Many would possibly argue that XRP has lastly been let out from the shadow forged behind by the SEC-Ripple lawsuit, however the cryptocurrency value 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 latest 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.
Lately, a crypto market commenter with a good following on social media platform X has termed XRP as the largest rip-off in crypto. His purpose for this declare? XRP’s failure to interrupt on a value rally after the latest Ripple settlement in courtroom.
Crypto Pundit Says XRP Is Crypto’s Greatest Rip-off
Based on a social media submit by “Max Prime,” XRP is the largest rip-off in crypto. Max pointed to the latest conclusion of the SEC-Ripple lawsuit. The lawsuit, which had been a serious level of rivalry within the crypto group, 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 group, because the penalty was far lower than the $2 billion requested by the SEC.
XRP market cap at present at $31.8 billion. Chart: TradingView.com
Regardless of the favorable final result of the lawsuit, the value of XRP has struggled to take care of any important upward momentum. Initially, the information of the case sparked a quick surge in XRP’s worth, with the value leaping by 26% inside only a few hours. Sadly, this rally was short-lived. The worth rapidly reversed its positive factors and has since remained under the $0.60 mark. As such, Max Prime mocked XRP lovers who’ve waited for thus lengthy for an XRP rally.
#XRP is actually the largest rip-off in crypto
THEY WIN THE LAWSUIT AGAINST THE SEC
( paid very small tremendous )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 stated.
What’s Subsequent For XRP?
Though this lack of sustained progress has led to frustration and disappointment amongst many XRP lovers, a lot of them would disagree with Max’s criticism. XRP, which has constructed a considerable following through the years, is supported by a passionate group of crypto analysts and lovers. Regardless of the dedication of its supporters, XRP has been the topic of criticism and negativity from different market individuals since late 2020.
It’s vital to notice that the present lackluster value motion is a results of the present wider market consolidation. All the market is at present dealing with value corrections, and most cryptocurrencies have traded in a spread 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 loads 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