The XRP Army has strongly reacted to recent comments made by Eric Yakes, author of The 7th Property: Bitcoin and the Monetary Revolution, after he criticized Ripple and its XRP token in a social media post.
Yakes’ Criticism of Ripple and XRP
Eric Yakes took to X (formerly Twitter) to voice his opinions on Ripple, calling it “completely retarded” and questioning its legitimacy. According to Yakes, Ripple embodies the exact financial system issues that Bitcoin was designed to eliminate.
In his critique, Yakes argued that Ripple and XRP lack a genuine use case. He claimed he spent an hour researching the technology ahead of a speech at a TradFi conference, only to conclude that Ripple’s approach resembles centralized monetary issuance—contrary to Bitcoin’s decentralized principles.
Yakes specifically criticized Ripple’s remittance and central bank digital currency (CBDC) claims, arguing that XRP is too volatile, centralized, and illiquid to be a viable bridge currency. He suggested that stablecoins and Bitcoin already offer superior remittance solutions.
Additionally, Yakes accused Ripple of artificially inflating XRP’s price through marketing partnerships and political lobbying. He questioned the token’s scarcity, claiming the ledger could easily be forked, and alleged that Ripple funds “dubious adoption narratives” by selling XRP.
Citing RippleNet’s reported settlement volume of $30 billion since launch, Yakes contrasted this with Tether’s $50 billion and Bitcoin’s $40 billion in daily transactions. He claimed that Ripple’s claims of large-scale adoption are exaggerated.
Furthermore, Yakes raised concerns about XRP’s decentralization, pointing to a recent hour-long network halt. He asserted that a primary node operator intervened without wider coordination and that XRP’s 35 validators lack incentive to maintain the network since they aren’t compensated for running nodes.
“If your goal is to achieve political favor to make your token valuable, you need to find a higher purpose in life,” Yakes concluded, emphasizing his strong opposition to Ripple and XRP.
XRP Community Claps Back
The XRP community quickly defended Ripple and XRP against Yakes’ criticisms, providing counterarguments to refute his claims.
Former Ripple developer Matt Hamilton corrected Yakes’ assertion that Ripple and XRP are synonymous. “Ripple is a company, like Strike, while XRP is a cryptocurrency, like Bitcoin,” Hamilton clarified. He emphasized that Ripple’s focus on remittances and CBDCs applies to the company, not necessarily to the XRP token itself.
Hamilton also countered the notion that Ripple’s partnerships are misleading. He argued that incentivizing early adoption is a standard practice for emerging technologies and does not undermine XRP’s legitimacy.
Another XRP supporter, known as Vet on X, directly challenged Yakes, stating that he “wouldn’t last” in a debate comparing the XRP Ledger and Bitcoin. “This is the largest collection of misinformation or misunderstanding about both Bitcoin and XRP Ledger I have ever seen,” he added.
Conclusion
The heated exchange between Yakes and the XRP community highlights the ongoing debate surrounding Ripple’s role in the crypto space. While critics argue that XRP lacks true decentralization and utility, supporters continue to defend its purpose and adoption. As Ripple advances its partnerships and regulatory stance, the XRP community remains committed to proving its value in the evolving financial landscape.
