Wall Street Veteran Questions XRP Usage Despite Community Claims of Practical Applications
Main Idea
Wall Street veteran Fred Krueger questions the real-world usage of XRP, citing limited adoption beyond holding, while others highlight its use in cross-border payments and niche applications like NFTs.
Key Points
1. Fred Krueger claims no actual human uses XRP beyond holding it, questioning its utility.
2. A 2020 study found 96% of XRP Ledger transactions lacked economic value.
3. XRP is used for cross-border payments and peer-to-peer transfers, as confirmed by former Ripple developer Matt Hamilton.
4. XRP is utilized within the XRP Ledger ecosystem for purchasing NFTs and meme coins, but this does not equate to broad adoption.
5. XRP's adoption in banking remains limited, primarily used in Ripple’s On-Demand Liquidity (ODL) solution for cross-border payments.
Description
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