It is MUCH WORSE than your explanation lets on. XRP as a token is being bid up in value to insanely high prices.

Idiots who are buying in do not realize that the banksters are NOT COMMITTED to using the XRP token. They will likely use Ripple for cross border funds transfers. But they won't use XRPs.

Why would you think banksters would start working with an open public blockchain?

They will use Ripple blockchain, but it will be private. XRP tokens on the public version of Ripple will be close to worthless.

Pity the fools buying XRP, thinking those tokens have ANY CHANCE of any long term value.

There are scenarios where BTC has long term value, at much higher prices than today, if you buy into BTC as digital gold and a store of value.

That at least has the potential to come true