A wave of discussion has erupted within the XRP community following a recent tweet by prominent crypto analyst Egrag Crypto titled, “XRP IS SHIT COIN“. The tweet delves into the current mood of XRP holders, where frustration simmers due to the token’s price consolidation.
This sentiment is amplified by the explosive growth witnessed by other cryptocurrencies, leaving some XRP holders questioning the token’s future potential.
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Key Points and Concerns Raised
Here are the concerns and key points raised by the analyst:
Price Disappointment: Egrag acknowledges the disappointment felt by XRP holders, pointing out that a large portion (90%) are likely frustrated by the current price.
Doubt and FUD: The tweet suggests a significant portion (70%) of believers are questioning XRP’s ability to reach a new all-time high (ATH). This sentiment can be fueled by Fear, Uncertainty, and Doubt (FUD) circulating within the community.
Analyst Criticism: The analyst mentions hostility directed at analysts like them (50% of the XRP Army) for interpreting charts and potential outcomes (not controlling price movements).
Leadership Scrutiny: Egrag highlights that over 80% are doubting the roles of Ripple executives, Brad Garlinghouse and Joel Katz, with some suggesting a Ponzi scheme narrative.
Community Division: The tweet suggests a rift within the XRP Army, with one group focused on speculation and another on self-validation.
Technical Analysis: The analyst points to the extended Triangle chart pattern, which can signal prolonged periods of indecision.
Missed Opportunities: The tweet emphasizes that several Altcoins have reached new ATHs while XRP remains below $1, creating a sense of missing out.
Aside from the points above, the Analyst also encourages the community. Egrag emphasized the importance of patience, highlighting that time can be both detrimental and a key advantage.
Furthermore, the analyst reminded readers that technical analysis is indicative, not guaranteed. Egrag concludes his tweet with a message of unwavering conviction, stating they are prepared for success or failure.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
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The tweet by Egrag Crypto paints a picture of a frustrated XRP community grappling with stagnant price action and missed opportunities. While the future of XRP remains uncertain, the message encourages maintaining composure and acknowledging the limitations of technical analysis.
Ultimately, the success of XRP will depend on a combination of factors, including continued development by Ripple, market adoption, and investor confidence.
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