Chainlink Official Warns: XRP Ledger Now a ’Ghost Chain’ as Investment Thesis Fails
A senior Chainlink representative has issued a stark warning to the cryptocurrency market, declaring the XRP Ledger a 'ghost chain' whose core investment thesis has collapsed. In explosive comments that triggered immediate backlash from XRP defenders, Chainlink Community Liaison Zach Rynes argued that stablecoins and modern interoperability infrastructure have completely overtaken XRP's proposed role as a bridge asset, rendering its long-touted 'XRP standard' vision obsolete.
XRP Community Fires Back
Not everyone in the thread accepted that framing. XRP advocate and lawyer Bill Morgan pushed back on Rynes’ comparison between token buybacks and equity buybacks, calling it “a false equivalence because a token is nothing like a share and has no rights attached it like a share.” He also rejected the idea that Ripple and XRPL should be treated as one and the same, writing that “Ripple does not own the XRPL which is a fully decentralised public permissionless Blockchain.”
Morgan argued that Ripple had opted for a different structure through Evernorth, which he described as an independent vehicle designed to acquire XRP and offer institutions regulated exposure. He said that model was preferable to Ripple itself running a reserve that could draw regulatory scrutiny, especially given how the SEC previously pointed to Ripple’s efforts to support XRP’s price in litigation.
At press time, XRP traded at $1.4757.
