The cryptocurrency market is experiencing significant growth. Bitcoin, the biggest cryptocurrency in the market, recently reached a new all-time high above $89,950, and it isn’t showing signs of slowing down. The global cryptocurrency market cap has crossed $3 trillion, and amid this unprecedented growth, XRP has shown very little momentum.
XRP holders are expressing disappointment over their asset’s relatively modest performance during this bullish period, as the digital asset is still struggling under $1 despite bullish predictions.
The disparity becomes particularly evident when considering assets like Dogecoin, which has experienced a substantial 200% value increase in just one week, and pushed XRP down to number 7 in the rankings.
The situation has prompted XRP community members to direct their concerns toward Ripple’s leadership, particularly Chief Technology Officer David Schwartz. The discourse intensified following Schwartz’s recent discussion about investment contracts in the ongoing Securities and Exchange Commission (SEC) litigation.
Schwartz drew parallels between cryptocurrency and art ownership, stating that purchasing art doesn’t constitute an investment contract since artists have no legal obligation to enhance its value.
This comparison triggered responses from frustrated investors, including one who claimed that no one has profited from XRP in seven years. He accused Schwartz of making excuses and named him as the figurehead of the allegedly failed cryptocurrency.
Addressing these concerns, Schwartz emphasized that his personal XRP holdings have experienced identical value fluctuations as other investors, stating that his efforts to increase XRP’s value have consistently aligned with broader community interests.
Critics have specifically questioned Ripple’s strategy of selling substantial amounts of XRP while allegedly underinvesting in ecosystem development and developer incentives. Some community members argue that the company’s focus on banking partnerships has yielded insufficient results for token holders.
Legal expert Bill Morgan offered additional context to the situation. He explained that Ripple’s position is complicated by legal considerations.
The court’s previous ruling that Ripple’s programmatic XRP sales didn’t constitute investment contracts was partially based on limited evidence of direct retail promotion. Despite this favorable ruling, the SEC chose to appeal the decision.
While Bitcoin proponents can freely promote their assets without regulatory concerns, Ripple must exercise caution in its marketing approach, particularly while legal proceedings continue. Morgan argues that this regulatory disparity has created an unfair advantage for Bitcoin in the market.
However, Donald Trump has promised to fire SEC Chair Gary Gensler, and there are rumors that he will replace Gensler with a crypto-friendly SEC Chair, potentially ending the legal battle and freeing Ripple to promote XRP.
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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