Over the past 120 weeks, XRP has displayed a notable range of price movements, reflecting the broader volatility of the cryptocurrency market.
A recent post by Saul (@uptownsaul), a member of the crypto community on X, highlighted this period with an accompanying chart, sparking diverse reactions from the community.
Saul shared a chart showing a broader range than the 120 days he specified. Starting from June 2022 to October 2024, XRP’s price experienced fluctuations that have intrigued and frustrated investors alike.
According to the chart, XRP’s price began at approximately $0.28 and rose to $0.53, marking a period of significant growth amidst market volatility. Despite this upward trend, some community members remain critical of the digital asset’s overall performance.
Community Reactions
One user’s comment encapsulated a common sentiment: “120 weeks to go from .52 to .53.” This remark shows the frustration some investors feel regarding the perceived slow growth of XRP.
Saul promptly responded and corrected the user by stating, “28 to 53,” highlighting the more substantial increase from $0.28 to $0.53.
The same user argued that this was a “cherry-picked stat,” emphasizing a brief period when XRP was at a five-year low.
Another user commented on the asset’s poor performance, noting, “The most stable of coins creating the most unstable investors.”
This comment reflects the broader sentiment of XRP failing to leave the $0.5 level. Although Ripple is in the process of launching its stablecoin RLUSD, many investors have called it a stablecoin because of this and the community is hopeful that the digital asset will prove them wrong.
The crypto community also expressed skepticism towards the promotional tactics surrounding XRP.
One user remarked, “Moon boys and exchanges the entire time have been shilling this shit to go to $1000,” pointing out the unrealistic price predictions often touted by some promoters and exchanges.
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Is XRP Being Suppressed?
A recurring theme in the comments was the idea of price suppression. Multiple users reiterated this term, suggesting that external factors might be intentional in keeping XRP’s price low.
This belief is prevalent in crypto communities, where regulatory actions, market manipulation, and large sell orders are often cited as potential suppressive influences.
However, Ripple Chief Technology Officer (CTO) David Schwartz has debunked the price suppression rumors multiple times.
Although its price has struggled due to multiple reasons, there is no active price suppression, and experts believe a massive rally is just around the corner.
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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