Ripple, the corporate behind main cryptocurrency XRP, is dealing with neighborhood backlash after on-line entrepreneur Andrei Jikh raised questions over the corporate’s initiatives and transparency.

Jikh took to X on Wednesday to voice his a number of considerations about Ripple, together with the dearth of verifiable on-chain information to help the corporate’s declare of securing over 300 financial institution partnerships in its 13 years of operation.

Ripple’s chief know-how officer David Schwartz promptly joined the X thread, addressing all six questions raised by Jikh to defend the corporate’s method to transparency, on-chain information and institutional adoption.

“I think there are a number of reasons why institutions have historically preferred to use digital assets off-chain rather than on-chain,” Schwartz wrote, highlighting that even Ripple doesn’t use decentralized transactions on its XRP ledger (XRPL).

Ripple CTO admits on-chain adoption is sluggish

Though highlighting institutional preferences to remain off-chain, Schwartz recommended that this pattern is “close to changing” as a result of “institutions are starting to see the benefits of moving on chain.”

“But I agree it has been very slow,” he mentioned, reasoning Ripple’s option to not depend on the XRPL DEX for funds due considerations associated to terrorism financing.

“We can’t be sure a terrorist won’t provide the liquidity for payment,” Schwartz mentioned.

He additionally talked about that options like “permissioned domains” might be a device to handle this challenge, however didn’t elaborate on how this might be an answer.

What’s the XRPL, and the way large is it?

Launched in 2012, the XRPL is a decentralized, open-source blockchain that serves as the inspiration for the underlying cryptocurrency XRP (XRP).

Positioned by Ripple as “decentralized public blockchain built for business,” XRPL has been on the middle of a rising variety of enterprise partnerships. These embody tokenization initiatives with the Dubai authorities and US funding agency Guggenheim, each introduced in June 2025.

Regardless of rising institutional curiosity, there may be nonetheless an absence of clear, on-chain monitoring instruments to point out how these partnerships are translating into precise transaction quantity on the XRPL community.

Platforms like DefiLlama report solely $81.8 million in complete worth locked (TVL) on XRP Ledger decentralized finance (DeFi) functions, however in line with Schwartz, most institutional exercise occurs off-chain and thus stays untracked.

Ripple reported a 30%–40% drop on XRPL in Q1

After a interval of serious development all through 2024, on-chain exercise on the XRPL declined within the first quarter of 2025, Ripple formally reported in Might 2025.

“There was a 30–40% decline in both new wallet creation and overall transaction volume on XRPL — in line with activity contractions seen across major blockchains like Bitcoin and Ethereum,” Ripple mentioned, with out specifying the precise figures.

The report additionally talked about that XRPL’s “DeFi activity proved to be more resilient than other segments,” as decentralized change quantity solely decreased by 16% quarter-over-quarter.

Ripple winds down XRP Markets Report in present kind

In the identical quarterly report, Ripple talked about that the corporate determined to sundown the report in its present kind beginning in Q2 2025.

“While the report is evolving, Ripple will continue to be transparent and share relevant updates on Ripple and XRP-related announcements through its official channels, including Ripple and RippleXDev […],” the corporate mentioned, including:

“As more institutions engage with XRP, additional perspectives and insights are expected to follow, pushing the market conversation forward.”

Cointelegraph contacted Ripple for remark concerning monitoring the XRPL volumes however didn’t obtain a response by publication.