The cryptocurrency community is embroiled in a heated debate over XRP's core utility and value drivers in 2025, with prominent figures questioning its relevance amid shifting market dynamics. Scott Melker, host of The Wolf Of All Streets Podcast, ignited the discussion by asking, "What is the current pitch for XRP? The token, not Ripple the company," noting that major players like Western Union have opted for Solana for stablecoin initiatives, and SWIFT chose Linea, challenging XRP's long-promoted role in global payments.
Critics argue that XRP's utility is diminishing, with some labeling it a tool for capital raising rather than practical use. DBCrypto asserted that banks show little interest, and XRP primarily funds Ripple's operations, citing that co-founder Chris Larsen has realized over $764 million from XRP sales since 2018, often near price highs. Attorney Joe Carlasare compared XRP to meme coins like DOGE and ADA, claiming its value is driven by community hype rather than utility.
In defense, proponents highlight XRP's technical foundations. Santiago Velez, co-founder of Onami Press, emphasized that XRP serves as a neutral bridge currency on the XRP Ledger (XRPL), essential for spam prevention and decentralized settlement without counterparty risk, similar to Stellar (XLM). Analysts like Krippenreiter reinforced that XRP remains purpose-built for cross-border payments and institutional DeFi, with Teucrium CEO Sal Gilbertie stating, "XRP has a true use case—there is just no doubt about it." The debate underscores XRP's polarizing status, with ongoing regulatory clarity and potential ETF approvals seen as future catalysts.
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