Cryptocurrencies have enjoyed an otherwise generous range of titles from a financial and legal sense, for the United States specifically, it’s as a security. But according to Mati Greenspan, who serves as eToro’s senior market analyst, XRP shouldn’t be regarded as among the securities.

With that in mind, even with the level of exposure that Ripple & XRP have amongst crypto and blockchain receptive banks, it’s reputation isn’t at all helped by on overly truculent community that will not take no for an answer and doesn’t take to criticism well. According to Greenspan, this is something that is seriously impacting on XRP’s ability to get wider adoption from banks.

While this is a pretty unfortunate diagnosis from the senior analyst, Greenspan did go on to clarify that his outlook on XRP remains ‘bullish’, especially with regards to its uses as a payment settlement system internationally, as well as for cross-border payments.

During an online webinar over Friday, he argued that XRP has all the potential to flip over and disrupt the banking system as we know it at the moment. Greenspan went on to argued that XRP cannot be legally regarded as a security in the US for a number of reasons, adding that the way that it is applied resembles the characteristics commonly seen from utility tokens as opposed to securities.

“XRP is not a security, in my personal opinion”, Greenspan said. “My best understanding is XRP is logically a utility token [but] the SEC may see things differently.”

While this does clear some of the air for those listening, he had a number of points to add that would detract from XRP’s chances of wider institutional implementation; and that would be its online community.

While XRP’s community was recently applauded for its ability to assemble and troop the digital colours for XRP; helping to raise awareness internationally for it, this was getting out of hand fast. Members of an increasing demographic of the community often coming on too strong and even with latent hostility in an attempt to coerce banks into leveraging XRP.

“The negative side to [XRP’s online community] is aggressiveness,” Greenspan conceded “Floods of people are attempting to force banks to accept XRP.”

This over-assertiveness and hostility, Greenspan argued, maybe having a highly detrimental effect on the way banks perceive XRP, inevitably resulting in banks wishing to get some distance from it as a product and its community. This is not a theoretical scenario, a number of banks that had initially been considering leveraging XRP had since decided against it, citing the toxicity of the community online.

Needless to say; the online community of any brand serves as its ambassadors, and there’s no poorer example than a slurring, bellicose and virtually violent ambassador.

The Hashtag War – Winners

XRP is a major force when it comes to its community, no other cryptocurrency or blockchain counterpart comes close to just how febrile XRP’s is. Since giving themselves the collective, if a little uninspired “#XRPArmy” as its name, they have been incredibly vocal when a number of topics emerge.

In particular, this includes the regulatory status of XRP, specifically, within the US. Along with this, the #XRPArmy have been piling on the pressure for a listing on the California-based cryptocurrency exchange, Coinbase.

The aggressiveness, as well as flagrant hostility, felt by observers and victims of this community has grown so overbearing that a number of known names in the space have resorted to simply blocking members of the community wholesale.

The best metaphor given about personal experiences with this community come from Jackson Palmer, more popularly known as the creator of Dogecoin (DOGE), referring to the #XRPArmy as a ‘Toxic dumpster fire of a community.” Palmer went as far as to publish a programming script for users to apply to their Twitter accounts he aptly referred to as ‘XRP Away.’ Much as the name suggests, when the script is enabled, it gets to work blocking any users that mention a user who uses the term XRP or has referred to it in their profile.

While Palmer has proven to be one of those that have taken an innovative approach towards the community, he is certainly not its only victim. A member of the writing staff for Coindesk, Daniel Floyd, for example, was also subject to vigorous attack by XRP enthusiasts. His ‘crime’ in their eyes? Not from writing anything scathing or hostile about XRP, but simply approaching senior members of its team for comment for a story he was writing.

It’s Still one to Add to Your List

Now while there are plenty of blockchain and crypto enthusiasts that have XRP’s back with regards to its potential for being leveraged for banks, but it has its fair share of detractors too. Colin LeMahieu is one of them, speaking as the founder of Nano, he argued that XRP was too centralized an entity, as well as having too slow of a transaction speed to be considered a worthy alternative for banks to use.

Greenspan himself sees the advantages of XRP, but he has a number of concerns too, including Ripple Labs, which is the token’s creator, with a monopoly of nearly 60 percent of the existing supply of XRP tokens. This meant that there was an undue level of risk associated with the token in general, and validates LeMahieu’s earlier comments regarding centralization.

This factor also means that there is an undue level of difficulty in stabilizing it to be the victim of fluctuations to its value or volatility.

While concerns are abound from Greenspan, he remains a steadfast owner of XRP tokens and has been a holder of them for approximately five years. This aside, however, he explained that the projects continued viability comes from its relevance in the eyes of financial institutions and banks. For these institutions, public image is imperative and being associated with a community that is gaining a reputation for positively bad reasons does nothing to help them.

XRP has a number of issues that it needs to redress if it is to continue to have relevance to a large-scale, multinational consumer base. The particularly strong focus needs to be put on its regulatory status and real use cases for companies. But especially, attention must be given to reining in this otherwise overly aggressive community.