XRP News Today: XRP ETF Launches with $58M, Challenging Skeptics of Blockchain Utility
Matthew Sigel, who leads digital asset research at VanEck, has sparked renewed discussion about XRP's practical value by sharply questioning the altcoin's blockchain, saying he "may never grasp what your 'blockchain' is actually for"
In response, the XRP community has pointed to recent institutional uptake and clearer regulatory guidelines as evidence of the asset's increasing credibility. Canary Capital's launch of a spot XRP ETF on November 14
Even with the ETF's impressive debut, XRP's value has dropped by 5% over the last day, mirroring the broader market's instability.
Sigel's doubts also extend to XRP's economic structure, arguing that there is no clear connection between the token's price and its adoption. He compared XRP's development to Bitcoin's widespread institutional acceptance, noting that 12 nations now mine
At the same time, new projects are being launched to strengthen XRP's network. LCPC AI has introduced a blockchain contract initiative for XRP, utilizing AI-powered automation to improve scalability and transparency
This ongoing debate highlights a wider gap between institutional analysts and the crypto community. While Sigel's remarks have been labeled as "disregarding years of progress," XRP backers stress the project's technical achievements and growing range of applications
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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