Ripple may believe that pushing for institutions to adopt its native token XRP is the best thing for its community, but enthusiasts have other thoughts. They believe Ripple is mounting selling pressure on XRP, not allowing the crypto to appreciate based on the workable market indices.
In a discussion going on among the crypto community members on Twitter, which consists of XRP holders and lovers, there are bitter complains about the effect of Ripple push on XRP.
It is translated in a form that Ripple is using XRP as a bait to sell its services, a scenario of dragging the sheep to the slaughterhouse.
What are Indications that Suggest Ripple is Mounting Selling Pressure on XRP?
The main purpose of creating digital assets is to enable, a more seamless, faster and cheaper transfer of funds between person to person without the interruption of a third party like government or the bank.
The vision was to liberate the society from the monopoly of funds circulation by these third parties. But Ripple seems to be pushing its native token back to the limitation of operating only within the banking corridors.
Integrating XRP With Decentralized Financial Tools
Recently, Ripple integrated its financial tools with XRP, xRapid and the recent upgrade of xCurrent to the latest version 4.0, which is also integrated with xRapid. Obviously, it is impossible for banks or other institutions to use these tools without the digital asset, XRP.
Ripple xRapid, enables banks to settle liquidity requirement demand in cross-border settlement. While xCurrent enables transaction monitoring and communication between banks by messaging of payment information before and after a transaction is consummated.
Ripple has made so much effort to partner with banks and other financial regulatory bodies in an aim to bring XRP to be accepted as a settlement tool in cross-border payment.
Ripple XRP would replace the US dollar in international payment settlement if allowed by the SEC.
Enthusiasts, now express concern because there is fear Ripple activities will end up transforming XRP from virtual currency to a banking tool, which may hinder investors whose only interest is in the cryptocurrency.