Analyst criticized Ripple and its token XRP
According to Eric, XRP has no real application, and its use as a 'bridge currency' for transfers is unjustified due to centralization, high volatility, and low liquidity. He also accused the company of market manipulation, using partnerships with banks and political lobbying to increase the token's value.
Moreover, the analyst questioned the transaction volume in RippleNet, noting that $30 billion in total volume since the network's inception is negligible compared to the daily volumes of Tether ($50 billion) and Bitcoin ($40 billion). He also called the Ripple network centralized due to its control by a limited circle of validators
