Ripple’s Backing Cannot Propel XRP Price – Warn Experts

On Sep 4, 2023

In our industry, one would be forgiven for believing that a company’s support might single-handedly elevate a token’s worth. Recent comments from prominent voices within the XRP community, however, have shed light on this very sentiment concerning Ripple and its flagship digital asset, XRP.

The Ripple Impact: A Deeper Dive

Crypto Eri, a well-recognized XRP enthusiast, has voiced concerns over the popular notion that Ripple’s efforts alone can skyrocket XRP’s valuation. Dispelling this belief, she emphasized that her investments in XRP were never pinned on Ripple’s endeavors to bolster the digital asset’s price. A glance at the numbers reveals that Ripple’s sales and promotional activities influence only a fraction of XRP’s trading volume.

Digital Asset Investor’s Perspective

Unlike DAI, I don’t rely on the efforts of Ripple to build up the price of XRP. Never have, never will. Especially with accounting for single digit impact on volume. It’s surprising after surviving the SEC attack, anyone would subscribe to this reliance. https://t.co/XG2bA6qsva
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) September 4, 2023

Contrasting Crypto Eri’s stance, Digital Asset Investor offered a post highlighting several ambitious claims made by Ripple. Among them were assertions about XRP’s potential to be the lifeline in a global financial calamity, its comparison to esteemed currencies like the Swiss Franc, and ambitions of becoming the world’s reserve digital currency. Additionally, Ripple has even joked about international financial institutions like the IMF turning to digital currencies.

Lawyer’s Take: Ripple’s Promises vs. Real Expectations

Bill Morgan, a renowned lawyer with a favorable disposition towards cryptocurrencies, weighed in on the discourse. Responding to Digital Asset Investor, Morgan underscored that expecting gains purely based on Ripple’s activities could be misguided.

The back-and-forth between these leading figures only serves to remind investors to conduct thorough research and avoid being swayed by the backing of a single entity. While Ripple’s influence is undeniable, it’s clear that the path to XRP’s ascent involves a myriad of factors beyond just one company’s efforts. At the time of writing this article, XRP was in the red.

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