Many would possibly argue that XRP has lastly been let out from the shadow forged behind by the SEC-Ripple lawsuit, however the cryptocurrency worth can’t appear to catch a break. The authorized battle, which had loomed over XRP for years, lastly reached a turning level with Ripple’s current penalty in courtroom. Regardless of this, the value of XRP continues to face challenges, and it has not gained the momentum that many had hoped for after the lawsuit’s decision.
Just lately, a crypto market commenter with a good following on social media platform X has termed XRP as the most important rip-off in crypto. His motive for this declare? XRP’s failure to interrupt on a worth rally after the current Ripple settlement in courtroom.
Crypto Pundit Says XRP Is Crypto’s Largest Rip-off
In keeping with a social media publish by “Max Prime,” XRP is the most important rip-off in crypto. Max pointed to the current conclusion of the SEC-Ripple lawsuit. The lawsuit, which had been a significant level of rivalry within the crypto neighborhood, ended with Ripple being ordered to pay $125 million in penalties for the improper sale of its XRP tokens to institutional buyers. This was principally seen as a win by Ripple and the XRP neighborhood, because the penalty was far lower than the $2 billion requested by the SEC.
XRP market cap at the moment at $31.8 billion. Chart: TradingView.com
Regardless of the favorable final result of the lawsuit, the value of XRP has struggled to keep up any vital upward momentum. Initially, the information of the case sparked a short surge in XRP’s worth, with the value leaping by 26% inside only a few hours. Sadly, this rally was short-lived. The value rapidly reversed its good points and has since remained beneath the $0.60 mark. As such, Max Prime mocked XRP lovers who’ve waited for therefore lengthy for an XRP rally.
#XRP is actually the most important rip-off in crypto
THEY WIN THE LAWSUIT AGAINST THE SEC
( paid very small positive )And XRP DOESN’T MOVE
THESE XRP CLOWNS HAVE BEEN SAYING
ITS TO THE MOON AFTER LAWSUIT
AND GET NOTHINGHAHAHAHA SUCKERS pic.twitter.com/LR6sWtKtf5
— Max Prime (@MatrixPrime_) August 17, 2024
“THESE XRP CLOWNS HAVE BEEN SAYING ITS TO THE MOON AFTER LAWSUIT AND GET NOTHING HAHAHAHA SUCKERS,” he mentioned.
What’s Subsequent For XRP?
Though this lack of sustained development has led to frustration and disappointment amongst many XRP lovers, lots of them would disagree with Max’s criticism. XRP, which has constructed a considerable following over time, is supported by a passionate neighborhood of crypto analysts and lovers. Regardless of the dedication of its supporters, XRP has been the topic of criticism and negativity from different market members since late 2020.
It’s vital to notice that the present lackluster worth motion is a results of the present wider market consolidation. Your entire market is at the moment dealing with worth corrections, and most cryptocurrencies have traded in a variety for the previous seven days. Contemplating this isn’t a novel case for XRP, it wouldn’t actually make a lot sense to label XRP as a rip-off or a failure. The crypto nonetheless has lots to carry out when the bull market kicks in once more.
On the time of writing, XRP was buying and selling at $0.5666.
Featured picture from FX Empire, chart from TradingView