Despite XRP’s relatively stagnant price, bullish cases continue to be made for the token. This time, a member of the XRP community has alluded to a clip by a top executive to remind the community of the token’s potential amidst concerns about its underperformance. 

XRP Presents An Opportunity To Become Incredibly Wealthy

Versan Aljarrah, a prominent member of the XRP community, recently shared a clip on his X (formerly Twitter) platform. In the clip, Miles Franklin CEO Andy Schetman makes a case for XRP and how it can allow everyone to become “incredibly wealthy.” He noted how XRP’s price allows anyone to throw in a “modest amount of money” and still make good returns.  

Schetman also spoke about De-dollarization and warned about the need to embrace or get “rolled by the changes.” He suggested that tokens like XRP are a “great alternative to the US dollar.” De-dollarization is the process whereby the world moves away from the US Dollar as the chief reserve currency. 

Interestingly, XRP has long been projected as one of the currencies that could replace the US Dollar as the world’s reserve currency. Bitcoinist also recently reported that Ripple’s goal was to help XRP attain this position. Meanwhile, analysts have predicted that XRP will see incredible gains when that happens.

Therefore, Schetman could have been hinting at this when he mentioned how XRP could make anyone incredibly wealthy as it provides a better alternative to the US Dollar. 

XRP Community Losing Their Patience

The re-emergence of Schetman’s video comes at a time when the XRP community is becoming more frustrated with the crypto token’s underperformance. Bitcoinist reported how a community member known as ‘MackAttackXRP’ called out Ripple’s CEO Brad Garlingouse and warned him about the community’s restlessness. 

This move again highlights some community members’ belief that Ripple has a hand in XRP’s underperformance. Pro-XRP crypto YouTuber Jerry Hall had previously mentioned that he believed the crypto firm was suppressing the token’s price with their monthly XRP sales.

Meanwhile, the XRP community had also called on Ripple to burn its escrowed XRP tokens to boost their value. However, Ripple’s Chief Technology Officer (CTO), David Schwartz, explained that such a move would yield no “real benefits.” 

Whatever the case, it is evident that the community is losing patience and needs XRP to show some form of bullish momentum soon enough, or it could spark a trend where community members begin to dump their tokens. 

At the time of writing, XRP is trading at around $0.52, up over 2% in the last 24 hours, according to data from CoinMarketCap.

ripple xrp xrpusdt
XRP’s price trends to the downside on the daily chart. Source: XRPUSDT on Tradingview

Cover image from Dalle-E, chart from Tradingview

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *