A prominent member of the XRP community, XRP Investing, has commented on the speculations that there is a secret XRP Ledger (XRPL). The community member also addressed theories that the XRP price is trading at $1,000 on this private ledger.
Insights Into The Secret Ledger
In an X post, XRP Investing stated that the claims that there is a secret version of the XRP Ledger where banks move billions anonymously aren’t a conspiracy. The community remarked confidently that besides the public XRPL, there is a ‘CBDC Private Ledger,’ which he claimed Ripple announced as the private version of the XRPL in 2021.
XRP Investing stated that the crypto firm built this private XRP Ledger specifically for Central Banks. He claimed that it is private because these banks demand privacy, compliance, and control. This Ledger enables them to issue Central Bank Digital Currencies (CBDCs) without exposing their data or using XRP. The community member added that the CBDC Private Ledger is tailored for wholesale and retail digital currency, not public crypto trading.
Meanwhile, he asserted that Ripple has confirmed that this XRP Ledger is real and isolated from the public XRPL. XRP Investing further remarked that XRP isn’t used on the private Ledger at all. Indeed, Ripple released a blog post in 2021, announcing the pilot phase of a private version of the public, open-source XRP Ledger.
The crypto firm stated that this private version of the XRP Ledger will provide central banks with a secure, controlled, and flexible solution for the issuance and management of digital currencies.
Ripple explained that it chose to make this version of the XRPL private because a Central Bank requires more transaction privacy and control over its currency than a public ledger can offer. As such, these banks would most likely opt to create their CBDCs on a private ledger, which they can also operate on a large scale.
XRP Price Differences On The Two Ledgers?
XRP Investing also addressed speculations that the price on the private XRP ledger is different and trading at $1,000. He noted that these were simply rumors that Ripple’s Chief Technology Officer (CTO), David Schwartz, had shut down. As such, there is officially no double pricing for XRP on both ledgers. The community member reiterated that the private ledger does not use XRP.
He noted that this development matters because it shows that Ripple’s private XRP Ledger isn’t just a clone but a real use case for XRPL technology. The community member added that this positions the crypto firm at the heart of future CBDC infrastructure, which he claimed is bullish. This could boost XRP’s adoption in the long run if these banks decide to use the native token to facilitate transactions.
Featured image from Adobe Stock, chart from Tradingview.com
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