XRP Investor Is Not as Confident in Ripple as Before

A fan of Ripple and long-time XRP investor is going viral on Reddit after stating he is losing confidence in the future of the third-largest crypto asset on the market.

His post, entitled “Long-term hodler losing confidence,” reached the top of the r/Ripple subreddit. The trader doubts the level of XRP adoption among financial institutions and if Ripple’s crypto-based payments product, known as On Demand Liquidity (ODL), will drive the price of the asset.

Specifically, he notes that statements made by Ripple’s executives, such as chief executive officer Brad Garlinghouse, claiming that a large number of banks would use XRP, have not yet come to fruition:

“Garlinghouse and Schwartz mentioned dozens of banks would be using XRP, Ripple would be working with major household names, but two years have passed and very little has been made public… Perhaps the developments continue to happen behind the screens, but so far the use case/ODL have not had any positive impact on price and XRP continues to move along with BTC.”

The investor states he first bought XRP back in 2017 and states that he is not going to sell it.

The top response to the investor’s criticisms reveals a more positive situation: rising volume for Ripple’s XRP-based liquidity product.

“Ripple has publicly stated (XRP 2019 Q4 Markets Report) that they will be introducing a new market in Latin American, Asia-Pacific, and Europe in 2020… Crypto holders have been waaaayyyy out in front of their skiis for several years now. Being frank, XRP is the only asset that is delivering on its use case in Production on any scale today.”

Ripple collected $200 million in a Series C funding round in December and says it will use the funds to expand its XRP-based remittance platform, speed up development on the XRP Ledger, embrace new talent and better serve its clients.

XRP is outrunning traditional markets in 2020. It started the year at $0.1936, shot to $.03372 during the crypto-wide bull run in February, and then fell back to January levels. The digital asset is trading at $0.1955 at press time.