Ripple Under Attack For Suggesting XRP Is Simply “Blue Gold” It Discovered

Why Banks Will Turn to Ripple And XRP

Ripple has had its fair share of woes in 2019. Even though the crypto market has not been performing satisfactorily enough, things were a lot better a few months back when Bitcoin (BTC) began its surge and eventually dragged most other altcoins along with it. However, even at this time, XRP seemed to have been left behind.

A little later, Ripple came under a lot of fire from XRP investors and its community at large, as a reaction to the company’s incessant dumps of its XRP. At the time, Ripple CEO Brad Garlinghouse explained that the dumps were necessary to ensure that XRP remained competitive and kept prices optimum. This, however, did nothing to abate investors who had already expressed their anger and further threatened to fork XRP.

Now, Ripple has been hit with another round of firepower from co-founder and Castle Island Ventures partner, Nic Carter. Carter recently took to his Twitter (@nic__carter) to express his dissatisfaction with Ripple because the company has repeatedly downplayed its control of XRP in the past. A recent tweet from Carter, described the Ripple team as psychopathic, saying:

“For the record, these psychopaths are still literally and without a shred of irony, claiming that they “discovered” XRP as opposed to having created it.”

Ripple has been attacked before by the crypto community, describing it as not being fully decentralized. This is because the company still holds quite a large amount of XRP, meaning that they have in their hands, more control than should be ascribed to a truly decentralized crypto asset.

Cory Johnson, who until February was the Chief Market Strategist at Ripple Labs, once tried to explain the Ripple-XRP relationship with a comparison between Chevron – one of the world’s largest oil corporations – and the oil it produces.


“Ripple’s relationship to XRP is akin Chevron’s relationship to oil. We have a lot of it, we believe it’s a superior technology and we support its many uses – for billions of reasons. But we don’t have all of it, we don’t control it and we aren’t it.”

This attempt is just one of many from Ripple, as it tries to convince the general public that it doesn’t have that much control over the asset.

Ripple supporters have also defended the company against Carter’s attacks. According to the XRP community, Ripple never really claimed that they didn’t create XRP. Justifiably, the main problem with Ripple has been its unfair control of XRP and not whether it really did create the asset.

Ripple is however still trying to control the general narrative that XRP is seriously being manipulated.