- The relative lack of XRP movement has resulted in significant FUD.
- Ripple CEO is frustrated with the current state of XRP despite regulatory transparency.
- BarriC debunked the XRP FUD and predicts a rebound soon.
XRP’s relative lack of movement has caused significant FUD throughout the cryptocurrency ecosystem, leading some critics of the altcoin to call it a “dead coin.” Ripple CEO Brad Garlinghouse has expressed frustration with the current state of XRP despite its status as a cryptocurrency with a well-defined regulatory status in the US
In a court ruling from July 2023, an American judge stated that XRP does not constitute a security for secondary transactions. Following the ruling, the price of the endangered cryptocurrency surged by more than 100% in less than 24 hours, reaching a seasonal high of $0.93. However, the price didn’t stay high for long, as XRP dropped by around 50% shortly thereafter and stayed in that range for several months.
Meanwhile, Garlinghouse expressed surprise at the failure to recognize XRP’s regulatory status despite its re-listing on major US exchanges such as Coinbase (NASDAQ:), Gemini, Crypto.com and Kraken. Grayscale’s investment products have also brought back XRP, but the altcoin remains at July 2023 levels.
BarriC, a well-known supporter of XRP on over the years, despite grave challenges.
For anyone spreading this $XRP FUD – the price of #XRP has not changed since 2017. Image 1 – XRP $0.006 in 2017 Image 2 – XRP $3 in 2018 Photo 3 – XRP $1.65 in 2021 r. Photo 4 – current XRP price $0.49 #XRP works differently than most #crypto… pic.twitter.com/wm4eEis8KB
— BarriC (@B_arri_C) June 15, 2024
A pro-XRP commentator noted that the altcoin is performing differently than the rest of the cryptocurrency market due to the lawsuit and delisting from exchanges reaching peak FUD and hysteria in 2021. According to BarriC, XRP has not registered novel all-time highs since its initial surge in 2018 with because of the challenges.
Moreover, he noted that anyone pushing the narrative that the XRP price is stagnating is lying, advising cryptocurrency users to look to the future of the crypto project and expect a edged move in the next bull market.
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