Ripple Labs likes to boast about its growing network of clients – financial institutions that supposedly use xCurrent or xRapid. Ripple claims this network of clients, the RippleNet, counted over 100 members by the end of 2017.
Ripple is a private company, therefore, it doesn’t have to disclose anything it does. But why does it behave like a public one?
Ripple Labs has been advertising its new solution, xRapid, hand over fist. It’s supposedly much cheaper, faster and better than the competition, namely SWIFT. This is hard to believe, since xRapid itself needs to use SWIFT.
In mid-2017, Ripple Labs finally had the wind in its sails. A few months earlier, it had secured a $50 million Series B funding round, and was starting to get high on the crypto vibe. But most importantly of all, it had finally come up with its master plan for disrupting banking.
After the release of JP Morgan’s JPM Coin, Brad Garlinghouse, Ripple Labs’ CEO, was quick to criticise the new cryptocurrency for being closed-ended and for JP Morgan’s internal use only. Ripple Labs, on the contrary, prides itself in having established an open standard, with a network of users they call “RippleNet”. In reality, RippleNet is […]
Ripple Labs is fighting a legal battle to prevent XRP being labeled as a security, trying to dodge the long arm of securities law. If it were to fail, Ripple would become a poster child for securities fraud class action lawsuits. However, lawyers could get Ripple’s ass served to them even without resorting to securities […]
XRP, the coin that Ripple Labs created and then gave to itself (and its founders), posted spectacular returns in 2017, going from $0.006 to over $2. The coin rose in parallel with an aggressive PR campaign from Ripple Labs. Let’s see what were the claims that they made throughout the year, and compare them to […]
Ripple is notoriously secretive about its revenue model. Many suspect that the only way it makes money is by selling its stash of XRP coins. The company never bothered to dispell this suspicion. In fact, it never even revealed how much its products and services cost.
Ripple claims that banks will use its technology to perform fast cross-border transfers. When that comes, they will need to buy XRP coins, and that’s why XRP coins are valuable. In reality, Ripple doesn’t stand a chance, and it must know it. It’s argument that XRP coins are worth anything at all, is a flat-out […]
The moment I posted my first piece about Ripple and XRP, my Twitter feed became flooded with rebuttals, counter-arguments, and plain old insults. I discovered that most of these messages came from a group of Twitter accounts who identify themselves as the “XRP Army”. I became so fascinated by their tactics and energy, that I […]