Clearly, patience is wearing thin for the XRP community. Crypto Bitlord, the crypto influencer who started a petition last month to demand Ripple stops dumping has now taken a giant leap towards the forking of Ripple’s XRP. A discord channel is now open for anyone who wants a recreation of Ripple, basically forking the third-largest cryptocurrency by market cap.
Meanwhile, CEO Brad Garlinghouse spoke during an interview with CNN about this fork by the XRP community for the first time.
Ripple CEO Brad Garlinghouse Addresses Fork Concern
A quick rundown of things: XRP community has continuously been agitated by XRP’s OTC sales. Late last month, crypto influencer Crypto Bitlord started a petition to demand Ripple Labs stops the practice. He then gave Ripple Inc. a 60-day ultimatum to stop these routine sales, after which he would pursue a fork. This is where we are at now.
Crypto Bitlord announced yesterday via Twitter that he had opened a discord channel titled “Ripple One” for interested XRP investors to discuss an XRP fork.
Brad then addressed this issue of forking XRP in yesterday’s interview with CNN for the first time. He noted that bitcoin (BTC) underwent several forks but has “remained the most notable”. He then went ahead to say that XRP army could fork XRP if they wanted to do so.
According to Brad:
In response to Garlinghouse’s interview with CNN, Crypto Bitlord said Brad’s comments about said controversial XRP sales were unsatisfactory as the Ripple CEO was “very very dodgy” with most of the questions.
Ripple Would Still Be Supreme If The Fork Materialized
As Brad noted, if the XRP fork occurred, Ripple would still be at an advantaged position compared to the resultant fork. Essentially, Ripple would enjoy the dominance in terms of reputation and flourishing products.
Notably, Ripple (XRP) is among the few coins that have yet to be forked. Ripple owns 60% of all the XRP in circulation presently, which according to Brad, is locked in an escrow. The Ripple One fork would, unfortunately, have to start afresh.
On top of that, Ripple has established a good name for itself in the crypto industry during its existence. Ripple has inked partnerships with high-profile banks like Santander and payment giant MoneyGram, and we could be seeing more partnerships in the near future. Ripple One will, therefore, have the task of persuading partners and investors that its general notion is better than Ripple’s concept.
Also, it’s still unclear whether Ripple One will be able to clone Ripple’s products like xRapid, RippleNet, and xCurrent.
Nonetheless, many in the XRP community are still bearish on XRP despite Garlinghouse reassuring comments during his interview with CNN. Therefore, unless Ripple Labs adopts more concrete measures to address this nagging issue, the already started XRP fork could be successful.