Why is XRP Price Rallying Today even as Bitcoin Supporter Calls Ripple ‘Scam’
The post Why is XRP Price Rallying Today even as Bitcoin Supporter Calls Ripple ‘Scam’ appeared on BitcoinEthereumNews.com.
XRP has demonstrated remarkable resilience, rebounding 13% over the past 24 hours from a year-to-date low of $1.95 on February 28 to $2.20 as of March 1. This surge comes amid significant market turbulence and critical commentary from prominent figures in the cryptocurrency space. XRP Price Rebounds 14% Despite Intense Market FUD In the face of prevailing market fear, uncertainty, and doubt (FUD), XRP investors have shown steadfast commitment, preventing a close below the crucial $2 support level. On February 28, Ripple price dipped to a new 2025 low of $1.95. However, bullish investors swiftly intervened, propelling the price back to $2.17 at press time—a commendable 14% recovery. XRP Price Analysis This resilience is particularly noteworthy given the broader market downturn and negative sentiment surrounding Ripple. The swift rebound underscores investor confidence in XRP’s long-term potential, even when faced with external criticism and market challenges. Ripple CEO Advocates for Diversity US Strategic Crypto Reserve As discussions around US Bitcoin strategic reserves rages, Ripple CEO Brad Garlinghouse has weighed in, emphasizing the importance of diversification and “maximalism”, hinting that the goverment should not adopt Bitcoin alone. “If a govt digital asset reserve is created—I believe it should be representative of the industry, not just one token (whether it be BTC, XRP, or anything else).” – Ripple CEO Brad Garlinghouse Garlinghouse’s perspective highlights the need for a balanced approach to digital asset reserves, reflecting the diverse and multifaceted nature of the cryptocurrency industry. This viewpoint advocates for inclusivity, with potential of to enjoy upsides from each of the various digital assets’ unique value propositions. Bitcoin Enthusiast Labels Ripple a ‘Fundamental Crypto Scam’ Contrasting Garlinghouse’s inclusive stance, prominent Bitcoin supporter Tuur Demeester expressed a starkly opposing view. Responding to Garlinghouse’s comments, Demeester declared, “Crypto scams like Ripple fundamentally undermine rule of law in…
Filed under: News - @ March 2, 2025 4:09 am