Fred Krueger, a veteran of the financial market, sharply criticized the use of XRP, accusing it of lacking real-world applications.
Fred Krueger's Statement on XRP
On his social media page, Krueger stated, 'Not one actual human being is using XRP. Not one.' This statement sparked an active discussion among supporters of the token.
Response from the XRP Community
Members of the XRP community actively responded to Krueger's comments. Matt Hamilton, former director of developer relations at Ripple, shared his experience of using the token to send money to a friend in the US. He noted that it was the easiest and fastest way to help while being in the UK. Additionally, users pointed out that XRP is used for purchasing meme coins and NFTs on the XRP Ledger.
Criticism and Alternatives to XRP
Krueger remains skeptical of such examples, asserting that XRP's use cannot be compared to Bitcoin, which he believes has genuine utility. He also referenced a study conducted in 2020, indicating that 96% of transactions on the XRP Ledger hold no economic value. Despite this, XRP's application among banks is limited, and it is utilized as a bridge asset in Ripple's liquidity solutions.
Fred Krueger's stance reinforces existing debates about the usefulness of the XRP token. While some users actively utilize it, critics continue to point out its deficiencies and limited adoption.
