Crypto pundit Max Prime has sparked controversy by labeling XRP the biggest scam in crypto. Prime’s statement stems from XRP’s failure to capitalize on significant events, including the recent lawsuit verdict.
On August 7, Judge Analisa Torres approved a $125 million fine for Ripple, a fraction of the $2 billion sought by the SEC. Despite this favorable outcome, XRP’s price surge was short-lived, rising 30% to $0.64 before retreating to $0.6008. By the fourth day, XRP had dropped to $0.5475, a 14.66% decline from its post-lawsuit high.
A History of Underperformance
XRP’s lackluster response to the lawsuit verdict is not an isolated incident. The asset has been underperforming for years, with its last notable price movement occurring in 2021 when it reached $1. XRP has not achieved a new all-time high since 2018, nearly seven years ago.
This prolonged stagnation has led critics like Prime to question XRP’s legitimacy. Proponents had long argued that XRP would begin its moon rally once Ripple won the lawsuit. Instead, XRP only experienced a brief pump and subsequent dump.
The Web3 Partnership: Another Non-Event
Ripple’s recent partnership with the SBI Digital Community to promote XRP Ledger in the Web3 sector has failed to generate significant price movement. This lack of impact has raised concerns about XRP’s utility and potential for growth.
Even prominent XRP community members have expressed disappointment, with some making sarcastic remarks about overly optimistic enthusiasts. The partnership’s failure to drive XRP’s price higher has led some to question what, if anything, could drive XRP’s value higher.
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A Divided Community
Despite XRP’s underwhelming performance, many still expect the asset to rally significantly, with some predicting a 22,000% increase to $125. However, others remain skeptical, citing XRP’s history of failed promises and lack of tangible progress.
The community’s division has sparked debate, with some arguing that XRP’s utility and potential for growth justify its value, while others see it as a speculative bubble waiting to burst.
Max Prime’s assertion that XRP is the biggest scam in crypto highlights the asset’s failure to capitalize on significant events. XRP’s prolonged underperformance has led to a divided community, with some maintaining optimism while others express skepticism.
As the crypto landscape continues to evolve, XRP’s future remains uncertain. Will XRP finally meet its promised potential, or will it continue to underwhelm? Only time will tell.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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