When Arthur Britto, Chris Larsen, Jed McCaleb, and Ryan Fugger began to work on the Ripple a couple of years ago, they focused on the goal. The aim is to create a reliable and cost-effective blockchain platform that would compete with the banking protocol SWIFT. The founders began working on the blockchain in 2004, but they initially launched in 2012. Ripple became stable in 2018 after the launch of layer 1.0.0. David Schwartz becomes Ripple’s CTO the same year, and he has held the position since then. The global XRP Community maintains Ripple Network’s ledger. Ripple, the blockchain protocol, is an active member.

RippleNet is the 4th largest blockchain market commanding a market cap of about $11,278,014,906. It has a 24-hour volume of $6,029,324,919, which translates to around 389,848 BTC. There are currently 45,284,665,028 XRP circulating the markets out of a total supply of 99,990,862,913 XRP. The maximum supply of XRP is capped at 100,000,000,000 XRP. Investors who invest in the project at its initial stages can smile to the bank with a whopping 4,139.94% ROI.

Despite the performance, XRP is considered to have underperformed in a couple of recent years. Experts warn the blockchain network that if they do not work hard, protocols like Chain Link, currently ranking 6th with a market cap of about 4.38 billion dollars, might overtake RippleNet. There are widespread concerns over Ripple’s performance. Investors are seeking answers for the network’s underperformance in the last few months when compared to Bitcoin (BTC).

2020 has proven to be a tough year for the blockchain protocol. David Schwartz, Ripple’s director of technology, recently took to Twitter to discuss with community members why banks are reluctant to accept XRP as a bridge. During a Twitter exchange with a member of the Ripple community last week, the director explained that there are several stabbing blocks in the adoption of XRP by banks. Also, other financial institutions are reluctant to incorporate Ripple into their payment systems.

Schwartz twits that he sees issues such as “organizational uncertainty, last-mile problems, fear of retaliation against current partners” that prevent widespread adoption of the 4th largest cryptocurrency in terms of market cap.

Ripple’s technology director also said another reason banks are reluctant to accept XRP widely is that the product is so new, and it will take longer to get a boost. The comments came against the backdrop of a tough situation for the blockchain protocol and its owners. XRP is 18.6% down for the year and is more than 90% below the all-time high price of $3.84 in Jan 2018.

The troubles continue. PayPal has not included XRP in the list of cryptocurrencies it can offer. PayPal’s new crypto service incorporates several digital assets allowing its 300 million customers to purchase items and receive payments for goods and services using Bitcoin, Ethereum, Litecoin (LTC), and BTC or Bitcoin Cash. In addition to PayPal’s snob, Ripple is facing intellectual property lawsuits in Australia over its payment standard with the PayID tag.

All is not lost for the Ripple community and investors. Through its report published on October 15th, 2020, the network projects feature growth in blockchain payment systems‘ adoption. The blockchain is also keen on reducing its environmental impact. It has also undertaken the issue of leveraging renewable energy through a partnership deal with EW Zero to convey sustainable solutions across the blockchain. “Love that crypto is going mainstream, but the environmental impact went way up, esp if you only support energy heavy assets. XRP was built specifically to use negligible amounts of energy. In good news, there’s a tool to decarbonize emissions for ANY blockchain.” Ripple’s OCT tweeted.