The only reason I didnt buy any was the coin distribution - Ripple labs and the founders had the vast majority of the XRP. They have the ability to kill any price increase with a big sell. This concentrated ownership position is a very big turnoff to crypto enthusiasts.
Ander,
You are ABSOLUTELY correct about the botched initial distribution. This is Ripple's "original sin". I agree that the founders should NOT have kept any XRP since they already hold all the company stock. Recently there was mitigation to that aspect of it.
See
https://forum.ripple.com/viewtopic.php?f=1&t=7641 for details.
TL;DR: All the Founders have been locked up for many years to come with no ability to sell XRP other than token weekly amounts.
One can argue about the wisdom of granting 100% of the currency to the company and this issue is clearly controversial.
If RL kept 100% of XRP then the situation with rogue founder Jed dumping billions of XRPs (this actually happened last summer ! Which made that proverbial XRP Flood Risk come to life and it was painful for everyone)
RL's position has always been that 25% of XRP would be used to fund the company indefinitely (this is the company's revenue model into the future, it has no other potential sources of revenue) and 50% would be used to seed billions of user accounts or given away in Gateway signups, etc For details see
https://www.ripplelabs.com/xrp-distribution/Still, XRP clrearly suffers from Over-concentration of holdings Risk (I used to call it Flood Risk). The only constraint after the founders have been locked up is that it's not in RL's economic interest to torpedo the market so they will be acting as a temporary central bank of XRP ...
However, and this is what was the decisive factor for me, XRP all starts out in the single Ripple account on ledger reset, after that it tends to spread similar to how molecules would spread in a bottle if they all started in a one corner ... so Over-concentration / Flood Risk is gonna decline in the future ...
Much stronger factor are:
a. XRP can never be created but only burnt so 100 Billion was the peak.
b. There is no mining, so there's no miner sales pressuring the market as in Bitcoin.
In the end, over time, the finiteness, brownian-motion-like dispersal and absolute scarcity of the supply will overpower the downside of the initial over-concentration.