Recently, the spotlight in the cryptocurrency market has turned to XRP. After a major announcement from Grayscale Investments, XRP surpassed leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). However, not everyone is optimistic about this rise. Notable crypto trader Sensei has openly criticized XRP, calling it a “shitcoin.” So, is XRP’s surge here to stay, or is it just another bubble?
Sensei’s Harsh Criticism of XRP
Sensei, a well-known figure in the crypto world, has drawn attention with his outspoken views on social media. In his latest tweet, he expressed serious doubts about XRP’s future. He pointed out that XRP’s market dominance has fallen from 32% in 2017 to just 1.5% today, and he believes XRP will miss out on the next bull run. Referring to Bitcoin’s past performance, Sensei argued that XRP has a low chance of delivering long-term gains to investors.
One of the most striking aspects of his critique was calling XRP a “useless shitcoin.” So, how valid are Sensei’s harsh words? Should XRP investors really reconsider their positions?
$XRP went from 32% to 1.5% dominance in 7 years.
Who still buying this useless shitcoin ? pic.twitter.com/Ce7E0KPBzS
— Sensei (@SenseiBR_btc) September 13, 2024
Will XRP’s Price Continue to Rise?
Although Sensei’s criticism is harsh, XRP has faced similar skepticism before and still provided significant returns to investors. In particular, between 2016 and 2017, there was similar doubt about XRP’s potential. However, XRP shocked its critics by rising 110,233% from its lowest point in January 2017 to its all-time high in January 2018. This historical performance suggests that XRP may have more surprises in store.
Grayscale Investments and XRP’s Recent Rise
As reported by The Bit Journal, XRP’s recent price surge is closely tied to Grayscale Investments launching its XRP Trust. This development followed the resolution of the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). Grayscale’s move is seen as the first step toward creating an XRP-based ETF, which could potentially bring significant capital inflows and drive XRP’s price higher.
XRP recently hit $0.588, marking a three-week high. While it has since slightly dipped to $0.5820, the token is still up 3.4%, and its market capitalization has reached $32.8 billion. These figures suggest a growing positive sentiment among XRP investors.
Critical Questions for Investors
XRP’s current rise has sparked mixed reactions from investors. On one side, analysts like Sensei express doubts about XRP’s long-term potential, while on the other, investors see Grayscale’s involvement as a sign of major future growth. The critical question for investors is: Is XRP a long-term investment opportunity or just a bubble waiting to burst?
The performance of any cryptocurrency is subject to various factors. Given XRP’s strong track record, it wouldn’t be surprising if it delivered significant gains again. However, in such a highly volatile market, careful analysis is always crucial before making any investment.
