Wolf of All Streets Asks What Utility Does XRP Have After Western Union Snub

Bitcoin commentator Scott Melker, widely known as The Wolf of All Streets, has stirred a new controversy around the relevance of XRP.

In a post on X, Melker questioned what real-world utility XRP holds in today’s evolving payments landscape, especially after major financial players opted for other blockchain networks.

“What is the current pitch for XRP? The token, not Ripple the company,” Melker asked.

The firm said its Digital Asset Network will bridge fiat and digital currencies, giving users global access to send, spend, and cash out stablecoins directly.

What drew attention, however, was the absence of Ripple or XRP in the plan. For years, Western Union ran XRP-based payment tests, but none progressed to full-scale adoption.

Instead, the 175-year-old company chose Solana to handle what could be over $100 billion per year in cross-border volume. This has reignited skepticism about XRP’s long-term role in the payments industry, once its strongest selling point.

Community Reactions

Melker’s post sparked a lively debate among XRP fans, with many sharing different views on XRP’s purpose.

X user Cripto ISO 22 argued that Melker’s question actually highlights what makes XRP unique. According to him, XRP isn’t meant to compete with stablecoins but to act as a bridge, moving liquidity between them and across financial networks.

He explained that stablecoins hold value within specific systems, while XRP enables “mobility for instant settlement.”

He also cited Ripple’s recent projects like GTreasury, RLUSD, and Evernorth as examples of XRP serving as a neutral link between digital and fiat money. “Stablecoins move within silos,” he wrote. “XRP moves value across them.”

Meanwhile, Melker was unconvinced, responding that this explanation “makes no sense” to him. He questioned why a volatile token is needed when a stablecoin could handle conversions without the risk of price swings.

Another user, OGCryptoAndNFTs, broadened the discussion to Bitcoin, questioning its real-world utility. He argued that few projects are built on it and that it isn’t widely used for tokenization or payments. “Besides a bunch of marketers telling everyone to buy,” he wrote, “what’s the actual use case?”

Melker replied that this was “kind of the point,” meaning Bitcoin doesn’t need to serve as a payment network to have value.

Another commenter described XRP as “the liquidity Swiss Army knife,” a phrase Melker dismissed by saying any asset can serve as liquidity.

XRP Ledger validator

Vet, an XRP Ledger validator, also joined the conversation. He said network preference often comes down to philosophy and design, noting that the XRP Ledger’s consensus algorithm, Layer-1 features, and security-focused structure make it well-suited for efficient money movement.

Simple. Just preference. Some people prefer Bitcoin, Ether or XRP.

For the XRP Ledger there are many. To list a few – unique consensus algorithm, enshrined L1 features and no protocol incentives.

In general it’s a very defensive chain, purpose built to move money at low risk.

— Vet 🏴‍☠️ (@Vet_X0) October 30, 2025

The Changing Face of Blockchain Payments

Melker’s comments highlight the ongoing shift in blockchain payments. Today, stablecoins, not volatile native tokens, are mostly driving cross-border innovation. Numerous financial institutions, particularly in the U.S., have disclosed plans to launch their own stablecoins for efficient payment transactions.

Among the major names are JPMorgan, Bank of America, and Citigroup, joining existing players like PayPal. The trend rose after the U.S. passed regulations for stablecoins in July. Even governments in countries like Kyrgyzstan are making moves on stablecoins.

SWIFT, once seen as Ripple’s rival, is testing blockchain settlements on Linea, an Ethereum Layer-2 network, bypassing XRP entirely.

Meanwhile, legal expert Bill Morgan highlighted that major institutions like Western Union or SWIFT choosing rival chains over XRP is a matter of adoption and commercial choice, not functional utility. To him, that does not diminish XRP’s relevance.