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A fresh discussion around XRP has started again after Steven McClurg, Founder and CEO of Canary Capital, shared his views on the recent XRP ETF and why he thinks XRP should not be compared directly to Bitcoin or Ethereum. Instead of talking about price movements, he focused on the real-world purpose behind the XRP Ledger and what it was built to do.

A Digital Payment Rail, Not Just Another Crypto Coin

On Crypto Prime, McClurg explained that the XRP Ledger was designed to operate as a global financial network where money can move quickly and at low cost. He compared its function to modern versions of Western Union or international bank wiring systems. 

According to him, many workers in foreign countries send money back home every month and end up paying very high fees, sometimes between 8% and 15%. This, he said, is like a hidden tax on hard-working families. He believes technology like the XRP Ledger can reduce this burden and become very useful in the global economy where speed and affordability matter the most.

A Community Filled With Passion and Debate

He also acknowledged the strong reactions that XRP often receives online. The XRP community is known for being extremely passionate, while critics continue to raise questions about centralization, Ripple’s coin holdings, and the level of real usage outside of cross-border finance. Some also argue that stablecoins may already solve many of the problems XRP tries to address.

Why Centralization Is Not Always a Negative Word

McClurg replied by saying that complete decentralization can sometimes create its own risks. He gave the example of Bitcoin, where the user has full control of funds but can lose everything permanently if private keys are forgotten. 

He said this is not always suitable for ordinary workers who are sending small amounts each month to support their families. According to him, the world needs a mix of systems, from fully decentralized platforms to more user-friendly networks where help and recovery options exist.

The Role of Stablecoins 

When the topic shifted to stablecoins, McClurg agreed that their growth has been impressive. However, he pointed out that network fees and congestion remain problems on some blockchains. Ripple recently introduced its own stablecoin, RLUSD, which runs on the XRP Ledger and is designed to move faster and cheaper than some existing options. He said this may help expand real adoption in the future.

Conclusion

According to McClurg, XRP should not be viewed simply as another cryptocurrency competing for market price attention. He believes the true story lies in its use case as a global financial tool that can help people move money safely, quickly, and affordably.