You can be right and I think we have the same conclusion. Now, for Ripple to be effective, maybe we need new banks on the blockchain though I am not so sure if this can be legally done. I have seen some ICOs purportedly establishing their own banks online with the use of the blockchain technology but I still have to see one which can claim to be operating in any capacity as a bank. Maybe this can happen in the future. What happened to Ripple was purely a big hype that is why it is now sadly retreating in value. So much for its ambition to be replacing Bitcoin then.