Crypto Pundit Slams XRP As The ‘Greatest Rip-off In Crypto’

Many would possibly argue that XRP has finally been set free 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 recent penalty in court. 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 most important rip-off in crypto. His purpose for this declare? XRP’s failure to interrupt on a value rally after the current Ripple settlement in court docket. 

Crypto Pundit Says XRP Is Crypto’s Greatest Rip-off

In line with a social media put up 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 competition 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 traders. This was largely 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 presently at $31.eight billion. Chart: TradingView.com

Regardless of the favorable end result of the lawsuit, the value of XRP has struggled to keep up any important upward momentum. Initially, the information of the case sparked a brief surge in XRP’s worth, with the value leaping by 26% inside just some hours. Sadly, this rally was short-lived. The value rapidly reversed its good points and has since remained under the $0.60 mark. As such, Max Prime mocked XRP fans who’ve waited for so long for an XRP rally.

#XRP is actually the most important rip-off in crypto

THEY WIN THE LAWSUIT AGAINST THE SEC
( paid very small high quality )

And XRP DOESN’T MOVE
THESE XRP CLOWNS HAVE BEEN SAYING
ITS TO THE MOON AFTER LAWSUIT
AND GET NOTHING

HAHAHAHA 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 said.

What’s Subsequent For XRP?

Though this lack of sustained progress has led to frustration and disappointment amongst many XRP fans, 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 enthusiasts. 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 essential to notice that the present lackluster value motion is a results of the current wider market consolidation. All the market is presently 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 still has a lot to perform 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