As Ripple continues to expand its business partnerships, complaints have been raised that those gains are not being reflected in XRP itself.
On Oct. 15, blockchain media outlet The Crypto Basic reported that XRP influencer John Squire urged Ripple CEO Brad Garlinghouse to ensure partnerships translate into tangible benefits for XRP holders.
The reaction came after Ripple announced a collaboration with global brokerage services platform DriveWealth. The two companies said they would focus on advancing digital asset infrastructure. The areas include payments, settlement, custody and institutional financial services.
In a post on X, formerly Twitter, Squire said the XRP community is watching Ripple’s partnership announcements but XRP itself is not benefiting. He said, "XRP investors are tired," adding, "We believe in the Ripple vision, but people need to see that progress reflected in XRP’s price. Hope needs results, Brad."
The issue echoes long-running complaints among XRP holders. XRP is trading at around $1.34 and has fallen about 2.9 percent over the past seven days. It touched $1.70 in August but has since dropped more than 20 percent.
Complaints about the long-term price trend have also continued. XRP has not exceeded $3.84 for nearly 10 years. As Bitcoin has risen to the $100,000 range, dissatisfaction has grown that XRP has yet to enter a full-fledged price discovery phase.
Still, Ripple’s latest partnership is not without significance on the business side. DriveWealth plans in Europe to settle payments using Ripple USD (RLUSD) on the XRP Ledger (XRPL). It also plans to use Ripple Payments to help DriveWealth’s global partners handle cross-border remittances more efficiently.
The collaboration also includes custody and financial services. Ripple will support DriveWealth’s digital asset custody needs in Europe, and the two are discussing plans to expand to other markets later. They are also reviewing fundraising opportunities through Ripple Prime, which provides services related to U.S. stocks and equity derivatives.
DriveWealth customers will be able, through the collaboration, to fund accounts with stablecoins, manage collateral and then convert immediately to cash. The idea is to reduce reliance on traditional bank transfers. DriveWealth CEO Naurin Hasan said the company already offers 24-hour trading five days a week, and now wants the payment system to operate just as efficiently.
The problem is that such partnerships do not automatically translate into demand for XRP. The collaboration includes RLUSD, Ripple Payments, digital asset custody and financial services discussions, but it is not structured so that XRP is used directly in every transaction. RLUSD and XRP are separate assets, so an expansion of RLUSD-based payments does not immediately mean an increase in demand for XRP.
As a result, market attention is focused on how Ripple’s expanding corporate network will be linked to XRP going forward. XRP holders are continuing to watch whether Ripple’s business results translate into the token’s market performance.
XRP COMMUNITY IS TIRED @bgarlinghouse, we’ve spent years watching Ripple announce partnership after partnership. Yet morale across the XRP community is at rock bottom. We believe in the vision, but people need to see that progress reflected in XRP itself. Hope needs results, Brad.