Ripple Chief Technology Officer David Schwartz recently posted a topic of discussion on the social media site Twitter regarding the bank's refusal to use XRP as a cross-border transaction link.
According to him, the cryptocurrency is facing various issues and among them include the policy that has not yet been determined and concerns in competition with other products.
As a result, the use of XRP is seen as so limited and difficult to market more widely.
Clearly, the Ripple product is also the latest in the market and demands more time to achieve the appropriate momentum.
2020 saw an XRP depreciation of 18.6% and a decline of over 90% from the all-time high.
To make matters worse, Paypal in its recent cryptocurrency service offering did not include XRP as a user choice other than major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).
The Ripple firm is also facing a lawsuit for intellectual property in Australia in connection with a standard payment, PayID.
This situation has had a huge impact on all Ripple members, including its investors.
