Tuesday, February 27, 2024
HomeCryptocurrencyIs XRP Dead Indeed? Community Debates XRP Prospects Amid Rising FUD

Is XRP Dead Indeed? Community Debates XRP Prospects Amid Rising FUD

XRP has found itself at the center of a heated debate within its community. This discord stems from concerns about its future performance, fueled by negative pronouncements and market volatility.

While some fear XRP is “dead,” others remain optimistic, citing the inherent resilience of the cryptocurrency market and the underlying value proposition of Ripple’s technology.

Read Also: Attorney John Deaton Addresses XRP Doubters, Says “FOMO Won’t Likely Kick in Until $2” 

XRP’s Status

The debate began with a post by prominent crypto analyst Nick (@NCashOfficial). Nick declared XRP a “scam” and pronounced it “dead,” highlighting its lagging performance compared to other altcoins.

However, Nick did not post this to bring down XRP. His pronunciation tapped into existing anxieties within the XRP community, echoing their disappointment, as another prominent figure did recently by calling on Ripple executives to do something.

A Tumultuous Market History

Nick drew attention to the FTX collapse from 2022, and its potential domino effect on major exchanges, as many expected the entire crypto market to fall apart. However, the crypto market refused to die after this major setback. Nick wrote, “This was peak fear, peak negativity, all hope was lost, and what happened next was January 2023.”

The market’s swift rebound in January 2023 was unexpected, reminding investors of the unpredictable nature of the crypto landscape. Nick stated that the eruption completely shut the bears down, and this explains the point he was making with his statement. When it seems like there’s no hope, XRP can still rebound.

Hope for XRP Holders

According to Nick, “When it comes to #XRP, it is and never will be an easy hold. Why? Because of times like these.” He is referring to XRP’s prolonged underperformance, and he stated that fear, uncertainty, and doubt (FUD) are flooding the social streets.

Nick also highlighted the fact that many are giving up on XRP ever reclaiming its all-time high. However, He believes all is not lost for XRP.

Read Also: Bank of America to Leverage Ripple ODL Services Once XRP Lawsuit Ends, Garlinghouse Affirms

He wrote, “The truth about this statement is that there will always be a basket of altcoins moving against your positions and it will feel like you picked the wrong ones.” He stated that comparing coins could drive investors crazy, arguing that even Bitcoin has not reached a new all-time high because the bull run is still in its early stages.

<

He believes that when Bitcoin reaches a new all-time high, the stall following that will send the money down to other altcoins. Closing out the post, he stated, “At the end of the day XRP will have its time in the sun.” He advised that the community stay away from “illogical nonsense.”

Meanwhile, another prominent analyst recently made a similar assertion about XRP being dead but showed its potential path to $239.


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
RELATED ARTICLES

Latest News & Articles