Ripple's XRP, the third-largest cryptocurrency by market cap, gained attention after President Trump highlighted it as part of a new Digital Asset Stockpile. This structure, managed by the Treasury, places XRP among other notable cryptocurrencies like BTC and ETH. While Ripple's technology is utilized by major banks for interbank settlements, only its On-Demand Liquidity (ODL) service necessitates holding XRP, raising questions about the altcoin's overall utility. XRP also functions as a gas token but lacks complex smart contract capabilities, minimizing its role in Web3 compared to Ethereum. Despite some usage in banking, concerns about XRP's independence linger, amplified by Ripple Labs holding approximately 55% of the pre-mined tokens. Ripple’s unique node validation approach contrasts with the decentralized nature of Bitcoin and Ethereum, leading some to view XRP more as a banking tool than a free cryptocurrency. CEO Brad Garlinghouse advocates for equitable treatment of cryptocurrencies, yet XRP's function and long-term viability remain disputed.

Source 🔗