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Ripple Faces Centralization Criticism Amidst XRP Surge
The cryptocurrency community is abuzz with discussions surrounding Ripple and its native token, XRP. According to BTC-ECHO | Bitcoin & Blockchain since 2014, a crypto expert has raised concerns about the centralization of Ripple's network. Justin Bons from Cyber Capital claims that despite the impressive surge in XRP’s value—over 400% since early November—the underlying structure remains centralized and permissioned. He argues this misleads investors into believing they are partaking in a decentralized system when, in reality, control lies firmly within the foundation's grasp.
Bons suggests that Ripple should consider adopting a Proof-of-Stake mechanism to enhance decentralization moving forward. The ongoing rally sees XRP trading at $2.40 as it surpasses Solana and Tether by market capitalization, positioning itself third among cryptocurrencies globally.
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XRP Rally Sparks Rug Pull Concerns
Investing.com Deutsch reports on growing skepticism regarding the sustainability of XRP’s recent price hike following delays in launching RLUSD—a stablecoin anticipated to bolster Ripple's offerings further. Despite official statements attributing postponements to pending regulatory approvals from New York State Department of Financial Services (NYDFS), rumors persist suggesting strategic maneuverings behind closed doors.
This development coincides with vocal criticisms from Bitcoin maximalists who predict an impending collapse for XRP due largely to their perception of current market dynamics resembling classic pump-and-dump schemes rather than organic growth patterns typically observed across financial landscapes worldwide.
XRP Eyes Recovery After Recent Setbacks
FXStreet German site highlights potential recovery prospects amid setbacks faced recently by both traders holding long positions against short sellers capitalizing upon volatile swings experienced throughout December thus far; however, significant challenges remain ahead before reaching new all-time highs projected around $3.57 per unit according to the latest analyses conducted using Coinalyze data sources available publicly online today!
Despite these hurdles, optimism persists amongst supporters eager to see continued progress made towards achieving greater stability via the introduction of the forthcoming RLUSD initiative once fully approved by regulators overseeing industry practices nationwide, including NYDFS themselves directly involved in decision-making processes affecting the future trajectory of the entire sector collectively speaking. Indeed, the determination of individual stakeholders invested therein is equally unwavering and steadfast.
Sources:
- Krypto-Experte: "Ripple ist zentralisiert und täuscht XRP-Anleger"
- Ripple stoppt RLUSD: XRP-Rallye droht zur Mutter aller Rug Pulls zu mutieren!
- XRP von Ripple könnte sich nach dem jüngsten Pullback erholen
- Solana und XRP: SEC prüft neue Krypto-ETFs
- XRP stürzt ab, während Bitcoin die 100.000-Dollar-Marke durchbricht
- Krypto-Community jubelt: Neuer SEC-Chef bestätigt
