Many would possibly argue that XRP has lastly been let out from the shadow solid 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 latest penalty in courtroom. Regardless of this, the worth of XRP continues to face challenges, and it has not gained the momentum that many had hoped for after the lawsuit’s decision.
Not too long ago, a crypto market commenter with an honest 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 latest 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 latest conclusion of the SEC-Ripple lawsuit. The lawsuit, which had been a significant 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 largely 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 worth of XRP has struggled to take care of any important upward momentum. Initially, the information of the case sparked a short surge in XRP’s worth, with the worth leaping by 26% inside only a few hours. Sadly, this rally was short-lived. The worth rapidly reversed its beneficial properties and has since remained beneath the $0.60 mark. As such, Max Prime mocked XRP fanatics 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 wonderful )
And XRP DOESN’T MOVETHESE XRP CLOWNS HAVE BEEN SAYINGITS TO THE MOON AFTER LAWSUITAND 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 mentioned.
What’s Subsequent For XRP?
Though this lack of sustained progress has led to frustration and disappointment amongst many XRP fanatics, lots of them would disagree with Max’s criticism. XRP, which has constructed a considerable following over time, is supported by a passionate group of crypto analysts and fanatics. 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 worth motion is a results of the present wider market consolidation. Your entire market is at present 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 so much 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
