XRP Slammed as the Largest Financial Fraud in History by Alpha Please Researcher

The crypto space witnessed new controversy as Aylo, an Alpha Please researcher, referred to XRP as the largest financial fraud in history.

Crypto researcher Aylo has sparked debate by calling XRP the "largest financial fraud in history." The claim, shared on Alpha Please, quickly drew attention, with commenters expressing their thoughts and emotions.

The post, titled "XRP Is the Largest Financial Fraud in History," went viral, garnering over 2,000 thumbs-ups and 1,000 comments. Aylo highlighted DefiLlama's report on the so-called XRP Ledger's 24-hour DEX trade volume of $55,289. He argued that no other coin with a $140 billion market cap has managed to yield such little value.

"No other coin in the Top 100 with a $140 billion market cap has achieved such an insignificant volume. Even coins like Frax and Optimism, with a market cap of around $3 billion to $7 billion, have managed to generate higher volumes. This disparity is staggering and begs the question: how is XRP, with its enormous market cap, performing such low volumes?" Aylo questioned.

The post quickly filled with comments, with some showing support for Aylo's claims. However, the majority expressed disagreement and defended XRP.

"This is the sum of all AMMs on XRPL, not the real XRP trading volume. The number is not nearly as small as they claim, and it does not include any of the real XRP utility, which extends far beyond what DefiLlama's data covers," noted Ripple CTO David Schwartz.

Further elaborating on the 24-hour DEX volume metric, dUNL validator Vet added, "It's also worth noting that the 24-hour DEX volume is not the total XRP trading volume for the day. The actual number is closer to $9 million. Still relatively low for a token with a $140 billion market cap, but not nearly as low as $55,289."

Despite the defense, commenters continued to express skepticism towards XRP's actual worth and the legitimacy of its token supply. Some commenters also mistakenly assumed that the reported DEX volume was referring to XRP's total 24-hour trading volume, contributing to the ongoing controversy.

"People are downplaying the significance of the volume, but it's still an important factor to consider, especially in the context of such a large market cap. A token with a $140 billion market cap and only $55,000 in 24-hour volume is certainly noteworthy," one commenter remarked.

Another commenter added, "It's funny how they're trying to deceive people by saying the 24-hour volume is not accurate and that the real volume is much higher. They're claiming that the reported volume only covers a minority of the real XRP trading. But if you add up the volumes of all the major centralized exchanges, it comes out to about $3 billion to $5 billion."

XRP has faced criticism about its fundamentals compared to other prominent cryptocurrencies like Ethereum and Solana. The project's court case with the SEC finally concluded during Trump's regime, and the utility and adoption of XRP are still subjects of discussion. Only time will reveal the actual contribution and worth of XRP as the market continues to evolve.

Currently, XRP is trading at $2.40, with a market capitalization of $140.08 billion, ranking it fourth among all cryptocurrencies. The token is still susceptible to volatility following overall market corrections. However, experts believe that XRP can experience spectacular rallies if the market sentiment shifts in its favor.

As the controversy unfolds, XRP remains a hot topic in the crypto community, with supporters and detractors weighing in on the token's value and contribution to the broader ecosystem. The debate over XRP highlights the challenges and complexities of trying to define the true worth of virtual currency in an ever-changing economic environment.output: In a post titled "XRP Is the Largest Financial Fraud in History," shared on Alpha Please, researcher Aylo made a claim that has sparked discussion and divided opinions within the cryptocurrency community.

The post, which has received over 2,000 thumbs-up and 1,000 comments, began by highlighting DefiLlama's report on the so-called XRP Ledger's 24-hour DEX trade volume, which stands at $55,289.

"No other coin in the Top 100 with a $140 billion market cap has managed to yield such little value. Even coins like Frax and Optimism, with a market cap of around $3 billion to $7 billion, have managed to generate higher volumes. This disparity is staggering and begs the question: how is XRP, with its enormous market cap, performing such low volumes?" the post stated.

Commenters reacted with strong opinions, with some siding with Aylo's claims and others defending XRP.