XRP’s Underperformance Ruffles Feathers As Community Asks Ripple To Do Something About Price
The XRP community is currently filled with discontent as concerns are on the rise over the prolonged underperformance of XRP’s price. Various community members have voiced their disappointment and criticism, urging Ripple, a world-leading crypto solutions provider, to take decisive action in addressing the challenges affecting the price of XRP.
XRP Enthusiast Demands Solutions To Price Declines
An XRP supporter and community member, identified as “MackAttackXRP” on X (formerly Twitter), has shared a post expressing his frustrations and rising apprehensions over the stagnant condition of XRP’s price. The community member revealed that the expected trajectory for the cryptocurrency was diverging, undergoing numerous declines or maintaining a fixed diminished state for an extended period.
I think it is high time to do something about the XRP price quickly. Here’s a sincere warning to @bgarlinghouse @Ripple & @XRPLLabs @JoelKatz because the community is starting to get restless. Things are really going in the wrong direction with XRP.
Let’s see, I’m bringing in… pic.twitter.com/WNg7I4nXKT
— 🇳🇱 MackAttackXRP® 🇳🇱 66K-XRP-Followers (@MackAttackXRP) February 9, 2024
Once a prominent player in the space, XRP held a significant position among the best-performing assets in the cryptocurrency space, trailing behind leading cryptocurrencies such as Bitcoin and Ethereum. However, the cryptocurrency is currently grappling with subdued market performance, struggling to match the pace set by trends within the broader crypto market.
Since 2019, the cryptocurrency witnessed massive declines in both its price and overall trading volume. Furthermore, after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, XRP experienced further declines as investor sentiment dropped and the token’s reputation took a major hit.
Ripple currently trading at $0.52064 on the daily chart: TradingView.com
Despite having the full support of its extensive community and finally gaining legal clarity after achieving a partial victory against the SEC, the cryptocurrency has been unable to make any noteworthy recovery. According to CoinMarketCap, the price of XRP at the time of writing is $0.52, a significant contrast from it’s all-time high of $3.84 in January 2018.
In response to the lingering price decline, Mack has taken a proactive stance, issuing a “sincere warning” to Ripple’s key figures – Chief Executive Officer (CEO), Brad Garlinghouse and Chief Technology Officer (CTO), David Schwartz. He urged them to implement more effective measures to enhance the value of XRP, highlighting the community’s growing restlessness and ongoing frustration with the cryptocurrency’s price.
XRP Community Slowly Loses Hope For Cryptocurrency
Similar to Mack, the majority of the XRP community has also expressed pessimistic sentiments regarding XRP’s extensive declines. Various XRP holders are beginning to lose confidence in the cryptocurrency and have opted to either sell off their tokens or refrain from purchasing more XRP.
I’m not selling but I’m definitely not buying anymore. Volume will drop if progress continues to be slow if not at all and voluminous selling activity occurs at “interesting” times
— Crypt0Fiend21 (@Crypt0Fiend21) February 9, 2024
An XRP community member disclosed that he had sold off 75% of his XRP holdings and plans to exit the market entirely. Mack, witnessing a decline in his connections, has also begun selling off his XRP holdings. Additionally, another member has stated that he would refrain from buying XRP tokens, expressing concerns that the cryptocurrency’s volume could drop further if the current decline persists.
I’ve already sold 75% of my bag and I’m going to exit very soon we’ve lived through super high risk and have not been rewarded for it
— Tom (@tomenater) February 9, 2024
Amidst the growing discontent, some community members argue that Ripple and its team have displayed a lack of consideration for the community’s sentiments. They claim that the company is only concerned about its internal developments and strategic objectives rather than the interest of retail investors.
They could absolutely care less about the “community”
— WhoAmI (@3CrownedKing) February 9, 2024
Do you really think ripple and team give a shit what you or I think? They are building regardless of what the community wants they will build what they want too. People are getting restless, well bye. If you know what’s being built buy hold and invest what’s is the had sort
— 🇺🇸XRP — Jason Jude (@UnionOperator) February 9, 2024
Featured image from Adobe Stock, chart from TradingView
