Top Analyst Reveals Why Banks Will Not Adopt Ripple’s XRP: Unveils Superior Crypto Alternative

Top Analyst Highlights Challenges for Ripple and XRP Adoption in Banking Sector

In a recent analysis, a leading cryptocurrency expert has shed light on the factors inhibiting banks' adoption of Ripple and its cryptocurrency, XRP. The analyst suggests that XRP's inability to compete with existing systems, coupled with other limitations, may hinder its widespread use in the banking industry.

Ripple's New Smart Contract Capabilities

The analyst notes Ripple's recent decision to implement native smart contract capabilities into its platform. However, he points out that Stellar has already implemented similar features.

Criticism of XRP

The expert emphasizes the need to distinguish between Ripple, the company, and XRP, the cryptocurrency. He argues that many supporters may not fully understand this distinction.

One significant concern raised is the lack of visible on-chain activity for XRP. The analyst claims that he cannot find evidence of banks actively using XRP. While he acknowledges that banks may use Ripple's technology, he expresses doubt about their adoption of XRP itself.

Comparison with Stellar

The analyst draws parallels between Ripple and Stellar, positioning Stellar as the first mover in several areas, including:

• Stablecoins: Stellar has integrated USDC.
• MoneyGram partnership: Stellar secured this partnership after MoneyGram allegedly declined to work with Ripple and XRP.
• Real-world asset tokenization: Stellar ranks higher than XRP in this area.

Criticism of XRP Community Beliefs

The expert criticizes the XRP community for relying heavily on speculative articles about bank adoption without thoroughly researching on-chain activities.

Stellar's Superior Positioning

The analyst posits that Stellar's founder, Jed McCaleb (also a former co-founder of Ripple), has been more visionary in his approach. He suggests that this led to McCaleb's departure from Ripple and the creation of Stellar.

The analyst further argues that many banks are developing their own blockchain solutions, potentially reducing the need for XRP.

Pessimistic Outlook for XRP

The expert expresses a pessimistic view of XRP's short-term prospects, stating that it is unlikely to experience significant adoption this bull run. He suggests that widespread adoption could be five to ten years away, if it occurs at all.