Anodos CEO Shares Major What Drags XRP and XRP Ledger Behind

The CEO of Anodos Finance, Panos, has raised concerns about the XRP Ledger’s current performance, pointing to declining ecosystem metrics and a shortage of useful applications.

Although he remains bullish on XRP and XRPL over the long term, he believes the network needs stronger execution, deeper liquidity, and meaningful adoption to fulfill its potential. His comments also place greater responsibility on Ripple to use its resources and industry influence to support the ecosystem’s development.

In a lengthy post on X, Panos shared his perspective after more than a decade in the cryptocurrency industry and several years of building and contributing to the XRP ecosystem. He explained that supporting XRP’s long-term prospects does not require anyone to defend every decision or blindly support the people directing its future.

Panos Raises Concerns Over XRPL’s Performance

Panos confirmed that he remains bullish on XRP and XRPL in the long term. However, he expressed a different view of the network’s current direction and the decisions that shape its development.

He pointed to declining ecosystem metrics, including total value locked (TVL), liquidity, and trading volumes. The chart accompanying his X post showed that XRPL currently records approximately $5 million in daily decentralized exchange (DEX) volume and around $35 million in TVL.

Panos believes these figures should concern the community, considering XRPL’s history, industry connections, and access to resources. He questioned the network’s limited liquidity, lack of diverse applications, and shortage of compelling assets that ordinary users can access.

He also stressed that announcements and partnerships cannot establish adoption on their own. Integrations and tokenization initiatives must generate actual demand, attract users, and increase activity across the network. In his view, XRPL needs products that people actively use rather than another series of promises and promotional statements.

Ripple’s Success Does Not Guarantee XRP Growth

Panos also distinguished between Ripple’s success as a company, XRPL’s growth as a network, and XRP’s ability to capture value from that growth.

He explained that progress in one area does not automatically guarantee progress in the others. Even if Ripple expands its business and XRPL attracts more activity, XRP holders still need a clear explanation of how that growth creates sustained demand for the token.

He therefore questioned the economic mechanism that connects network utility to XRP’s value. Panos maintained that holders have every reason to ask how increased activity benefits the token and that these questions do not constitute fear, uncertainty, and doubt (FUD).

Panos Places Greater Responsibility On Ripple

Panos also addressed Ripple’s influence over the ecosystem. Although he acknowledged that Ripple does not control XRPL unilaterally, he stressed that the company’s financial resources, industry relationships, and market position give it significant power to accelerate development.

He believes smaller independent teams cannot compensate for a lack of urgency from an organization with Ripple’s resources, particularly when limited network activity and revenue make it difficult for developers to sustain their projects.

Panos added that he has raised these concerns for more than a year while documenting his experiences as a builder and the challenges facing independent teams.

Despite his criticism, he emphasized that he wants XRPL to succeed. He explained that he has reduced his community involvement because of persistent disagreements and the gap between promised developments and delivered results.

He now focuses on building useful products and bringing them to users. However, he believes XRPL needs stronger execution, meaningful adoption, and a community willing to demand better results.