— Ripple (@Ripple) 9 July 2018
The recent rebrand of Ripple XRP has been marked as an attempt for Ripple to step away from association with XRP. Many believe this is down to the fact that XRP is considered to be a security by many, as Ripple own a large sum of XRP, a currency that they have created. A recent post by Ripple though goes one step further in establishing some distance between Ripple and XRP, or Ripple XRP?
The tweet, refers to XRP as an independent digital asset which remains open source, whereas Ripple is a technology company that provides solutions for sending money globally. They do however seem to forget who made XRP and who owns XRP.
Honestly, this really does feel like Ripple are trying their best to get away from the XRP name, just incase this securities debacle does go the wrong way for them.
Image sourced from ripple.com
Okay, so we do see what Ripple are trying to do here. They want to make XRP a commodity that has a use value in the real world. By having a constant association as a part of Ripple technology, it makes it harder to imagine XRP as a sovereign currency in the mainstream. In order to make XRP ‘adoptable’ they need to clarify that XRP is a lone entity that can operate off its own technology, within this mainstream world.
Though, it does seem to be quite significant that they are timing this rebrand and XRP re-association with a number of lawsuits that are currently forcing more and more pressure onto XRP.