Expert Advises Community Against Referring to XRP as “Ripple’s XRP”

John Deaton calls for a more accurate representation of XRP, advising against referring to it as “Ripple’s XRP.”

The prominent attorney known for his XRP advocacy has recently expressed his hopes about how the crypto market participants should refer to XRP without ascribing the digital asset to Ripple.

In a tweet on Tuesday, Deaton addressed a common misconception regarding how people say “Ripple’s XRP” when referring to the digital asset. Deaton emphasized the need for a more accurate portrayal. 

“It will be cool when XRP is only referenced as XRP instead of ‘Ripple’s XRP,’” the pro-XRP lawyer stated.

It will be cool when XRP is only referenced as XRP, instead of “@Ripple’s XRP.” To be fair to Guy, Ripple does own a lot of XRP, although it is now under 50%. I don’t believe Ripple had anything to do with this announcement or the integration so, maybe one day, the reporting will… https://t.co/FeDawtknZr

— John E Deaton (@JohnEDeaton1) October 17, 2023

– Advertisement –

Notably, this clarification came after a renowned crypto influencer dubbed “Coin Bureau Guy” made a clip to share a favorable development concerning XRP. In the video, he said, “Ripple’s XRP has received yet another bit of good news” before highlighting a recent XRP integration as payment.

Coin Bureau’s proclamation subtly passed a message that Ripple owns and controls XRP, which is false. In the clarification statement, the pro-XRP lawyer doubted Ripple’s involvement in the XRP payment integration. 

Therefore, Deaton stated that it is more factual for the presenter to report the development as “good news for XRP and XRP holders” without involving Ripple. Besides, Deaton highlighted that while Ripple holds an overwhelming volume of XRP, it does not imply Ripple created and owns XRP.

Similarly, a notable XRP influencer, Moon Lamba, weighed in on the conversation. He explained that “Ripple’s XRP” should only be used when referring to the XRP in Ripple’s portfolio. He noted that using the term otherwise would convey false information.

Meanwhile, Moon Lamba acknowledged that some individuals might use the terminology out of ignorance or unintentionally. He expressed that a correction just as Deaton did for Coin Bureau is appropriate.

However, “if someone is corrected multiple times, but they keep saying it, that means they want to frame it that way,” Moon Lamba added.

Ripple and XRP

As the prominent figures in the crypto community have pointed out, Ripple is a separate entity from XRP. Ripple is a blockchain payment firm based in San Francisco, while XRP is the native token of the XRP Ledger blockchain. 

 Emphatically, Ripple is one of the many payment firms building on the XRPL, using XRP as a bridge currency.