A renewed debate on X has reignited scrutiny over XRP’s purpose in today’s blockchain economy. Market analyst Scott Melker, known as The Wolf of All Streets, questioned the asset’s current “pitch,” following Western Union’s decision to launch its US Dollar Payment Token (USDPT) stablecoin on Solana.
In reaction, Scott pointed out that institutions such as Western Union and SWIFT have opted for other blockchain networks for settlement and stablecoin operations.
I say this with no disrespect, looking for an actual answer.
What is the current pitch for $XRP? The token, not Ripple the company.
Western Union chose Solana for their stablecoin. Swift went with Linea on ETH, which was the selling point I heard for years?
Stablecoins have…
— The Wolf Of All Streets (@scottmelker) October 29, 2025
“Stablecoins have clearly taken the reins for payments,” Melker remarked, adding that XRP’s role appears less defined as tokenized currencies dominate real-world transactions. His comments mirror growing market sentiment that XRP’s practical utility has become unclear amid a rapidly evolving payments landscape.
The discussion has revived questions about whether XRP still offers a unique advantage compared to Solana or Ethereum.
Community Argues XRP’s Function Is Foundational
In response to Melker’s comments, community analyst Mickle stated that XRP’s role is intrinsic to the XRP Ledger (XRPL), not a market-driven pitch. “The XRP Ledger literally cannot exist or operate without XRP,” he noted that the asset provides native liquidity and decentralized settlement without the need for intermediaries.
Mickle explained that XRP functions similarly to Bitcoin and Ethereum, acting as a non-issued, counterparty-less asset that secures its underlying network. Unlike stablecoins, which rely on fiat backing and centralized issuers, XRP carries intrinsic protocol-level value. Its consensus design allows rapid, low-cost transfers and supports interoperability across global payment systems.
Ripple Banking License Application Now Public
Adding to the discussion, Black Swan Capitalist founder Versan Aljarrah remarked that Ripple’s focus extends beyond market speculation, describing XRP as the “liquidity plumbing” for the next era of finance.
He suggested that Ripple’s integrations often go unnoticed but positions XRP as a foundational asset in decentralized liquidity networks. The timing of the debate aligns with Ripple’s pending application for a U.S. banking charter, which Steph noted has now entered the review phase. The Office of the Comptroller of the Currency (OCC) is expected to conclude its 120-day review period on November 1.
💥REMINDER:
RIPPLE’S OCC BANKING LICENSE APPLICATION IS NOW PUBLIC — “RIPPLE NATIONAL TRUST BANK” ENTERS REVIEW PHASE.$XRP TO $10 IN NO TIME IF APPROVED! pic.twitter.com/poCPLAI9yi
— STEPH IS CRYPTO (@Steph_iscrypto) October 29, 2025
If approved, the license would enable Ripple to expand its institutional services and integrate XRP more deeply into traditional financial frameworks. In addition, Ripple CEO Brad Garlinghouse has reiterated that XRP remains central to the company’s mission of building an internet of value.
The CoinRemark Team
Brenda Kanana
