Nicely-known XRP commentator All Issues XRP has triggered renewed dialogue concerning the existence of a “secret” model of the XRP Ledger, the place banks are reportedly transferring billions of {dollars}.
Whereas usually dismissed as mere hypothesis, the analyst argued that this so-called “secret ledger” is just not a conspiracy. As a substitute, he emphasised that it’s actual and absolutely documented.
Ripple’s Personal Ledger
Particularly, the commentator famous that again in 2021, Ripple formally launched a CBDC Personal Ledger. This ledger is a separate, closed model of the general public XRP Ledger.
The non-public ledger is particularly for central banks. It presents privateness, compliance, and national-scale foreign money issuance. All Issues XRP burdened that this model of the XRP Ledger doesn’t depend on XRP and is totally remoted from the general public community.
Sources corresponding to Ripple’s weblog verify the existence and function of this ledger. It presents the identical core efficiency as the general public XRP Ledger—quick settlements and scalable throughput. Nevertheless, it operates behind closed doorways to satisfy the wants of governments and monetary establishments.
No, XRP Isn’t $1,000 on a Secret Trade
Notably, hypothesis has lengthy circulated inside components of the XRP group that XRP trades at $1,000 or extra on the non-public ledger. Curiously, one former London fund supervisor used this narrative to clarify why XRP’s value has remained “low” for years. He even speculated a few future merger of the ledgers to unify the XRP value.
Nevertheless, All Issues XRP cited Ripple CTO David Schwartz, who has repeatedly debunked this narrative. Particularly, there isn’t a twin pricing mechanism for XRP. Furthermore, the CBDC Personal Ledger doesn’t use XRP in any respect.
Primarily, there isn’t a secret market the place banks are shopping for XRP at inflated costs whereas retail merchants are left behind.
All Issues XRP added that whereas this may increasingly disappoint some conspiracy theorists, the existence of Ripple’s non-public ledger remains to be a major growth.
Particularly, it highlights Ripple’s real-world partnerships with central banks and positions its expertise as a basis for future CBDC infrastructure. This strengthens Ripple’s enterprise utility case, simply not in the best way some speculative traders may hope.
9️⃣ So What’s the Verdict?
✅ A personal XRPL for CBDCs? Confirmed.
❌ XRP double-pricing scheme? Debunked.
Don’t confuse “non-public” with “secret”—Ripple’s been upfront about this from the beginning.
— All Issues XRP (@XRP_investing) April 30, 2025
Makes No Sense for XRP to Promote Low-cost and Excessive Concurrently
In the end, All Issues XRP concluded that whereas a personal XRP ledger exists to facilitate massive institutional flows, it isn’t “secret,” and XRP is just not buying and selling at larger costs elsewhere.
Furthermore, it might be irrational for any entity, together with banks, to pay a premium for a commodity they may simply buy at a lower cost on the general public market. This argument additional challenges the idea that XRP may very well be promoting at a premium to establishments whereas retail traders are holding luggage with decrease costs.
