Chainlink Critic Sparks Debate Over XRP Ledger's Purpose

Chainlink's Zach Rynes sparked controversy when he called the XRP Ledger an 'obsolete ghost chain' due to its low market share of tokenized real-world assets and stablecoins. He claimed that XRPL lost the utility race it was supposed to win.

Ripple's Chief Technology Officer, David Schwartz, responded by saying that Rynes' argument is logically flawed as it ignores the true purpose of XRPL: moving value cheaply and fast across borders, not hosting every category of on-chain asset.

Blockchain analytics firm Bitquery analyzed over 5 billion XRPL transactions from 2013 to September 2026 and found that just 793 accounts generated 93.2% of the network's transaction volume in August, with 767 of those accounts being flagged as automated.