A 2021 Citibank document using the phrase “Regulated Internet of Value” is at the center of a new XRP debate, after Apex Crypto Insights researcher Jesse argued that the wording was later shifted to “Regulated Liability Network” because the link to Ripple was too obvious.
He says the paper trail, along with years of weak price action, points to one sign which may be held for reasons greater than ordinary market trading.
A price that wouldn’t move
The XRP chart is the first thing Jesse points to. The token reached $3.84 during the 2018 bull run and later reached $3.60 earlier in this cycle, but it has moved sideways for much of the past decade as Bitcoin climbed much higher.
Jesse called that mismatch difficult to explain under a normal market setup and said, in his opinion: oppression is a possible answer.
The claim is not presented as evidence. Jesse summarizes it as his opinion, but he links it to a broader argument about how the financial system could change if XRP starts to play a deeper role than just simple payments.
The Internet of Value Thesis
Jesse says XRP should be seen as part of an “internet of value” and not just another crypto asset. He links that idea to that of Ripple Interledger protocolwhich he says is intended to move value in the same way the internet moves information.
From there, he says, the path goes through various institutional documents and speeches. According to Jesse, Tony McLaughlin of Citibank has the Regulated liability network and the shared ledger idea as the same concept, and he says the Bank for International Settlements has also discussed a unified ledger that could replace correspondent banking and even Swift.
The researcher’s case is based on that set of references. He argues that if major banks prepare a new settlement system, assets linked to that system may not fluctuate wildly in price, as volatility would be a problem for anything intended to function as a reserve or settlement layer.
What the theory still misses
Jesse provides no hard evidence of manipulation. His argument is based on interpretation rather than any public evidence of coordinated price control, and ultimately leaves the question unresolved without drawing a definitive conclusion about market behavior.
Featured image from Unsplash, chart from TradingView