Ripple Moves to Correct “Ripple Is XRP, XRP Is Ripple” Narrative
Recently, a tweet from well-known crypto influencer Crypto Eri sparked an important discussion surrounding the distinctions between Ripple, and XRP, and their roles within the digital asset ecosystem.
The tweet highlighted a common misunderstanding that has been circulating, leading to confusion in the broader crypto community, particularly concerning a recent promotional communication from Linqto.
This communication inaccurately referred to XRP as Ripple’s native token, further contributing to the spread of misinformation.
Clarifying the Distinction Between Ripple and XRP
The core issue is the frequently blurred distinction between Ripple, a technology company, and XRP, the cryptocurrency associated with the XRP Ledger (XRPL). As Eri points out, Ripple is often incorrectly referred to as XRP.
However, this is not accurate. According to Eri’s tweet, Ripple has a team dedicated to addressing these miscommunications, attempting to correct the persistent myth that “Ripple is XRP” and “XRP is Ripple.”
Ripple (blockchain payment company), is a firm that develops payment solutions using blockchain technology. Its flagship product suite, RippleNet, leverages the XRP Ledger (XRPL) for faster and more efficient cross-border transactions.
However, this does not mean that Ripple owns XRP or that it’s its “native token.” XRP, instead, is a decentralized digital asset that exists independently of Ripple and is native to the XRP Ledger, a blockchain that operates independently from the company.
This distinction is crucial because XRP is utilized by various companies and individuals outside of Ripple’s ecosystem. Ripple is one of many entities that leverage XRP and the XRPL in their operations. As Eri emphasized in her tweet, “Ripple is a technology company whose solutions USE XRPL, XRP, RLUSD, and other digital assets.”
Miscommunication in Linqto’s Messaging
The source of the confusion stemmed from Linqto’s recent communication regarding Ripple’s new stablecoin, RLUSD. In the communication, Linqto mentioned that XRP was Ripple’s native token, a misstatement that led to further misunderstanding.
Linqto’s promotional material also seemed to suggest that Ripple itself was on the brink of a market breakout when it is XRP, the digital asset, and not the company, experiencing price fluctuations.
As Eri noted it’s not Ripple that is breaking out; rather, it is XRP that is seeing market movement. This correction was necessary to address the misconceptions being propagated. Crypto Eri suggested that Linqto may have hired a new PR firm, potentially responsible for the erroneous communication.
Community Reactions to the Clarifications
Following Eri’s clarifications, a user named XRP Shillionaire responded, arguing that XRP is indeed Ripple’s native coin, claiming that Ripple CEO, Brad Garlinghouse, had stated this many times in the past.
However, Eri rebutted the claim by reiterating the core distinction: “XRP is the native digital asset (coin) to the #X]RP Ledger. Not Ripple.” This response reinforces the point that while Ripple utilizes XRP in its payment solutions, XRP remains a decentralized asset and is not owned or controlled by Ripple.
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Ripple’s Role in the Broader Ecosystem
Ripple’s role as one of many companies using XRP and the XRP Ledger is an important point to highlight. As Eri mentioned in her tweet, Ripple is one of many builders who use XRP and the XRPL to facilitate payments and other blockchain-based solutions. This open-network nature of the XRP Ledger allows a diverse array of participants to build on top of it, similar to how other blockchains operate.
Ripple’s payment solutions, including RippleNet, enable financial institutions to settle cross-border payments faster and more efficiently than traditional methods. These solutions can use XRP as a bridge currency, but Ripple also supports other digital assets within its ecosystem, such as RLUSD, its newly launched stablecoin.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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