Ripple's XRP Token Defended Against Criticisms from Cardano Founder

Max Avery, a well-known crypto commentator, has weighed in on recent criticisms of Ripple's XRP token from Charles Hoskinson, founder of Cardano. In a public response, Avery addressed specific points made by Hoskinson that have been disputed by the XRP community.

Hoskinson had claimed that Ripple dumps XRP whenever it wants, that XRP holders have no ownership stake in Ripple Prime or RSLUSD, and that there is no staking yield for XRP holders. He also argued that Ripple's business activities create no meaningful benefit for token holders.

Avery countered these claims by noting that XRP holdings are locked in an escrow system with a fixed monthly release schedule, which has been publicly verifiable on-chain for years. This contradicts Hoskinson's assertion that Ripple can dump XRP at will.