Are XRP whales optimistic with XRP? People call it a “Loser Coin”

On Mar 18, 2024

Top flagship crypto asset XRP struggled badly amid the crypto bull run. It was the only XRP coin which struggled badly to show a big rally this year.

XRP is a Proof-of-stake (PoS) Cryptocurrency which is mainly known for its use in the cross-border payment services by Ripple firm. Ripple has been under legal hurdles since Dec 2020, as the United States Securities and Exchange Commission (SEC) filed a suit against the company over the sale of $1.3 billion worth of XRP tokens. So far Ripple is standing in a better position in this legal fight but legal experts believe Ripple may face a $100 million fine in this battle.

The current trade price of XRP coin is $0.61 & this trade price is only 0.6% higher over the last 3 months. In short, no rally in the trade price of this token has been seen in 2024.

$XRP coin seems ready to consume all the corrections, in this #Crypto bull run pic.twitter.com/uZ0S5jpu4P
— Bitcoinik (@Bitcoinikdotcom) March 18, 2024

In June of last year, this token surged 100% following the court ruling in the Ripple vs SEC suit, in which Ripple firm secured a partial win in the legal battle.

The calmness in the trade price of this token amid this bull raised multiple questions about the future of this token. No doubt that the trade volume of this token is very high but it seems people are not ready to go with those crypto tokens which are not engaged in new development activities e.g. Artificial intelligence (AI), Web3, Metaverse, GameFi, etc.

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Just a day ago, an intense discussion between Crypto traders & XRP coin proponents was seen, where we can see that the XRP army is still optimistic but other crypto investors are not optimistic about this token.

Didn’t realize that! Maybe we can think through this puzzle together. I wonder what happened 8 months ago that would make it go up then down again? Anything major? I’m guessing not, since as you’ve established, it’s a loser’s coin meant to be shorted.
— ADingoAteMyXRP ⚫ (@ADingoAteMyXRP) March 16, 2024

Another XRP proponent appreciated the XRP coin as the greatest payment Cryptocurrency, which is under full legal clarity in the US jurisdiction.

The crazy riddlers have put some people off XRP.

XRP is a great digital asset for payments (speed, cost, transactions per second). The fundamentals are incredible for local or overseas payments.

Legal clarity for the most part has been provided that XRP is not a security in… pic.twitter.com/KXgwMPOJ5p
— Kieran Kelly 🏴󠁧󠁢󠁥󠁮󠁧󠁿🇧🇧 (@kieranmlkelly) March 15, 2024

In late 2023, Many reports circulated across the crypto sector over the potential chances of XRP spot ETF applications. Later some reports claimed that Ripple soon may go public, just waiting to end the legal battle with the SEC.