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Ripple: Can Hoskinson’s XRP Disdain Affect the Token’s Progress

The Ripple [XRP] community’s problems with Charles Hoskinson may not be over anytime soon, as new developments have emerged. In a tweet on December 17, the Cardano [ADA] founder described the community as toxic, noting that he was ready to move on from the collection he has with the project.

Hoskinson’s outburst was not unexpected. Instead, he was responding to an allegation about his XRP criticism on December 16th. Notorious for not letting flaws slide, the Cardano CEO was accused of skipping Bitcoin [BTC] conferences due to “insults” from certain holders.

Hoskinson, on the other hand, stated that toxicity was not the only reason he parted ways with Ripple.

Hoskinson defended his position by stating that XRP provided no technical value to Cardano or the crypto ecosystem as a whole. Recently, the co-founder of blockchain development firm Input Output agreed that if XRP settles out of court with the SEC, it could crash. Comments on his tweet revealed discrepancies from various perspectives.

Ripple, according to some XRP supporters, required Hoskinson’s input to grow. However, some ADA and XRP holders pointed out that the conflict was unnecessary.

Despite the statement, Ripple was doing well in terms of development. According to Santiment, XRP’s development activity peaked on December 9th. Since then, it has only increased, remaining at 9.79 at press time.

This increase indicated that much was going on in private GitHub repositories regarding the Ripple chain. Nonetheless, there was little to no correlation between Ripple’s development activity and the XRP value. Similarly, negative comments had no effect on network upgrades.

Aside from that, investor activity in accumulating XRP into custodial wallets has remained flat. This was demonstrated by the supply of exchanges, which remained at 99.97 billion.

In terms of network expansion, Santiment data revealed a significant slowdown. XRP’s network growth was 1045 in exact numbers. This reflected a drop in traction and user adoption. However, it would be easy to assume that Hoskinson was involved because the decline began before his most recent declaration.

Meanwhile, the seven-day circulation of XRP attempted to compensate for the losses. Although it was insignificant, dropping from 6.9 billion to 1.76 billion was no small feat. This stance was explained in terms of minimal XRP transactions. Finally, Hoskinson’s remarks appeared unrelated to the XRP network disruption.

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