Leading Developer At Ripple Makes A Case For ‘Boring’ XRP Ledger As More Projects Struggle With Withdrawals

WietseWind says boring is good.

XRPL developer WietseWind, in a tweet on Monday, has urged the crypto community to consider that boring is good; according to the developer, XRPL and its Xumm Wallet offer no bells and whistles like staking and yields, but also there are no worries about things like withdrawal limits.

“The XRP Ledger is boring. @XummWallet is boring. No staking. No yields. No magic rainbow unicorn internet money. Also: high speed. No fees. No withdrawal limits. No redemption curbs. No lock-ups. With all the recent platforms limiting withdrawals: choose wisely. Choose boring,” tweeted the developer.

The XRP Ledger is boring. @XummWallet is boring.

No staking. No yields. No magic rainbow unicorn internet money.

Also: high speed. No fees. No withdrawal limits. No redemption curbs. No lock ups.

With all the recent platforms limiting withdrawals: choose wisely. Choose boring.

— WietseWind – ? XUMM @ XRPL Labs (@WietseWind) July 4, 2022

WietseWind’s tweet comes as more crypto lending platforms and projects fold under the pressure of the crypto bear market. A number of these platforms, unable to meet up with promised returns, have either placed limits on withdrawals or halted withdrawals altogether. The latest one is Vauld, a crypto lending platform, and exchange backed by Coinbase and Pantera Capital.

Meanwhile, as previously reported by The Crypto Basic, XRP has been building steadily during this period. In addition, at the beginning of the month, the company launched Clio 1.0, an XRPL upgrade for improved scalability and efficiency. Consequently, these efforts and increased on-chain activity have seen the network hold up better than most in the current bear market.

Notably, the former top 3 crypto asset by market cap has been tied down in a long legal battle with the US SEC since December 2020. However, with investors optimistic about the outcome, there has been a boost in XRP whale activity as a price pump is expected should Ripple win.

At the time of writing, XRP is up 2.81% in the last 24 hours, exchanging hands for $0.3273 on mainstream exchanges. It is the 8th largest crypto asset by market cap with $15.79 billion.

– Advertisement –