Ripple president Monica Long‘s recent comments in an interview with the Chain Reaction Pod have sparked a wave of concern in the XRP community. The interview, which centered on the implications of the U.S. court ruling declaring XRP as not a security for retail investors, left many anticipating a clear stance on XRP’s adoption post-lawsuit. However, Long’s response shied away from directly acknowledging increased adoption, focusing instead on market trends.
Long observed a consistent market trend, attributing it to speculation and excitement over Exchange-Traded Funds (ETFs). She stated, “I’ve observed a more consistent trend line of the market moving together over the past several months, based on speculation and excitement of ETF. So the market has been moving more together versus a segmented fashion.” While providing insight into general market behavior, this remark did not directly address the specific query about XRP’s adoption, leading to notable reactions from the community.
Community figures voice their concerns
Prominent XRP community figures have expressed unease with Long’s indirect response. A notable community member, WrathofKahneman, highlighted that the response focused more on price trends than adoption, which was the crux of the inquiry. He interpreted Long’s statement as a subtle ‘no,’ pointing out the absence of any affirmative indication about XRP’s adoption post-lawsuit.
Similarly, Yassin Mobarak, founder of Dizer Capital, shared his apprehensions. He underscored the significance of the question and the implications of not receiving a straightforward ‘yes’ from Long. Mobarak’s concerns stem from the perception that Ripple’s efforts alone might not drive XRP’s adoption and potential price growth. Instead, he believes the use cases and projects developing on the XRP ledger, such as Hooks, Evernode, and xSpectar, could play a crucial role.
The future of Ripple adoption and market dynamics
The lack of a direct answer from Ripple’s president raises questions about the future trajectory of XRP in the U.S. market, especially in the aftermath of regulatory clarity. Despite the court’s decision, the response suggests that challenges may persist for Ripple in leveraging this legal victory to foster wider adoption of XRP.
Moreover, the conversation shifts towards the broader perspective of market dynamics. Focusing on unified market movements instead of specific advancements in XRP’s adoption indicates a more holistic approach to understanding cryptocurrency trends. This perspective may signal a need for the XRP community and investors to consider factors beyond Ripple’s direct influence, such as emerging technologies and projects on the XRP ledger, which could drive adoption and growth.
