- One analyst has come forward suggesting that the FUD surrounding XRP might be intentional to influence market behavior.
- Despite legal challenges, Ripple has continued to attract interest from major institutions and has shown potential for future growth.
Ripple’s XRP, like the rest of the cryptocurrency market, has experienced a lot of volatility recently. At the time of writing, XRP is showing signs of recovery, swapping hands with $0.5368 marking a 0.88% surge in the last 24 hours. This price also represents a 2.63% decline in the past week.
This price volatility has ignited heightened discussions within the XRP community. Knowledgeable individuals suggest that the FUD surrounding the digital asset may be a calculated move to influence market behavior. One Crypto Pundit notably by the name NotFinancialAdvice (NFA) took to the X platform letting his thoughts fly. In his tweet, he made a brief video debunking the rumors about XRP.
Why I don’t believe #XRP FUD. 📺👹🤨 pic.twitter.com/KS93Cq9i5G
— NotFinancialAdvice.Crypto (@NFAdotcrypto) September 11, 2024
According to the crypto analyst, shapers of public opinion have perpetuated false or misleading information about XRP, thereby preventing small-scale investors from buying digital assets at lower prices, leaving it for the big wigs to accumulate more XRP at a discount.
[…] Certain narratives we perceive as naturally occurring could be part of an overall strategy,
Like other cryptocurrencies, XRP has faced a lot of FUD in the past. Earlier this year, one analyst highlighted the FUD surrounding this digital asset via a tweet. Despite numerous efforts to dispel them, XRP attorney Bill Morgan pointed out three recurring false rumors that persist within the XRP community.
According to the analyst, these 3 FUD included worries about price manipulation, legal issues, and the potential impact of Ripple’s stablecoin (RLUSD), which will, by the way, be launched “in weeks, not months.” Despite efforts to address these concerns, they continue to resurface.
It is worth mentioning that Ripple has had multiple wins when it comes to collaborations despite regulatory hurdles that have seen its legal team in and out of courtrooms for the past four years. Notably, Ripple has cemented its position as the future of digital payments. Worth mentioning, Ripple has caught the eye of organizations like the International Monetary Fund (IMF) and the United Nations (UN) and still attracts interest from major institutions.
Given Ripple’s impressive reputation as the future of digital payments, NFA hints at the involvement of powerful entities who want to control the public perception of this digital asset, especially intending to ward off retail investors.
Many of these [narratives] feel artificial or designed to discourage retail investors from buying this chosen token at a low price by introducing ideas engineered to cause uncertainty, he added.
Despite the negativity surrounding XRP, market analyst Steph remains optimistic about its future. Steph has identified a bullish technical formation on the daily chart, suggesting that an inverted head and shoulders pattern might be formed. This pattern indicates a potential trend reversal if XRP closes above the neckline around $0.65.
