Is XRP Dying Out?

February 11, 2024 10:00 am Comments

Is XRP Dying out as a digital currency?

At least a portion of the crypto community seems to believe so, and they aren’t hiding their FUD either. A vigorous debate is raging across social media regarding the viability of XRP and putting its future in doubt.

Naysayers point out that XRP is down double digits from its high that occurred 7 years ago, and that the popular altcoin has not kept up with the broader market.

Many forget to point out that Ripple Labs is securing key partnerships internationally. These same detractors also forget that it takes a minimum of 7 years for a stock to mature, with many companies seeing stock prices soar after a decade or two.

XRP is not a security, but the analogy stands. It takes a while for good investment opportunities to mature— Rome wasn’t built in a day. Nick, Crypto Crusader explained his anti-XRP stance in this lengthy X post:

“XRP IS DEAD & A SCAM! This is what the XRP crowd is yelling & screaming. The FUD & negativity is getting louder day by day. Remember what I always say, “the bottom won’t feel like the bottom.” The reason for that is because the overall sentiment will persuade you that it’s dead, you should move on, etc.

November 2022, the general consensus was that the snowball effect of FTX was going to bring down Binance, Coinbase, & so many other exchanges. This was peak fear, peak negativity, all hope was lost, and what happened next was January 2023. The market erupted and completely shut the bears down.

When it comes to XRP, it is and never will be an easy hold. Why? Because of times like these. Prominent names flipping bearish, FUD is flooding the social streets, and everyone has given up on the idea that it will never make a new ATH again.

The chart below is the XRP/BTC price chart. As you can see it’s basically in free fall. Now you might be saying “Nick all of these other altcoins are mooning, they are doing X amount of gains while XRP does nothing!” 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. You can’t be caught up in just comparing one coin to another in this space, or it will drive you crazy.

Another big thing to note is that Bitcoin itself didn’t even make a new all time high. We are still early into this run and we need to see Bitcoin make a new ATH and altcoin dominance rising once BTC tops. I see the emotions at peak levels around the XRPCommunity and it’s crazy to see at this point of the cycle. I will repeat it again, NOT EVERYONE WILL MAKE IT and emotions/patience is the biggest motivator of that.

There are many altcoins right now that aren’t doing much versus other altcoins and that’s because of money flowing into specific plays. All because a project isn’t pumping the way you think it should, doesn’t mean it’s a scam, dead, or a shitcoin. BTC.D is still over 50%+ and will continue to rally until BTC hits a new ATH and then we look for weakness. That is when money flows from Bitcoin to ETH and down the line with most altcoins pumping hard.

I see countless comments on my YouTube videos where it’s just negative posts regarding CSPR, QNT, HBAR, XDC, etc. Guess what these comments are all alluring to? PRICE ACTION, and that’s the only thing the retail crowd cares about, they don’t even look at the drivers behind price action.

At the end of the day XRP will have it’s time in the sun. Until then avoid falling into the trap of listening to illogical nonsense that’s fueled by price action expectations falling through.”

According to U Today:

Despite the fear, uncertainty and doubt (FUD) surrounding the coin, the XRP community remains optimistic, with the analyst himself suggesting that XRP could yet see better days, though not everyone will survive the tumultuous market.

Nicole Hermann provided a counter-point to the FUD: “Most of retails and CT sleep on XRP. They think its a dead coin. They dont know, THEY DONT UNDERSTAND. Who is pumping billions in market cap in XRP for almost 7 years? Wait till reality kicks in, when CBCDs become standard. Learn and read about mBridge (UAE, China, Brics.) And read about the plans of US central bank, and ripple cooperations.”

Forbes provided a price history for Ripple’s native currency:

In 2021, as the entire cryptocurrency market was caught in a bull market frenzy, XRP again provided significant returns to investors who got in at the right time. Drozdz recounts: “Within six months, the cryptocurrency had increased by an impressive 710% to $US1.96” Yet the following period was a steady downward trend, as XRP’s value gradually declined to $US0.3.

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