Somehow, these Ripple magicians created a digital currency with the hybrid characteristics of a centralized fiat. Instead of XRP, it should be called MC for MuttCoin.
XRP has no utility value. They use a private chain for God's sake. As such, control is centralized by their own little private consortium. The value is a pure mirage and event driven by news about the Ripple protocol, of which it has no connection other than name and the people behind both ventures.
Let's see, as the price goes up, when they dump the other 40% and see what that does to the price.
Now I get it.
The name Ripple is a condensed form of "Rip People Off".
Perhaps people want a centralized token? but at that point, why not just use paypal.