XRP Community Seeks to Push XRPL Development, Prices Stagnant

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XRP Community Seeks to Push XRPL Development, Prices Stagnant
  • Certain members of the XRP community are not happy with the token’s performance.
  • A Ripple supporter is working with a team to boost the adoption of the XRPLedger.
  • An XRP holder gave a “sincere warning” to Ripple asking them to bring value to the token.

Despite Ripple securing a partial win against the United States Securities and Exchange Commission (SEC) last year, the price of the XRP token remains stagnant, unable to make it to the $1 price level. As a result, the community is now growing restless. 

An XRP holder on social media platform X with over 66,000 followers issued a “sincere warning” against Ripple, its CEO Brad Garlinghouse, CTO David Schwartz, and XRPL Labs. The twitter user by the pseudonym MackAttackXRP stated, “things are really going in the wrong direction with XRP,” and that the executives should do something for the XRP holders or they would start selling.

“Let’s see, I’m bringing in so much money every month, but my connections are starting to drop, and I’m starting to sell!” Mack said on X.

On the other hand, digital asset enthusiast Bill Morgan stated that the XRP community “has vigorously asserted loudly for 4 years [that] it doesn’t expect profits from the efforts of Ripple.” Morgan believes that the warning is not applicable to the holders of the XRP cryptocurrency. 

In contrast to Morgan’s statement, another twitter user noted that Ripple has been making significant profits while selling XRP tokens to retail investors. Despite the court’s ruling that XRP is not a security when sold to retail investors, the holders of the altcoin do not see much movement in the price of XRP, which is currently worth around 50 cents, as per CoinMarketCap.

“Ripple spends (5) million on a party and the XRP zealots think Brad is their loving benevolent father,” said the user in a sarcastic comment. 

In response to the XRP community losing faith in Ripple, Morgan said that he would rather take steps to increase the effectiveness of XRPLedger instead of waiting for Ripple to make the price of XRP increase. 

Morgan announced that he would help a dedicated team of volunteers at Wave of Innovation, a not-for-profit collaborative team of XRP and XRPL enthusiasts, to “arrange an XRP conference focusing on innovation and development on the XRPL,”.

He emphasized the potential benefits of the initiative. Morgan noted that while it may not have an immediate impact on the price of XRP, the grants program funded by event proceeds could spur development within the XRPL. This, in turn, has the potential to drive increased demand for XRP, ultimately benefiting the ecosystem.

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