- Crypto researcher at Alpha Please, Aylo called XRP the biggest financial scam.
- Ripple CTO responded and corrected on-chain data figures of XRPL DEX volume.
The saying, there’s never a dull day in crypto, yet again came true with the latest comments of a researcher about one of the top cryptocurrencies like XRP. Researcher Aylo called XRP the biggest financial scam the world has ever seen. Such a bold accusation on Ripple and its token triggered a variety of reactions from the crypto community.
Aylo, a researcher at Alpha Please, made a post on X recently called XRP the “biggest financial scam.” To support his accusation, Aylo cited XRP Ledger’s 24-hour DEX trading volume of $44K, as per DefiLlama. He further said that no other crypto reached a market cap of $140 billion that produced less value.
Ripple Chief Technology Officer, David JoelKatz Schwartz, responded to Aylo’s post. Since $44K is such a low 24-hour DEX volume, Ripple CTO suggested that it only considered XRPL’s AMMs. His post read,
“I can’t find the exact page you’re looking at, but I bet that’s just looking at AMMs on XRPL, a minuscule fraction of what people use XRP for.”
Replying to the same post, the dUNL validator Vet made another post supporting the project. He stated that XRP is arguably the biggest opportunity market in the whole crypto. Vet also corrected the 24-hour DEX volume, stating that the actual volume is $9 million not $44K.
However, the comment section also included several posts that affirmed that XRP is a scam with little to no value. While one comment raised concerns our the legitimacy of the XRP token supply, others confused the 24-hour DEX volume with XRP’s 24-hour trading volume.
Despite the massive community, XRP’s real value and the strength of the fundamentals remain dim compared to other top cryptocurrencies such as Ethereum and Solana. An almost four-year-long Ripple lawsuit was recently closed by the SEC under Trump’s new administration. Only time proves which cryptocurrencies are the real gems with real-time utility and strong fundamentals.
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