The bearish case against XRP (CRYPTO: XRP), the native token of the XRP Ledger, is arguably getting stronger. The token was primarily used as a bridge currency for fiat transactions on Ripple’s blockchain-based payment platform. Still, Ripple’s new stablecoin — Ripple USD (CRYPTO: RLUSD) — can achieve the same thing with a lot less volatility.

XRP also isn’t valued by its scarcity in the same way as Bitcoin, since its developers minted the entire supply of 100 billion tokens before its market debut. Its ledger also doesn’t natively support smart contracts, which are used to develop decentralized apps, so it can’t be considered a developer-oriented token like Ethereum.

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