A former Ripple bigwig has dropped a bombshell. XRP, the cryptocurrency associated with Ripple, isn't meant for regular folks. Dilip Rao, ex-global head of infrastructure innovation at Ripple, spilled the beans at a Dubai summit.

Rao's comments came during a Q&A session. Attendees were curious about crypto's speculative nature. They wondered if it was hurting the industry's growth.

The ex-exec didn't mince words. He admitted that many people trade XRP speculatively. But that's not Ripple's endgame. Over 200 exchanges globally trade XRP. Rao suggested some of this activity is superficial.

Ripple has bigger fish to fry. They're positioning XRP as a tool for big-shot institutions. The goal? Use it as a bridge in hefty financial transactions.

Rao acknowledged the market noise. But he pointed to a shift. In one quarter, most of Ripple's XRP sales were to institutional investors. This marks a turning point.

"As this transition from retail to institutional use continues, XRP will be used more for wholesale financial purposes," Rao said. That's when things will get interesting.

These comments were made back in 2018. The XRP Army recently dug them up. A lot has changed since then. XRP is still a hot commodity. It's among the top ten traded crypto assets.

But it's not all sunshine and rainbows. Ripple's XRP sales to institutions have landed them in hot water. U.S. regulators are demanding up to $2 billion in fines.

Despite this, XRP holders remain bullish. They're banking on institutional interest to drive up the asset's value. One enthusiast even claimed, "Every single XRP will be like GOLD."

Rao's past role at Ripple was no small potatoes. He led teams in securing banking partnerships for RippleNet. His work helped launch Ripple-powered payment services across multiple regions.

In the end, Rao's comments highlight a crucial question. Is XRP destined for Wall Street, or will it remain a retail darling? Only time will tell.