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In the crypto universe, where every project dreams of replicating the pioneers’ successes, the illusion of easy replication remains strong. But some remind us that not all paths can be copied, especially when the irrational comes into play. While Ripple continues to surprise despite criticism, voices rise to warn that Ethereum will not be able to follow the same path. Between narratives, fundamentals, and market maturity, the debate ignites at the heights of the cryptosphere.
In brief
- Yakovenko believes that XRP follows an irrational dynamic that is impossible to copy.
- Omid Malekan denounces the immaturity of a market dominated by narratives and sentiments.
- Jon Charbonneau recalls that Ethereum must keep its fundamentals.
- Ripple is building a solid institutional infrastructure beyond the simple price of XRP.
Why the “XRP model” is unique according to Yakovenko
Anatoly Yakovenko, co-founder of Solana, did not mince his words: Ethereum will not be able to follow the “playbook” of XRP. In a striking post on X, he states:
Just because something irrational happens in the world does not mean it will happen to you, or that you can make it happen.
According to him, the success of XRP is not reproducible because it relies on dynamics that defy classical rational logic. XRP managed to capture value not through strict engineering or solid fundamentals, but through a combination of market sentiment, institutional adoption, and collective vibes.
Yakovenko points out with a touch of irony:
If you cannot model why XRP or BTC have value, you cannot design it, and therefore you cannot compete with it.
In other words, without deeply understanding why certain assets capture value despite their irrationality, it is illusory to think one can “imitate” their trajectory.
The “XRP model” belongs to a specific universe, shaped by its history, supporters, and unique ecosystem. Ethereum, with its own architecture and challenges, will have to find its path differently.
Immaturity of the crypto market: XRP, Ethereum, and the war of sentiments against fundamentals
The debate doesn’t stop there. Omid Malekan, associate professor at Columbia Business School, also added fuel to the fire by reminding that the crypto market remains “deeply immature“. According to him, the recent success of XRP proves that narratives, vibes, and sentiments still weigh much more than fundamentals.
In his X intervention, he emphasizes that XRP now surpasses Ethereum in Fully Diluted Valuation (FDV) despite the fact that “a corporation owns half of the supply“. A situation he describes as “maddening” for those who stubbornly analyze only through the prism of technical design or real revenues.
In response to this argument, Jon Charbonneau, co-founder of the investment fund DBA, replies:
Unique outliers do not mean that these rules apply to everyone Des valeurs aberrantes uniques ne signifient pas que ces règles s’appliquent à tout le monde.
He reminds us that the XRP exception does not justify abandoning the search for solid fundamentals. He compares this absurd logic to that of a CEO declaring:
GameStop and AMC exploded without profits, so we don’t need to make money either!
In this battle of ideas, Ethereum must, according to Charbonneau, stay true to its fundamentals to ensure its long-term legitimacy.
Ripple: from a controversial outsider to a crypto infrastructure giant
While the community debates, Ripple, the parent company of XRP, quietly charts its path to the top. The plan is clear, methodical, almost surgical.
According to an analysis published by All Things XRP, Ripple is heavily investing in pillars of the future:
- Institutional compliance: hiring experts in KYC, AML, sanctions, and regulations;
- Stablecoin deployment: focus on Ripple USD (RLUSD) and mention of future stable assets;
- Targeted global expansion: opening hubs in New York, London, Singapore, Zurich, and Dubai;
- Improvement of user experience: hiring designers, UX researchers, and client solutions.
Far from the hype surrounding memecoins and other ephemeral projects, Ripple is patiently building a serious crypto infrastructure ready to attract banks, financial institutions, and Web3 players.
All Things XRP states:
Ripple wants to become the invisible engine behind real-time, regulated, and transparent global payments.
This strategy reveals an ambition: to be the trusted gateway between traditional finance and blockchain.
Ultimately, Ripple does not just ride the “vibes”: it builds a cathedral where others erect only mirages.
The fate of Ethereum and XRP now seems to follow diverging trajectories. One clings to fundamentals, the other capitalizes on its unique positioning and institutional network. Perhaps in the crypto universe, there is no universal model: just singular paths, shaped by vision, perseverance, and sometimes, the irrational.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
