📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Ripple CEO Suprised At XRP’s Non-Recognition By The Crypto Market’s Dynamics

Published 06/16/2024, 06:47 AM
Updated 06/16/2024, 07:30 AM
Ripple CEO Suprised At XRP’s Non-Recognition By The Crypto Market’s Dynamics

  • XRP’s relative lack of movement has generated significant FUD.
  • Ripple’s CEO is frustrated about XRP’s current state despite regulatory clarity.
  • BarriC has debunked XRP FUD and predicts a rebound soon.

XRP’s relative lack of movement has generated significant FUD across the cryptocurrency ecosystem, leading to some of the altcoin’s critics referring to it as a “dead coin.” Ripple’s CEO Brad Garlinghouse has expressed frustration about XRP’s current state despite its status as a cryptocurrency with a well-defined regulatory status in the U.S.

A U.S. Judge declared that XRP is not a security for secondary transactions in a July 2023 court ruling. Following the judgment, the embattled cryptocurrency’s price soared over 100% in less than 24 hours, reaching a seasonal peak of $0.93. However, the price didn’t stay high for long, as XRP dropped by about 50% shortly afterward and has remained in that range for several months.

Meanwhile, Garlinghouse has expressed surprise at the non-recognition of XRP’s regulatory status despite being relisted on major U.S. exchanges like Coinbase (NASDAQ:COIN), Gemini, Crypto.com, and Kraken. Grayscale’s investment products also reinstated XRP, but the altcoin remains within the post-July 2023 levels.

BarriC, a renowned XRP supporter on X, recently shared his opinion on XRP’s potential and debunked the notion that the altcoin’s price has been stagnant since 2017. In a recent post, BarriC highlighted XRP’s price ranges across different seasons, showing how the cryptocurrency has performed over the years despite facing significant challenges.

The pro-XRP commentator noted that the altcoin performs differently than the rest of the crypto market because of the Ripple lawsuit and delistings that reached peak FUD and hysteria in 2021. According to BarriC, XRP has not registered new all-time highs since its initial surge in 2018 because of the challenges.

Furthermore, he noted that anyone pushing the narrative that XRP’s price is stagnant is lying, advising crypto users to look into the crypto project’s future and expect an explosive move in the next bull run.

The post Ripple CEO Suprised At XRP’s Non-Recognition By The Crypto Market’s Dynamics appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.