Many would argue that XRP has They have finally been released. From the shadow cast by the SEC-Ripple lawsuit, however, the cryptocurrency’s price can’t seem to calm down. The legal battle that has been looming over XRP for years has finally reached a turning point with the Ripple lawsuit Modern punishment in courtDespite this, the price of XRP is still facing challenges, and has not gained the momentum that many had hoped for after the lawsuit was resolved.
Recently, a well-followed crypto commentator on social media platform X called XRP the biggest scam in the crypto world. The reason for this claim? XRP has failed to make gains in the wake of Ripple’s recent court settlement.
XRP is the biggest scam in the crypto world, says a crypto expert
According to a social media post by Max Prime, XRP is the biggest scam in the crypto world. Max was referring to the recent conclusion of the SEC-Ripple lawsuit. The lawsuit, which was a major point of contention in the crypto community, ended with Ripple announcing Payment order $125 million in fines for improperly selling its XRP tokens to institutional investors. This was largely seen as a win for Ripple and the XRP community, as the penalty was much less than the $2 billion the SEC had sought.
XRP market cap currently at $31.8 billion. Chart: TradingView.com
Despite the positive outcome of the lawsuit, the price of XRP has struggled to maintain any significant upward momentum. Initially, news of the case Short wave In XRP value, the price jumped 26% in just a few hours. Unfortunately, this surge was short-lived. The price quickly reversed its gains and has since remained below the $0.60 mark. As such, Max Prime mocked XRP enthusiasts who I waited for a long time For XRP to rise.
#XRP It is literally the biggest scam in the crypto world.
They won the lawsuit against the SEC.
(pay a very small fine)And XRP is not moving
These clowns said XRP
I reached the moon after the lawsuit
and you get nothingHahahahaha you idiots pic.twitter.com/LR6sWtKtf5
— Max Prime (@MatrixPrime_) August 17, 2024
“These clowns promoting XRP were saying it went to the moon after a lawsuit and they got nothing hahahahaha you idiots,” he said. He said.
What’s next for XRP?
While this lack of sustainable growth has led to frustration and disappointment among many XRP enthusiasts, many disagree with Max’s criticism. XRP, which has built a large following over the years, is backed by a passionate community of Cryptocurrency analysts and enthusiastsDespite the dedication of its supporters, XRP has been the subject of criticism and negativity from other market participants since late 2020.
It is important to note that the current lackluster price action is a result of Consolidating the broader market at the momentThe entire market is currently experiencing price corrections, and most cryptocurrencies have been trading in a range for the past seven days. Since this is not a new case for XRP, it would not really make sense to call XRP a scam or a failure. He still has a lot to do. When the bull market starts moving again.
At the time of writing, XRP is trading at $0.5666.
Featured image by FX Empire, chart by TradingView