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Ripple CEO surprised by XRP’s lack of recognition in crypto market dynamics by CoinEdition
- XRP’s relative lack of movement has generated significant FUD.
- Ripple CEO is frustrated with the current state of XRP despite regulatory clarity.
- BarriC debunked the XRP FUD and predicts a recovery soon.
XRP’s relative lack of movement has generated significant FUD across the cryptocurrency ecosystem, causing some of the altcoin’s critics to refer to it as a “dead coin.” Ripple CEO Brad Garlinghouse has expressed frustration with the current state of XRP, despite its status as a cryptocurrency with well-defined regulatory status in the US.
A US judge declared that XRP is not a security for secondary transactions in a July 2023 court ruling. After the ruling, the price of the embattled cryptocurrency soared more than 100% in less than 24 hours, reaching a seasonal peak of $0.93. However, the price did not stay high for long as XRP fell by around 50% soon after and remained in that range for several months.
Meanwhile, Garlinghouse expressed surprise at the non-recognition of XRP’s regulatory status despite it being relisted on major US exchanges such as Coinbase (NASDAQ:), Gemini, Crypto.com and Kraken. Grayscale investment products have also re-established XRP, but the altcoin remains within post-July 2023 levels.
BarriC, a renowned supporter of XRP on , showing the performance of the cryptocurrency. over the years despite facing significant challenges.
For those spreading this $XRP FUD – this #XRP has not changed price since 2017 Figure 1 – $XRP $0.006 in 2017 Figure 2 – $XRP $3 in 2018 Figure 3 – $XRP $1.65 in 2021 Figure 4 – current price of $XRP $0.49#XRP performs differently than most #crypto… pic.twitter.com/wm4eEis8KB
-BarriC (@B_arri_C) June 15, 2024
The pro-XRP commentator noted that the altcoin has performed differently from the rest of the crypto market because of the lawsuit and delistings that have reached peak FUD and hysteria in 2021. According to BarriC, XRP has not recorded new highs since its initial increase in 2018 because of challenges.
Furthermore, he noted that anyone promoting the narrative that XRP’s price is stagnant is lying, advising crypto users to look to the crypto project’s future and expect explosive movement in the next bull run.
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