ZachXBT Criticizes XRP Holders, Calls Ripple “Cheap”

Key Notes

• ZachXBT says Ripple no longer funds public goods for its community.
• Analysts continue to raise concerns about XRP’s centralization.
• Chris Larsen’s large XRP transfers have fueled insider-dumping allegations.

Crypto sleuth ZachXBT has once again taken aim at the XRP

XRP $3.02

24h volatility: 0.7%

Market cap: $179.66 B

Vol. 24h: $6.82 B

community, stating that American fintech Ripple no longer funds initiatives that provide meaningful guidance to its users.

Responding to a news outlet on social media, he advised XRPL scam victims to file an IC3 report and track stolen funds through exchanges because Ripple is unable to help its community.

Self-Custody is the Way: ZachXBT

He added that managing assets via self-custody is not simple for most people and requires a stronger understanding of scams and industry risks.

He stated that Ripple has become “cheap” in its approach, reducing support for public goods compared to other blockchain projects.

This, he argued, leaves XRP investors without adequate protection or resources in a sector already filled with scammers due to lack of regulatory guardrails.

Criticism of XRP Is Not New

This is not the first time XRP has faced scrutiny. Crypto researcher Justin Bons has repeatedly criticized Ripple’s control over the Unique Node List (UNL), arguing that it centralizes validator influence.

Bons also highlighted the absence of incentives for validators and XRP’s heavily pre-mined structure (99.8% of the supply was allocated at launch), leaving insiders with disproportionate control.

Analyst Rajat Soni shared similar concerns, warning that Ripple’s ownership of nearly half the total supply raises red flags around price manipulation.

In 2024, Forbes went as far as to label the XRP Ledger a “zombie chain,” arguing that despite low fees, it contributes little to global payments when compared to established systems like SWIFT.

Related article: XRP Price Action Largely Correlated to Bitcoin, What Will Happen Next?Last month, Fred Krueger, a veteran Wall Street trader and former arbitrage expert at Salomon Brothers and Greenwich Capital, said that XRP has no real-world use.

Despite all the criticism it has received, the token is up more than 420% in the past year, making it a top crypto to buy in 2025.

Chris Larsen’s $175M Transfer

Meanwhile, ZachXBT recently flagged a $175 million XRP transfer by Ripple co-founder Chris Larsen. The sale, timed shortly after a price peak, led to speculations of insider dumping.

Despite the transfer, Larsen still controls roughly 2.81 billion XRP. He stepped down as the CEO of Ripple in 2016 and also contributed to political donations in 2024.

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