XRP's price performance over the years has consistently disappointed its supporters. Foreign media reports that Jesse, a researcher who has long studied the intersection of traditional finance and blockchain infrastructure, believes that XRP's prolonged sideways movement may not be accidental, but rather a sign of "price suppression." However, this statement remains his personal opinion and has not been confirmed.
Years of sideways trading have raised questions
The report noted that XRP rose to $3.84 during the 2018 bull market and briefly touched around $3.60 earlier in this cycle. However, for a longer period, its price has mostly remained range-bound. In contrast, Bitcoin has risen from thousands of dollars to the hundreds of thousands of dollars range.
In an interview, Jesse stated that it was "unreasonable" for XRP to maintain a similar price level for so many years, and therefore he tended to believe that the price might be under some kind of suppression. However, he also emphasized that this was just his personal opinion.
Connecting XRP with the Internet of Value
According to Jesse, XRP should not be viewed solely as a payment token. He argues that the internet first enabled the transmission of information, while current financial infrastructure is building a parallel "value transfer network."
Within this framework, he describes XRP as part of the “Internet of Value” and views Ripple’s Interledger Protocol as the underlying infrastructure for the flow of value, functioning similarly to the information transmission protocols in today’s Internet.
The viewpoints are based on publicly available documents.
Jesse believes that the key to his judgment lies not just in the concept, but in the clues found in publicly available documents. The report mentions that Citigroup used the concept of a "regulated internet of value" in a 2021 document. This term was later changed to "regulated debt network."
He speculated that the name change might be intended to downplay its direct association with Ripple. The report also stated that Citigroup executive Tony McLaughlin had indicated that a "regulated liability network" aligns with the concept of a shared ledger. Jesse further extended this line of thought to the Bank for International Settlements' "unified ledger" concept, which replaces the correspondent banking system with a new shared infrastructure, potentially even weakening Swift's existing role.
The core judgment remains at the level of speculation.
The article argues that if XRP is positioned as a neutral liquidation asset in the future global financial system, the market may be more inclined to maintain its price stability rather than allow it to fluctuate wildly like ordinary crypto assets.
Jesse also acknowledged that there was no direct evidence of "price suppression." His core logic was that if an asset is used by large financial institutions as a reserve or clearing layer tool, excessive volatility would not meet their needs. This is also the main reason he explained XRP's long-term lack of a sustained upward trend.
