[Market Experts Call XRP the Biggest Scam in Cryptocurrency]
Commentator Max Prime recently took to the X platform to criticize XRP for failing to rise as expected following several major events. He mentioned that although Ripple’s long-running lawsuit with the U.S. Securities and Exchange Commission (SEC) ended and the fine was significantly reduced, the price of XRP did not significantly reflect this outcome.
On August 7, Judge Analisa Torres approved a fine of $125 million against Ripple, which was only 6.25% of the $2 billion sought by the SEC. Although this was seen as a major win for Ripple, XRP only briefly jumped 30% to $0.64 on the day before quickly falling back. Four days later, XRP price has dropped to $0.5475, showing a 14.66% retracement.
Max Prime expressed disappointment with this performance, especially as many supporters expected XRP to surge following Ripple’s victory. XRP has long underperformed, not reaching $1 since 2021 and not hitting new highs since 2018.
Although Ripple’s recent partnership with SBI Digital Community aims to promote the use of XRP Ledger in the Web3 industry, the news has not had a significant impact on XRP prices. With XRP not performing as expected in the wake of the lawsuit, some are beginning to question the asset’s future potential. However, there are still those in the XRP community who expect the asset to rise significantly in the future.
