An XRP holder has criticized Ripple for prioritizing its own interests over the development of the XRP ecosystem.
Criticism of Ripple Management
A researcher known as Dark Horse took to X to express dissatisfaction with Ripple CEO Brad Garlinghouse, CTO David Schwartz, and President Monica Long. He criticized them for bot use, centralized transactions, and reliance on centralized exchanges. He believes that the management continues to push projects that do little for the millions of XRP holders but allow them to distribute 300 million XRP each month.
Ineffective Projects
The researcher specifically cited Root Network and OpenEden Tbills as projects that do nothing for the ecosystem yet receive substantial backing from Ripple. Root Network is built on Substrate’s open-source blockchain framework and connects games and content, while OpenEden offers tokenized Treasury bills on the XRP Ledger. OpenEden recently received $10 million from Ripple. However, the researcher claims that no one in the US or UK can qualify for OpenEden’s products.
Centralization of XRP Ecosystem
Beyond internal operations and legal battles, the researcher argues that Ripple has centralized the XRPL ecosystem, making changes without Ripple’s approval impossible. He cited the failed implementation of the Xahau Layer 2 network and Hooks designed to add smart contracts to XRPL. The researcher called for more democracy in ecosystem governance and for XRP to be used for the benefit of the entire network, not just Ripple shareholders.
XRP is trading at $0.554, down less than 1% in the past day and nearly 7% over the past week. The market cap stands at $31.167 billion.
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