Tensions within the Ripple Labs Inc community are on the rise as a growing number of members express dissatisfaction with what they perceive as a lack of progress in the company’s payment technology.
In a recent post, the American payment firm reiterated its dedication to advancing financial innovation and highlighted how IT service businesses could leverage its technology for progress. The post outlined three key ways IT businesses could utilize Ripple Labs’ payment solutions, focusing on streamlining vendor payments, achieving instant and cost-effective payment settlements, and enhancing overall transparency.
Despite the promising nature of these solutions, some members of the XRP community have raised concerns, asserting that the company has been espousing the same narrative for over three years.
While there is a dual-faced debate within the community, with some staunchly supporting XRP’s innovations, a significant number of critics cite dissatisfaction with the performance of XRP in the market.
Ripple’s XRP Trails Behind As Solana (SOL) Dominates With 808% Surge
XRP’s price has notably underperformed when compared to other top altcoins like Solana (SOL), which offer similar value propositions. Over the past year, XRP has seen a mere 81.53% increase, paling in comparison to Solana’s remarkable 808% surge.
Delving deeper into the Ripple and XRP connection, it is essential to note that XRP Labs is not the issuer of XRP, despite the coin’s integral role in services such as XRP Payments.
The company recently obtained partial relief when Judge Analisa Torres dismissed allegations of selling XRP as unregistered securities to retail investors. This pivotal ruling, issued in July of the preceding year, marked a significant legal victory for XRP, following the SEC’s lawsuit in December 2020.
However, the intricate connection between Ripple and XRP is further complicated by Ripple’s control of a substantial XRP supply locked in escrow. This factor has made the company subject to scrutiny from community members, particularly concerning the coin’s price outlook.