Ripple may be championing cryptocurrency movement to the mainstream but neglecting other things. This shows in the percentage level of investors and holders of its digital token XRP, which is currently below 0.020%. This is a pointer that Ripple is not paying enough attention to the growth of its retail network.
Ripple ecosystem definitely would need to widen its retail network to determine where its digital currency XRP will be.
It has been able to blow past its competitors by focusing on large institutions to gain legitimacy and scalability. But this ideology doesn’t showcase what the digital currency stands for.
According to the argument by some crypto enthusiasts, the focus of digital technology is not on centralization.
Testing crypto with banks is that the vision, the reason for the creation of the digital assets is to have a peer-2-peer transaction, eliminating third parties like banks.
The Major Factors Affecting the Growth Percentage of Ripple Retail Investors.
Ripple seems to be driving hard against the core ideology of crypto technology. The original aim for the creation of the digital assets is to liberation the flow of funds between person to person from the monopoly of the third parties. These include banks, other financial, and payment processors.
Majority of those who want to own cryptos don’t want to get involved with the banks, but now all Ripple financial tools which are used by the banks are also integrated with XRP.
Move for Institutional adoption has stirred up the Monetary Regulatory Bodies to scrutinize crypto operations. Such is the latest rules and regulations mapped out by the Financial Action Task Force (FATF), for cryptocurrency operators.
The digital assets were created to operate parallel to fiat currency which is controlled by the banks, but Ripple seems to be blowing its way up into the banking mainstream dragging its native token XRP along.
Investors and holders of this digital assets bought into this because it is seen as an early stage investment opportunity with a long term plan.
But a bulk of those who develop an interest in crypto does so because they do not have to deal with the banks.