XRP Price Risks Drop to $0.47 as Analyst Calls Ripple ‘Scam’
The post XRP Price Risks Drop to $0.47 as Analyst Calls Ripple ‘Scam’ appeared on BitcoinEthereumNews.com.
XRP price has displayed wobbly performance late after encountering local resistance, which caused a notable retracement. The markets are generally optimistic but cautious as the Bitcoin Fear and Greed Index rose from 33 to 37 in the last 24 hours. Initially, investors speculated about the Trump-Harris debate’s impact on crypto and the price of XRP. However, the duo refrained from mentioning crypto-related matters in their debate, resulting in an anti-climactic evening for the crypto community. Analyst Calls XRP Ripple Scam On the macro scale, the price XRP is trending upward, albeit slightly, making it almost unnoticeable. There is definitely not much momentum in the market right now, and the insufficient buy pressure may not be enough to push the XRP price higher soon. Finance expert Rajat Soni called XRP a ‘slave coin,’ citing it was anything but decentralized. Soni criticized XRP’s association with centralized financial institutions like banks and Central Bank Digital Currencies (CBDCs), which limit the financial freedom inherent in decentralized networks. XRP is a scam. Banks will never use XRP. They will use some form of USD or #Bitcoin Let me explain: — Rajat Soni, CFA (@rajatsonifnance) December 18, 2023 Soni advocated for Bitcoin, whose on-chain data suggests it may be nearing its next bull run as the go-to decentralized solution due to its autonomy compared to XRP. Soni says if XRP is banned in the United States, its value could plummet. XRP supporters fought back, noting that Ripple would shape the future of finance and that Bitcoin fees are continuously rising, limiting the network growth. XRP Price Analysis The price of XRP displays a bearish structure with a bear flag formation, indicating a potential continuation to the downside. The Ripple price is currently testing the lower boundary of this pattern, suggesting a breakdown is imminent. The Chaikin…
Filed under: News - @ September 11, 2024 5:29 pm