- XRP supporters, including attorney John Deaton, condemned the criticism of Ripple, with Ripple CTO David Schwartz highlighting a quote, “If you go after the king, you might as well not miss.”
- The conflict has led to a 4.02% drop in XRP’s price in one day, though it remains up 10.80% over the past week.
Social media tensions erupted for a second time between XRP holders and Stellar XLM supporters when Build on Stellar posted such content. Fans of Ripple reacted negatively to the post because it referred to Ripple’s present legal disputes with the U.S. Securities and Exchange Commission (SEC). XRP holders interpreted the post as purposeless agitation because it rekindled ancient competition between the two blockchain systems.
XRP Community Responds To Criticism
Selections from the XRP community delivered an immediate, strong condemnation of the given content. The XRP holder class-action lawsuit against the SEC gained support from attorney John Deaton, who dedicated his efforts to protect SEC defendants as their legal representative. With no reservations he demonstrated his viewpoint that established a clear contradiction between reality and expectations.
David Schwartz, who holds the position of Chief Technology Officer at Ripple, provided his response during this discussion. Schwartz delivered a statement that would later become the motto of all XRP supporters: “If you go after the king, you might as well not miss.”
Jed McCaleb received criticism from Deaton, who had co-founded Ripple alongside him before leaving to start Stellar, as mentioned in our previous article. McCaleb kept selling XRP after separating from Ripple’s legal battles but he continued making profits through his XRP sales. From the court battle which Ripple funded with $150 million, Deaton showed how McCaleb made $2 billion by selling XRP holdings after he left the company.
The rivalry between Ripple and Stellar has existed throughout time. McCaleb left his role at Ripple in 2013 to found Stellar which he designed to serve as a financial blockchain platform for inclusion and micropayments. Ripple dedicated itself to delivering big enterprise solutions for global payment transactions.
Ripple and Stellar established separate market targets purposefully to stay out of each other’s way despite their shared goal of changing the financial sector. Throughout the years their competitive relationship has continued despite the releases of new technological developments.
In 2023, questions resurfaced about why the SEC did not include McCaleb in its lawsuit against Ripple. This fueled further speculation and debate within the XRP community. Many believe McCaleb’s departure and subsequent success with Stellar allowed him to avoid the legal scrutiny Ripple has faced.
Ripple vs. Stellar: Strategic or Personal?
The Build on Stellar post has led many in the Ripple community to question its intent. Was it simply an offhand remark, or was it deliberately designed to provoke Ripple supporters? Given the long-standing history between McCaleb and Ripple, some suspect it was more than just a coincidence.
With tensions continuing to rise, the price of XRP has reflected the market’s reaction. The token experienced a 4.02% decline in the past day but showed a 10.80% increase over the past week, bringing its current trading price to $2.39. Whether this latest clash will escalate further remains uncertain, but it is evident that the divide between Ripple and Stellar is far from over. Investors are still bullish about the Ripple cryptocurrency as the race for getting the first XRP ETF heats up, per the previous CNF report.
