rewrite this content using a minimum of 1000 words and keep HTML tags
A crypto expert has claimed that XRP’s survival over the years was not because of Ripple Labs’ efforts but due to the loyalty of its community. The remarks highlight the role of the XRP army, a group of long-term holders and dedicated supporters who, despite frustrations, have played a decisive part in keeping the token afloat through years of legal disputes and market challenges.
Why Ripple’s XRP Survived All These Years
XRP has become a topic of discussion within the crypto community due to its connection with Ripple and its dedicated army. A crypto market expert known as ‘Crypto Bitlord,’ took to X social media on Tuesday to highlight why XRP didn’t collapse years ago despite its controversial history.
According to him, the true reason behind XRP’s survival was the unwavering support of its community rather than Ripple itself. Crypto Bitlord explained that without the XRP army, Ripple would have failed years ago. He pointed out that from 2013 through 2021, the crypto company allegedly sustained itself by consistently selling tokens, a practice that he claimed was absorbed mainly by retail investors.
In his view, the constant buying from the XRP army kept the cryptocurrency alive and maintained liquidity during turbulent times. The crypto expert further suggested that with the support of retail participants, XRP could have overtaken Ethereum (ETH) in market capitalization, but it failed to do so due to Ripple’s alleged history of token dumpings.
Interestingly, Crypto Bitlord’s statement came in response to a heated remark made by another crypto community member, ‘BuryMeBig.’ The commentator had vehemently argued that Ripple does not care about the XRP army, despite the community’s role in supporting the company during difficult moments, including its recently concluded legal battle with the US Securities and Exchange Commission (SEC).
Many members agreed with BuryMeBig’s statement, recognizing that while Ripple has operated primarily as a business and software company, XRP holders maintained different expectations, viewing the token as a potential for life-changing gains.
Crypto Bitlord himself expressed frustration with XRP’s performance over the years, revealing that if the cryptocurrency ever drops back to $2, he would liquidate his holdings entirely. After going long on XRP for 12 years, the crypto market expert admitted to being disillusioned by the lack of substantial growth compared to other leading cryptocurrencies.
XRP Chart Points To Possible Short-Term Gains
In other news, crypto market analyst Don shared a technical analysis on X, predicting short-term bullish targets for XRP. His chart outlines two potential levels for XRP’s next rally, setting price expectations at $4.45 and then $5.48.
Don’s chart analysis reveals that XRP has been trading within a long-term ascending channel. After experiencing a strong upward move earlier this year, the altcoin entered a corrective phase marked by a descending wedge pattern. If XRP’s price breaks out from the wedge pattern, it could resume its climb toward the upper resistance of the channel, aligning with Don’s near-term bullish targets.
Featured image from iStock, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this
Source link
