Private Equity Founder Says XRP Holders Have Been Sold A Dream That May Never Come True

Altcoins

Ripple shareholder and founder of Dizer Capital, Yassin Mobarak, has expressed his discontent over the suppressed growth and development in XRP. The private equity founder declares that XRP holders have been sold a pipe dream and may face losses after holding the cryptocurrency for an extended period.

XRP Holders To Face Harsh Reality

Recent developments in the XRPL ecosystem, specifically the departure of two significant validator operators, have ignited discussions and debates in the XRP community. Responding to these events, Mobarak took to X (formerly Twitter) to express criticism over Ripple’s management of its ecosystem and the current declined state of the XRP token. 

Mobarak clarified his intention was not to diminish XRP’s core value, emphasizing his position as a Ripple shareholder. He stated that he desires for Ripple to succeed, however, not at the expense of the millions of XRP holders who have invested in and supported the cryptocurrency for years. 

In response to the Ripple shareholder’s posts, an X community member pointed out that amidst the excitement surrounding Ripple and XRP, it is important to remember that Ripple’s primary objective is making profits. He revealed that Ripple does not have noble intentions towards its investors and will continue to leverage XRP and the XRP Ledger to make financial gains.

Subsequently, Morabak highlighted Ripple’s alleged failings and delivered a scathing remark about the ecosystem’s managerial process, deeming it “sad and shameful to see.” He also revealed flaws in Ripple’s programmable transfer of value and criticized its use of the escrow account, emphasizing a lack of benefit to both the ecosystem and the public ledger.

Token price struggles at $0.53 | Source: XRPUSD on Tradingview.com

Ripple Accused Of Mishandling Incentives

In another post on X, Morabak voiced his concerns about Ripple’s approach toward providing incentives for XRPL validators. The Ripple shareholder stated that he “no longer agrees that the best incentive is no incentive.”

This statement comes after prominent validator and XRPL contributor Alloy Networks announced that it would be exiting the XRPL network and removing its Ripple-related infrastructure from the ecosystem. 

Following this X handle, “Fomo” declared that it would be decommissioning two major mainnet nodes, including xApp, from the network. The X user explained that it would redirect its testing efforts to other networks and cease participation in the XRPL network. 

As a result of these developments, Morabak has accused Ripple of mishandling the incentives concept in the XRPL ecosystem. Similarly, a volunteer of the XRPL network, Nik Bougalis, has stated that Ripple’s no-incentive approach for its validators has been worn thin by misuse and repetition.

Featured image from MattressNextDay, chart from Tradingview.com

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