Ripple’s Schwartz defends low XRPL volume, says banks settle offchain
Ripple claims hundreds of bank partners, but with a 30%–40% drop in XRPL activity and institutional use concentrated offchain, transparency concerns persist.
Ripple, the company behind major cryptocurrency XRP, is facing community backlash after online entrepreneur Andrei Jikh raised questions over the company’s projects and transparency.
Jikh took to X on Wednesday to voice multiple concerns about Ripple, including the lack of verifiable onchain data to support the company’s claim of securing over 300 bank partnerships in its 13 years of operation.
Ripple’s chief technology officer, David Schwartz, promptly joined the X thread, addressing all six questions raised by Jikh to defend the company’s approach to transparency, onchain data and institutional adoption.
