A recent podcast interview sparked a heated debate about Ripple, XRP, and its future. Let’s break down what happened.
Caitlin Long’s Critical Take on Ripple
Custodia Bank CEO, Caitlin Long, didn’t pull any punches in her criticism of Ripple and XRP. During a podcast appearance, she argued that Ripple’s early funding model resembled an ICO, which damaged XRP’s credibility with institutions. She also pointed out that despite its age, XRP hasn’t replaced traditional systems like SWIFT, and the launch of RLUSD (Ripple’s stablecoin) shows a shift away from relying solely on the XRP Ledger (XRPL). Long predicted that Ethereum, not XRP, would likely be chosen for government-backed projects due to its wider adoption.
The XRP Community Fights Back
XRP community member, Vet, quickly responded to Long’s criticisms, calling them inaccurate. Vet highlighted that Ripple never actually had an ICO, XRP initially had no value, and all tokens were created upfront. He defended XRPL’s decentralization, citing its numerous nodes and independent validators. He also pointed out that Ethereum, in contrast, did launch with an ICO. Vet emphasized ongoing XRPL development and its growing use in various businesses.
Ripple’s CTO Joins the Fray
Following Vet’s rebuttal, Ripple’s CTO, David Schwartz, chimed in. He acknowledged Vet’s initial points but extended an open invitation to Caitlin Long for a direct, fact-based discussion about Ripple, XRP, RLUSD, and the XRPL. Essentially, he’s challenging Long to a public debate.