In the middle of a difficult year for the payment-oriented cryptocurrency, Ripple CTO David Schwartz recently visited Twitter fight with community members why banks continue to refuse to accept XRP as a bridge.
During a conversation with a member of the Ripple community last week, Schwartz stated that there are A number of obstacles Ripple is facing have resulted in banks refusing to use XRP for international payments.
Schwartz wrote that he was looking at subjects like “Regulatory uncertainty, problems on the last mile, fear of retaliation from existing partners” hinder mass adoption.
Schwartz also stated that another reason banks were reluctant to roll out XRP on a large scale was is that the product is very new and it will take longer to really take off.
The comments come amid a slump for the coin and its holders. XRP is down 18.6% so far this year, and more than 90% from its all-time highs.
Furthermore, PayPal has not added XRP to the list of cryptocurrencies that are accepted on its platform. and the company stands before an intellectual property lawsuit in Australia over the PayID brand of its payment system.
Ripple investors aren’t the only ones in pain, however, as Cointelegraph reported earlier this month Schwartz sold 40,000 ethers in 2012 for $ 1 each.