XRP Called ‘Ghost Chain’ by Chainlink Ambassador
XRP called memecoin by Chainlink community voice Zach Rynes has reignited a sharp debate across crypto social media, and a point-by-point XRP fact check from crypto commentator Diana now pushes back using public blockchain data. Rynes posted on X labeling XRPL a ghost chain and XRP a “bank-themed memecoin,” arguing that token holders fund Ripple’s growth while getting nothing back. The XRPL ghost chain claims drew a fast response, and the numbers Diana laid out complicate that picture quite a bit.
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XRPL Memecoin Claims Vs XRP Fact Check And Adoption
XRP Called Memecoin and Ghost Chain: Who Said What
Rynes built his argument around the idea that Ripple serves equity shareholders first, leaving XRP holders with no enforceable claims on profits or corporate growth. The XRP called memecoin framing also pulled in Pierre Rochard (@BitcoinPierre), who jumped into the XRP memecoin debate on X and stated:
“XRP isn’t a security because Ripple doesn’t actually owe you ‘utility’ or anything else. They are free to dump on you and you have no right to do anything about it other than join them in dumping XRP. That’s why XRP is not a security.”
Ripple CTO David “JoelKatz” Schwartz replied directly to Rochard:
“100% correct. IMO, Ripple can, will, and should act in its own interest. You should not expect Ripple to act in your interest to the detriment of its own interest or those of its shareholders.”
That exchange captures exactly what the XRP called memecoin story keeps circling back to — the gap between what Ripple owes its shareholders and what XRP holders can actually expect.
The Numbers Behind the XRP Fact Check
Diana’s XRP fact check went through each of Rynes’ XRPL ghost chain claims one by one. On the XRP called memecoin and ghost chain label, she wrote:
“Public RWA data shows XRPL has about $1.42B in represented asset value right now, plus about $404M in stablecoin market cap. That is not ‘ghost chain’ territory.”
She also tackled the claim that XRP’s bridge currency role no longer matters:
“XRPL still officially supports auto-bridging, where $XRP is used as the intermediary asset when that route is more efficient. That is not a fantasy theory — it is literally part of how the XRPL DEX works.”
At the time of writing, XRPL also ranks second only to Ethereum in tokenized commodities at around $1.14 billion. XRP called memecoin doesn’t sit easily next to a network posting those kinds of numbers, and the XRP called ghost chain variation holds up just as poorly against this data.
RLUSD, Rankings, and What the Memecoin Debate Really Comes Down To
On RLUSD’s chain split, Diana addressed the claim that Ripple doesn’t actually rely on XRPL:
“$RLUSD is currently larger on Ethereum than XRPL — about 79.71% on Ethereum and 20.29% on XRP Ledger on the RWA.xyz platform view. But that does NOT prove XRPL is abandoned. It proves rollout and exchange support have leaned heavily toward Ethereum so far. That is VERY different from saying XRPL is irrelevant.”
The “not top 40” line from the XRP debate also fell apart — the dataset Rynes referenced tracks 33 networks, not 40. Diana went further and argued that XRP called memecoin misses the real point entirely:
“What he is really doing is trying to blur the line between owning equity in Ripple and holding XRP as a network asset — as if those are supposed to be the same thing. THEY ARE NOT.”
Is XRP a buy while XRPL ghost chain claims keep circulating? The XRP fact check makes a strong case that the data supports neither tag. With XRP called memecoin turning into a recurring attack line, the distance between that narrative and what the on-chain numbers actually show keeps growing.
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