the director of banking and finance at the Center for Evidence Based Management, told Forbes:

Ripple continues putting huge efforts into promoting the story they are improving remittances and cross border payments but whenever information about the reality comes out, is it’s all about selling XRP.” 

Ripple Selling XRP Through Tranglo?

The author of the article, John Hyatt, used the Malaysian payment company Tranglo as an example to prove his narrative. Tranglo is one of the largest clients that utilizes Ripple’s On-Demand Liquidity (ODL) product.

Through ODL, Ripple provides its clients with XRP to facilitate instant cross-border transactions. Clients can pay back XRP’s worth to Ripple in cash.

The news site alleges that Ripple is indirectly using ODL to dump the coin in the open market. 

Massively Profitable Business

Tranglo is a key client of Ripple, but the latter has a 40% ownership stake in the former. Also, according to the Malaysian company’s filings, just 8% of its customers choose to settle payments with XRP.

Furthermore, Global E-Money Alliance, a financial services-related company in Hong Kong, is responsible for 73% of Tranglo’s XRP-related revenue.

Interestingly, Global E-Money Alliance’s chairman, Alex Kong, is a board member at Tranglo. This raises the question if Ripple utilizes ODL to dump its bag of XRP.

Former Ripple employees told the news site that the company is “probably not” profitable in its software business. But, “they’re massively profitable” in terms of selling XRP.

Ripple as Created to Distribute XRP: CTO

Lastly, Ripple’s Chief Technology Officer (CTO) David Schwartz clarified, “At least in my view, Ripple was created to distribute XRP as broadly as possible and, with luck and if necessary, be able to generate enough revenue from sales (or things like sales) of XRP to sustain its operations.”

However, the community questioned the CTO, “What do you feel would be greater in value for Ripple: selling its service to institutions, or selling XRP purely and in general?”

Got something to say about Ripple or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or Twitter.


For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

The post Soaring Sales Can’t Save XRP as Ripple Struggles with Asian Adoption appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5198 (-0.22%)
Объем 24H $1.099b
Изменеия 24h: 1.26 %, 7d: -2.59 %
Cегодня L: $0.5198 - H: $0.522
Капитализация $28.825b Rank 7
Цена в час новости $ 0.4704 (10.5%)

ripple xrp adoption save soaring asian sales

Источник: beincrypto.com

ripple xrp → Результатов: 126


Ripple собирается запустить DeFi-протокол

Ripple (XRP) продолжает совершенствовать XRP Ledger (XRPL). Теперь проект хочет привнести в экосистему децентрализованные финансы (DeFi). Разработчики Ripple представили предложение, направленное на создание в XRP Ledger экосистемы DeFi.

2024-4-15 16:04


Ripple запускает долларовый стейблкоин в качестве конкурента USDT и USDC

Эмитент XRP Ripple объявил о планах по запуску стейблкоина, обеспеченного долларами США, и надеется в течение ближайших лет отвоевать значительную долю рынка у Circle и Tether. Технический директор Ripple Дэвид Шварц (David Schwartz) сообщил, что первоначально стейблкоин будет выпущен в блокчейнах XRP и Ethereum.

2024-4-5 18:49


Фото:

Издание Forbes назвало блокчейн Ripple «зомби-сетью»

Журналисты издания Forbes усомнились в полезности экосистемы Ripple, в частности XRP Ledger (XRPL) и монеты XRP. Издание также назвало блокчейны Ripple, Cardano, Bitcoin Cash, Litecoin и Stellar «зомби-сетями».

2024-3-31 12:58


Ripple нарастила продажи XRP

В феврале компания Ripple продала 120 миллионов из зарезервированных для своей казны 200 миллионов XRP. Интересно в этом процессе то, что бездействующий два года адрес кошелька, который контролирует компания и который помечен XRP Scan как «Ripple (52)», отправил 100 миллионов токенов на сумму $53,5 миллиона на адрес «Ripple (1)».

2024-2-15 12:02


Ripple (XRP) Needs to Exhibit These Three Moves to Go Parabolic: Analyst

Analysts JD and Cryptotoes share crucial insights about Ripple (XRP), providing a glimpse into the potential for a parabolic move. JD lays out three key factors that could pave the way for a parabolic move in Ripple XRP: JD tantalizingly mentions that once these conditions align, smart money—representing 5% of investors—might seize the opportunity for […] The post Ripple (XRP) Needs to Exhibit These Three Moves to Go Parabolic: Analyst appeared first on CaptainAltcoin.

2023-11-28 20:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ripple CEO sees crypto market hitting $5T by year-end: here are the top 3 picks

Ripple CEO is claiming the crypto market could reach $5 trillion by the end of 2024. Investors are looking for better opportunities to invest and gain lucrative profits if that happens. According to some analysts, Solana (SOL), Sui (SUI), and Borroe Finance ($ROE) could be some of the best altcoins to include in investment portfolios.

Ripple Halts IPO Plans Due to SEC Crypto Crackdown, XRP Price Lackluster 

Ripple has suspended its IPO plans due to ongoing legal issues with the US Securities and Exchange Commission. The company's CEO, Brad Garlinghouse, also criticised SEC chair Gary Gensler. The post Ripple Halts IPO Plans Due to SEC Crypto Crackdown, XRP Price Lackluster  appeared first on BeInCrypto.