XRP Surges Amid Controversy, Trades at $2.40

In late 2024 and early 2025, XRP, the Ripple token, experienced a surge in bullish momentum after years of decline. However, the token has since faced turmoil, leading many experts to question its hype and performance. One researcher, Aylo, an alpha please researcher, went as far as to label XRP as the "biggest financial scam" due to its low trading volume. Aylo highlighted that the XRPL’s decentralized exchange volume was only $44,000, despite the high demand for the token. This claim sparked significant debate within the community, especially as XRP was announced to be part of the U.S. Strategic Crypto Reserve.

Ripple's CTO, David Schwartz, swiftly responded to the allegations, clarifying that the data presented by Aylo only represented the Automated Market Makers (AMMs) on the XRPL, which account for a minor portion of the network's usage. Schwartz emphasized that the suggested volume does not reflect the potential and utility of the Ripple token. He stated, "I can’t find the exact page you’re looking at, but I bet that’s just looking at AMMs on XRPL, a miniscule fraction of what people use XRP for."

Supporting Schwartz's claims, Vet, a dUNL validator, provided the correct volume figures. According to Vet’s stats, the actual 24-hour decentralized exchange volume on the XRPL is nearly $9M, contradicting Aylo's claims. Vet also saw this as an opportunity for market participants to leverage XRPL’s growth in the DeFi ecosystem, suggesting that the low DEX volume is due to minimal participation.

Despite the controversy, global investors continue to view XRP as a potential opportunity. This optimism is fueled by updates from the SEC vs Ripple case, the formation of Donald Trump’s crypto reserve, and the probable launch of an XRP ETF this year. Currently, XRP trades at $2.40 with a market capitalization of $139.54B, making it the fourth biggest crypto after Bitcoin, Ethereum, and Tether. While its performance has been significantly down amid the broader market correction, significant rallies are expected with a shift in market sentiments.