XRP Is GROWn, Ripple's Desak Community And Its Executives Are Responsible

XRP crypto assets. (Photo; Doc. Fifty Club)

JAKARTA - XRP, a crypto asset developed by Ripple Labs, has experienced a sharp price drop in recent months. This has led to disappointment and dissatisfaction among the fan community and XRP holders, which demands that Ripple and its executives take concrete steps to increase the value of XRP.

One of the most vocal XRP fans is Mack, a Dutch citizen who is active on social media. Through his Twitter account, Mack sent a message to Ripple, CEO of Brad Garlinghouse, CTO David Schwartz, and XRPL Labs, the team that created the XRP wallet called Xumm. Mack demanded that they immediately do something to overcome the XRP price crisis.

"We've been patient enough. It's time for you to move and be fast. Everything is going in the wrong direction with XRP," wrote Mack.

Mack claims to have invested a large amount of money into XRP every month, but doesn't see satisfactory results. He even admitted that he was starting to think about selling all the XRPs he had.

Mack's message received support from many other members of the XRP community, who were frustrated by XRP's performance. Some of them claim to have sold part of their XRP, because they feel hopeless anymore.

Even so, not everyone is pessimistic about XRP. A well-known XRP analyst who goes by the pseudonym Dark Defender, said he had experienced a similar situation in the past. He claims that XRP usually experienced a huge price spike after experiencing a deep decline.

Dark Defender suggested that XRP holders remain calm and focus on the facts, not on mere emotions. He believes that XRP still has great potential, and is supported by positive indicators.

XRP is currently trading at $0.5231 (IDR 8,175.66) with a 1.83% increase over the past seven days, but has seen a significant 16% drop in the last eight weeks, according to data from CoinMarketCap.

XRP also showed no significant movement at the end of 2023, while other crypto assets such as Ethereum and Cardano recorded an increase of up to 1,000%. In fact, the current price of XRP is almost the same as the price five years ago, which showed long stagnation.

The decline in the price of XRP was also influenced by a lawsuit filed by the US Securities and Exchange Commission (SEC) against Ripple and its two executives in December 2020. The SEC alleges that Ripple sold XRP as an unregistered securities offering and demanded compensation of US$1.3 billion.

Ripple denies SEC allegations, and says XRP is not a security, but a legitimate digital asset. Ripple also claims that the SEC has taken arbitrary and unfair action against XRP, and threatens innovation in the crypto sector.

The trial between the SEC and Ripple is still ongoing, and no final decision has yet been announced. The results of this trial will greatly determine the fate of XRP in the future, both in terms of law and market.