Ripple faces backlash as XRP price lags cryptocurrency rally - The Coin Republic
XRP holders have expressed frustration with XRP's slow growth while #bitcoin approaches $BTC Ripple's CTO defends XRP's value strategy amid community criticism. Legal restrictions are limiting Ripple's ability to promote #XRP , which could affect market performance.
After bitcoin passed the $89,000 mark and the total #cryptocurrency market surpassed $3 trillion, the #Ripple community expressed dissatisfaction with the drop in token prices.
the recent spike in bitcoin's price in one week took it from $68,357 to $89,604. This has spurred the rise of various altcoins, including Dogecoin, which has gained 200% in value over the past seven days. However, XRP's rise has been relatively limited, reaching only $0.6767, a two-month high, and many in the XRP community are questioning Ripple's leadership.
Despite an impressive 16% rise in the last 24 hours, XRP's movement remains slow compared to other major cryptocurrencies.
Bitcoin continues to break records and assets such as Solana are approaching all-time highs. However, XRP prices seem to be struggling with the upward momentum. Because of this performance gap, angry investors are directing their anger at Ripple's senior management. Specifically, CTO David Schwartz urged them to do "something" to improve XRP's performance.
the court case between Ripple and the SEC remains unresolved, creating uncertainty around XRP as well as negative sentiment towards it.
Mr. Schwartz recently had to revisit his own work examining an investment agreement that suggested that Ripple did not guarantee XRP's value growth.
He argued that one can invest in a work of art, and that investors in XRP cannot force Ripple to provide monetary value. However, the statement sparked controversy among investors, with some accusing Ripple of not giving value to XRP holders.
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