Influential voices in the XRP community are beginning to caution against banking exclusively on Ripple’s endeavors for XRP price growth.
In a recent post on X, Crypto Eri (@sentosumosaba), one of the top influencers backing XRP, voiced her skepticism about depending solely on Ripple’s efforts to drive up the price of XRP. She made it clear that she doesn’t see herself as an investor who is dependent on Ripple’s efforts to build up the price of XRP, stating that she never has and never will.
Read Also: Amid Claims That Ripple Dumps XRP, Analyst Says “Be Proud To Be Blacklisted”
She pointed out that this was mostly because Ripple’s marketing and sales activities only contribute a small amount to the overall trading volume of XRP.
Unlike DAI, I don’t rely on the efforts of Ripple to build up the price of XRP. Never have, never will. Especially with accounting for single digit impact on volume. It’s surprising after surviving the SEC attack, anyone would subscribe to this reliance. https://t.co/XG2bA6qsva
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) September 4, 2023
This was said in response to a post from Digital Asset Investor (@digitalassetbuy) who quoted Ripple’s purported statements. He said the statements are solely why he trusts the project and still remains in the ecosystem.
Ripple’s Role in the Ascent of XRP
In his post, Digital Asset Investor.XRP shared his reasons for being an XRP investor. He cited some statements which were attributed to Ripple. Among these statements were claims that XRP could become a world reserve currency and Ripple could end up replacing SWIFT.
He also claimed that XRP could serve as a hedge against financial crises. All these claims were suggesting that Ripple could revolutionize the global financial landscape.
But Crypto Eri and other notable members of the XRP community have a different view on the issue. One such figure is Bill Morgan (@Belisarius2020), a lawyer and well-known supporter of XRP, who replied, “You expect profits from the efforts of Ripple.”
This is notable because Crypto Eri expressed her surprise at the fact that investors would stake their XRP investments on the efforts of Ripple after the multi-year legal battle with the SEC to establish XRP’s non-security status. She finished her post by saying, “It’s surprising after surviving the SEC attack, anyone would subscribe to this reliance.”
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Notable Bitcoin Investor With A Bag of XRP Predicts Moonshot Following Ripple Lawsuit Victory
XRP’s Value Depends on More Than Ripple
Expanding on her perspective, Crypto Eri added that Ripple is just one of hundreds, if not thousands of companies that would use XRP and the XRP Ledger (XRPL).
Bill Morgan added a reply, sharing a court document showing that Ripple agreed with Crypto Eri’s assertion. Ripple stated in that document that XRP’s value was dependent on retail speculation and the promise of what was being built on XRPL.
With this, experts in the field are advising caution when investing while relying solely on the efforts of Ripple to increase the value of XRP.
Follow us on Twitter, Facebook, Telegram, and Google News
