Have Ripple Been Lying To Us With XRP?
XRP, the brainchild of Ripple and one of the most notorious cryptocurrencies on the market. As an investment opportunity, XRP hasnât really presented itself as a viable investment for many, though during the cryptocurrency boom of 2017-2018, XRP did manage to bring healthy returns to a number of investors. Even so, for Ripple, this isnât the be all and end all of their currency, instead, XRP is less of an investment and more of an asset that has been designed to facilitate Rippleâs growing technologies. XRP is a token for cross-border payments and money transfer, if anything, its use as an asset for investment is just a side-quest.
Due to the way Ripple actually own a large chunk of XRP, Rippleâs integrity was called into question when people started to suggest that the token should be classed as a security. This is a saga still on-going and one that is currently being investigated by the United States Securities and Exchange Commission. Overall, itâs unlikely that XRP will be registered as a security in the end, though the threat is still there for Ripple, I guess.
An opinion piece has been posted in ZyCrypto by âMr Oakâ that discusses how XRP might be seen as a deceptive cryptocurrency:
âRippleâs recent buzz around [XRP] it has thrown its investors into another state of uncertainty, asking the question that, is the Digital coinâs sudden rise, another adventure which at the end will prove to be hopeless as theyâve witnessed in the past. The Digital currency entered the crypto market with a bang, and the coin within a short period amassed quite some number of investors. Itâs smooth sailing into the top further endorsed its notion as the next Bitcoin.â
Why doubt XRP?
As touched upon earlier, many are losing faith in XRP because they are only seeing this asset from an investment point of view and, letâs face it, XRP hasnât proven to be a great investment over 2018, apart from a few short spikes in the value of the token:
âMany investors have doubted any coin which didnât have the same traits and qualities as Bitcoin, as it is considered to be the father of all cryptocurrencies. XRP doesnât have the regular standard cryptocurrency features and focuses much on making its blockchain as strong as it could be. Ripple is not mined like Bitcoin and many other cryptocurrencies, which is a very big deal for many crypto investors.â
Whatâs our take?
You should check out the piece by âMr Oakâ as it raises some interesting points. Even so though, we donât believe XRP is deceptive and frankly, Ripple hasnât been lying to investors, because thereâs nothing to lie about. Ripple doesnât waste time telling people to buy XRP or put money into it, instead the goal for Ripple is to promote their technologies across banks and the financial sector. Yes, it benefits Ripple when people invest in XRP but overall, as I have stated, this is a side-quest and is a small part of something far bigger. A money transfer revolution that promises to be led by Ripple and their revolutionary technologies.