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On Thursday, Ripple CEO Brad Garlinghouse <a href="https://twitter.com/i/bookmarks?post_id=1776060211436101780" rel="noopener noreferrer nofollow">took aim</a> at cryptocurrency media outlet Coindesk over its recent article, which portrayed the company's foray into the crowded stablecoin market as a desperate move.&nbsp;
Garlinghouse argues that the negative article is "embarrassing" for the industry. "Childish antics masquerading under what should be a credible brand that leads coverage of the crypto industry," Garlinghouse added in his post on the X social media network.&nbsp;
In the article, Daniel Kuhn, a deputy managing editor for Consensus Magazine, writes that Ripple declared the "death" of the controversial XRP token with its recent stablecoin announcement.&nbsp;
Kuhn has suggested that the embattled company might be desperate for a new revenue source. As&nbsp;<a href="https://u.today/sec-v-ripple-key-details-from-2-billion-motion-for-remedies" rel="noopener noreferrer nofollow">reported by U.Today</a>, the U.S. Securities and Exchange Commission has requested that Ripple pay more than $2 billion in fines and penalties, arguing that such a massive fine would serve as a deterrent to the broader industry.&nbsp;
The article has also mentioned that Ripple's On-Demand Liquidity solution has failed to gain significant traction with "legitimate" financial institutions that might be wary of XRP's volatility. It adds that the company's partnerships with&nbsp; Santander and MoneyGram ultimately failed. Moreover, there is no data that shows how often RippleNet customers actually use XRP for cross-border liquidity.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<h2 id="the-xrp-army-fights-back">The XRP Army fights back&nbsp;</h2>
Naturally, the proponents of the XRP community were up in arms over the article, which portrayed Ripple as a struggling company. They were quick to point out that major institutions like American Express are still among Rippe's financial partners.&nbsp;
Moreover, XRP remains one of the top cryptocurrencies by market capitalization. Even though it now accounts only for a small portion of Ethereum's value, it would still be a stretch to argue that the Ripple-affiliated cryptocurrency is fading into irrelevance.&nbsp;
"Ripple’s still pushing forward, finding new paths and opportunities. It’s not about whether they’re stumbling; it’s about how they keep moving ahead," said Artur Kirjakulov, co-founder of XPMarket.com <a href="https://twitter.com/Kirjakulov/status/1775999575204982815" rel="noopener noreferrer nofollow">wrote</a> on the X social media.&nbsp;

Ripple CEO Lashes Out at Coindesk Over "Embarrassing" Article

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