DeFi

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Jake Claver, a business leader and performance expert, recently <a href="https://x.com/i/bookmarks?post_id=1833931083022565456" rel="noopener noreferrer nofollow">noted</a> that Ripple is not actually reliant on individual blockchain adoption.&nbsp;
This sets it apart from other blockchain projects whose success directly depends on the strength of retail adoption.&nbsp;
According to Claver, the San Francisco-based company does not prioritize retail-focused use cases. Instead, it focuses on enterprise and government-level solutions that constitute the company's value proposition.&nbsp;
"While retail investors can hold XRP and use the XRP Ledger, Ripple’s primary aim is to facilitate institutional-grade transactions and cross-border settlements with speed and efficiency," Claver noted.&nbsp;
Earlier this year, Ripple announced its new RLUSD stablecoin, which entered a beta testing phase in&nbsp;<a href="https://u.today/ripple-starts-testing-new-stablecoin" rel="noopener noreferrer nofollow">early August</a>.&nbsp;
As&nbsp;<a href="https://u.today/ripple-cto-breaks-silence-on-rlusd-stablecoin-rumors" rel="noopener noreferrer nofollow">reported by U.Today</a>, Rippe CTO David Schwartz recently revealed that the stablecoin will "only ever be available" directly to institutional clients.&nbsp;
According to Artur Kirjakulov, CEO and founder of XPMarket, the market cap of the XRP Ledger ecosystem recently&nbsp;<a href="https://x.com/Kirjakulov/status/1832807487965368713" rel="noopener noreferrer nofollow">hit</a> a new low of just $80 million. This shows that developers are leaving the ecosystem while capital is moving out. This underwhelming performance is largely contributed to the XRP Ledger's failure to make a dent in DeFi and the meme coin sector.&nbsp;
After Ripple secured a significant win last year with the court's critical summary judgment ruling, it&nbsp;<a href="https://www.cnbc.com/2023/07/17/ripple-hopes-judge-ruling-in-sec-case-will-lead-to-us-banks-using-xrp.html" rel="noopener noreferrer nofollow">predicted</a> that US-based financial institutions would want to use XRP for conducting transactions.&nbsp;
Earlier this year, a court document revealed that Ripple had allegedly switched from XRP to USDT for its On-Demand Liquidity (ODL) solution.&nbsp;

Ripple Not Reliant on XRP Holders, Business Expert Claims

U_Today

Other articles published on Sep 11, 2024

New Solana Memecoin Pepe Rektember Will Surge 16,000% Before Exchange Listings, As BONK and Shiba...

UAE Builds on Crypto Hub Reputation Through Partnerships

Dogen Is Sticking Out Its GYAT for Rizzlers – Buy Early and Get Crazy 10,000% Profits

What Is the Telegram-Based Catizen Game?

MAGA Price Prediction: TRUMP Plunges 10% As Polymarket Odds For Kamala Harris Rise After Presiden...

Magic Eden Launches New US Domain, Separates Services for US and International Users

Join our free newsletter for daily crypto updates!