A notable figure within the XRP community, known as XRP Investing, has weighed in on rumors suggesting a hidden XRP Ledger (XRPL). This individual has also disputed claims that the value of XRP is currently being traded at a staggering $1,000 on this supposed private network.
Insights Into The Secret Ledger
As a crypto investor, I’ve come across discussions suggesting that there exists a covert version of the XRP Ledger where banks anonymously transfer billions without raising eyebrows. However, I find it important to clarify that this isn’t mere speculation or a conspiracy theory. In fact, what was announced by Ripple in 2021 as the private iteration of the XRP Ledger is known as the ‘CBDC Private Ledger.’ This isn’t just the public XRPL hidden under wraps; it’s an entirely separate entity designed to cater to specific needs within the banking sector.
XRP Investing explained that the cryptocurrency company developed a private XRP Ledger designed primarily for central banks. They asserted this ledger was made private to cater to the banks’ needs for privacy, compliance, and control. This system allows central banks to issue Central Bank Digital Currencies (CBDCs) without disclosing their data or using XRP. A community member further noted that the CBDC Private Ledger is designed for wholesale and retail digital currency transactions, rather than public cryptocurrency trading.
Simultaneously, he stated that Ripple acknowledged the authenticity of this XRP Ledger and maintained it separately from the general XRPL. Notably, Ripple’s XRP isn’t utilized on the private ledger whatsoever. In fact, in 2021, Ripple published a blog post unveiling the initial stage of a privately managed version of the public and open-source XRP Ledger.
The cryptocurrency company announced that their exclusive adaptation of the XRP Ledger offers central banks a safe, regulated, and adaptable platform for the creation and administration of digital money.
The crypto company declared that the private version of the XRP Ledger they’re providing gives central banks a secure, controlled, and flexible system to issue and manage digital currencies.)
Ripple stated that this particular version of the XRPL was made private due to the need for greater transaction privacy and control by central banks over their currency, compared to what public ledgers can provide. Given these requirements, it’s likely that central banks would prefer to establish their Central Bank Digital Currencies (CBDCs) on a private network, as they can also manage them efficiently at scale.
XRP Price Differences On The Two Ledgers?
In a recent discussion, investing in XRP was clarified regarding unfounded claims of a separate price on the private XRP ledger at $1,000. It was emphasized by the speaker that these were merely baseless rumors, as Ripple’s Chief Technology Officer (CTO), David Schwartz, had already debunked such speculations. Therefore, it is important to note that there is no dual pricing for XRP on both ledgers, and the private ledger does not utilize XRP.
He pointed out that this advancement is significant because it demonstrates that Ripple’s private XRP Ledger isn’t just a copycat, but a genuine application for XRPL technology. A community member further stated that this puts the crypto company at the center of potential CBDC infrastructure, which he suggested is optimistic. This could potentially increase XRP’s popularity in the future if these banks choose to employ the native token for transactions.
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2025-05-03 02:14