Ripple, the company behind the major Cryptocurrency XRP, faces community backlash after online businessman Andrei Jikh has raised questions on the company’s projects and transparency.
Jikh took to X on Wednesday to express his many concerns about Ripple, including the lack of proven On-chain data To support the claim of the company’s securing more than 300 bank partnerships in 13 years of operation.
Ripple’s chief technology official David Schwartz immediately joined the X thread, responding to all the six questions Jikh raised to defend the company’s approach to transparency, on-chain data and institutional adoption.
“I think there are so many reasons why institutions prefer to use digital off-chain assets instead of on-chain,” Schwartz wrote, featured that even the ripple did not use decentralized transactions on them XRP Ledger (XRPL).
Ripple CTO admits on the adoption of on-chain is slow
Although highlighting institutional preferences to remain off-chain, Schwartz suggested that this trend “close to change” is because “institutions are beginning to see the benefits of moving to the chain.”
“But I agree that this is very slow,” he said, Ripple’s choice not to rely on XRPL DEX for payments due to concerns related to terrorism financing.
“We are not sure that a terrorist will not provide liquidity for payment,” Schwartz said.
He also noted that features such as “Domain Permissions” can be a tool to address this issue, but it is not detailed how this can be a solution.
What is XRPL, and how big is it?
Launched in 2012, XRPL is a decentralized, open-source blockchain serving as a foundation for the underlying Cryptocurrency XRP (XRP).
Ripple positioned as the “decentralized public blockchain built for business,” XRPL is in the middle of a growing number of business partnerships. It includes Tokenization initiatives with Dubai Government and US investment company GuggenheimBoth announced in June 2025.
Despite increasing institutional interest, there is still a lack of transparent, on-chain monitoring tools to show how these partnerships translate into the actual volume of transactions on the XRPL network.
Platforms like Defillama Report $ 81.8 million only in total amount locked (TVL) on XRP Ledger Decentralized Finance (DEFI) Applications, but according to Schwartz, most institutional activity occurs off-chain and thus remains unopened.
Ripple reported a 30% -40% collapse in XRPL in Q1
After a period of significant growth throughout 2024XRPL on-chain activity refused the first quarter of 2025, Ripple officially reported in May 2025.
“There was a 30-40% decline in both the new purse creation and the overall volume of the XRPL transaction – in accordance with the contracting of activity seen in major blockchains such as Bitcoin and Ethereum,” Ripple said, without specifying the actual numbers.
The report also noted that “XRPL’s defi activity has proven to be more resilient than other segments,” as decentralized exchange volume has only reduced by 16% quarter-over-quarter.
Ripple Winds Down XRP Markets reports in current form
In the same quarterly report, Ripple mentioned that the company decided to sink the report in the current form starting with Q2 2025.
“As the report is emerging, Ripple will continue to be clear and share relevant Ripple updates and announcements associated with XRP by its official channels, including Ripple and RipplexDev (…),” said the company, added:
“As more institutions interact with the XRP, it is expected to follow additional insights and insights, pushing the market communication.”
Cointelegraph contacted Ripple for a comment on monitoring XRPL volumes but did not receive a response by publishing.
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