XRP’s relative lack of movement has generated significant FUD across the cryptocurrency ecosystem, leading to some of the altcoin’s critics referring to it as a “dead coin.” Ripple’s CEO Brad Garlinghouse has expressed frustration about XRP’s current state despite its status as a cryptocurrency with a well-defined regulatory status in the U.S.
A U.S. Judge declared that XRP is not a security for secondary transactions in a July 2023 court ruling. Following the judgment, the embattled cryptocurrency’s price soared over 100% in less than 24 hours, reaching a seasonal peak of $0.93. However, the price didn’t stay high for long, as XRP dropped by about 50% shortly afterward and has remained in that range for several months.
Meanwhile, Garlinghouse has expressed surprise at the non-recognition of XRP’s regulatory status despite being relisted on major U.S. exchanges like Coinbase (NASDAQ:COIN), Gemini, Crypto.com, and Kraken. Grayscale’s investment products also reinstated XRP, but the altcoin remains within the post-July 2023 levels.
BarriC, a renowned XRP supporter on X, recently shared his opinion on XRP’s potential and debunked the notion that the altcoin’s price has been stagnant since 2017. In a recent post, BarriC highlighted XRP’s price ranges across different seasons, showing how the cryptocurrency has performed over the years despite facing significant challenges.
The pro-XRP commentator noted that the altcoin performs differently than the rest of the crypto market because of the Ripple lawsuit and delistings that reached peak FUD and hysteria in 2021. According to BarriC, XRP has not registered new all-time highs since its initial surge in 2018 because of the challenges.
Furthermore, he noted that anyone pushing the narrative that XRP’s price is stagnant is lying, advising crypto users to look into the crypto project’s future and expect an explosive move in the next bull run.
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Source: Cryptocurrency - investing.com
