In a series of pointed remarks, crypto analyst Soni has shared his skepticism about XRP’s potential adoption by financial institutions, doubling down on his support for Bitcoin as the true leader in the future of digital finance.
Soni’s primary criticism of XRP centers on what he perceives as its “centralized risk.” He highlighted Ripple’s substantial ownership of XRP—approximately 50% of the total supply—as a key issue. According to Soni, this concentrated ownership exposes XRP to price manipulation and poses significant risks to banks and other institutions. “XRP is not decentralized,” he stated, claiming that financial institutions, which thrive on control, would steer clear of a cryptocurrency that could compromise their position.
The analyst also suggested that Ripple’s control extends to the ability to modify XRP’s code and issue more coins, a claim often disputed by Ripple and the XRP community. To him, this “lack of true decentralization” undermines XRP’s appeal to banks. Additionally, Soni pointed to the ongoing regulatory challenges Ripple has faced, arguing that such scrutiny could further hinder XRP’s adoption and value growth.
He also cited XRP’s performance history, noting that the cryptocurrency has struggled to reclaim its all-time high from seven years ago. According to Soni, Ripple’s periodic sales of XRP have further limited its price potential, leaving investors disillusioned.
In contrast, Soni praised Bitcoin, emphasizing its decentralized structure and global utility. He lauded Bitcoin’s open-source code and the relatively dispersed distribution of its supply, which he claims makes it resistant to manipulation and attractive to users worldwide. “Bitcoin thrives even in places where traditional banking fails,” he argued, referencing its growing adoption in underserved regions. Unlike XRP, Soni noted that Bitcoin’s resilience means it remains operational and valuable even in the face of potential government bans.
While Soni’s stance reflects his longstanding criticism of XRP, the token’s supporters remain largely unbothered, having grown accustomed to similar critiques over the years. Ripple and its advocates continue to emphasize the ecosystem’s expanding adoption and utility.
As the debate continues, it’s clear that differing opinions about XRP and Bitcoin reflect broader conversations about decentralization, regulation, and the future of digital currencies.
Disclaimer: The opinions expressed in this article reflect the author’s perspectives and are not intended as financial advice. Readers are encouraged to conduct their own research before making any investment decisions.
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