Bitrue, one of the top cryptocurrency exchanges, has publicly voiced its support for XRP. This comes amid a significant decline across the cryptocurrency market, with Bitcoin and other leading tokens experiencing substantial price drops.
In a recent post on X, Bitrue addressed investors hesitant about navigating the cryptocurrency market. The exchange positioned XRP as a potentially lucrative option, telling users with doubts to “go all-in on XRP.”
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Mixed Reactions to Bitrue’s XRP Endorsement
Bitrue’s post advocating for XRP generated diverse responses from XRP enthusiasts on X. Some commended the exchange’s boldness in endorsing a particular cryptocurrency during market flux.
However, others expressed skepticism, with a few even suggesting the possibility of legal action against Bitrue if the recommended investment proves unsuccessful. One user stated that XRP has not done anything in five years, showing the frustration shared by many investors due to XRP’s prolonged underperformance.
Bitrue’s History of XRP Support
Bitrue has consistently demonstrated its strong belief in XRP’s potential. The exchange promotes XRP adoption more than any other digital asset on its platform. This support is evident in Bitrue’s past pronouncements highlighting XRP’s suitability for investment.
Furthermore, Bitrue regularly gauges community sentiment regarding XRP’s anticipated price surge, recently asking if investors would choose to buy more XRP over a Tesla. The exchange emphasizes its commitment to XRP, regardless of market conditions, by posting “XRP Forever.”
Beyond vocal endorsements, Bitrue has fostered XRP trading on its platform by introducing numerous trading pairs for the cryptocurrency. As of March 2024, Bitrue offered relatively 93 trading pairs involving XRP.
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The Market-wide Downturn
Bitcoin and Ethereum are down over 10% in the past month, and many other prominent cryptocurrencies have shown worse performance over the same period. XRP was not spared, dropping 9.4% over the past month to its current price of $0.4773.
Despite this surge, XRP is up 0.98% over the past month, showing signs of recovery. Bitrue’s staunch backing of XRP during a period of market uncertainty has surely boosted the bullish sentiment of some investors.
However, XRP’s future trajectory depends on certain factors, including the conclusion of the lawsuit with the U.S. Securities and Exchange Commission (SEC). Many prominent fans are confident that the digital asset will see a massive rally once the lawsuit ends.
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. Times Tabloid is not responsible for any financial losses.
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