XRP has shown a disappointingly lackluster performance. Despite myriad developments in the market, XRP’s price action remains rather muted, ruffling the feathers of some of the XRPArmy.
Some holders are now asking Ripple, the San Francisco-based startup behind XRP, to do something about the coin’s price.
XRP Holders Call For Action Amid Unexpectedly Painful Performance
A prominent XRP community member, going by the online moniker MackAttackXRP, has recently voiced his frustrations and dissatisfaction over XRP’s lethargic price action in recent years.
In a candid call to action aimed at top executives at Ripple, including CEO Brad Garlinghouse and Ripple chief technology officer David Schwartz, Mack stressed the urgent need for proactive action to address the XRP price issue.
Once the third-most valuable crypto behind Bitcoin and Ethereum, XRP has been grappling with sluggish price performance despite promises about revolutionizing cross-border payments. XRP now holds the sixth spot on the market leaderboard. While other major cryptocurrencies, such as Bitcoin, ether, and Solana, rocketed to new all-time highs in recent years, XRP has languished, failing to retake its January 2018 high of $3.84.
XRP has registered huge declines in both its price and trading volumes since 2019. The token saw a deeper correction after the United States Securities and Exchange Commission (SEC) initiated a complaint against Ripple in late 2020, alleging that the firm and its executives offered unregistered securities.
Despite a judge granting summary judgment in favor of Ripple in July 2023 by declaring that XRP was only a security when sold to institutional investors, XRP has failed to stage a meaningful rebound.
Investor Distrust In XRP
Members of the XRP community have responded to MackAttackXRP’s post, with many investors echoing his concerns.
One user by the name of Tom said he had already dumped 75% of his XRP stash as he had endured extremely high risk with zero reward.
Another XRP holder revealed that though he is not selling, he has no plans to purchase any more tokens as he believes the crypto’s volume will slump further if the ongoing decline continues. Others are convinced that Ripple doesn’t care about retail holders as it only cares about its developments and goals as a company.
Despite the current challenges facing XRP, a handful of community members are still optimistic about the long-term potential of the cryptocurrency.
