Crypto commentator Levi Rietveld recently attempted to address why XRP has been an underwhelming crypto asset for several years.
In his view, certain negative influences have contributed to XRP’s inability to reach the $100 mark. In a recent video, Rietveld focused on the role of misinformation and fear, uncertainty, and doubt (FUD) in shaping XRP’s market performance.
Specifically, he cited comments by Raoul Pal, a well-respected figure in the crypto community, as a case study.
“FUD” from the Likes of Raoul Pal Hindered XRP
Recently, Pal suggested that XRP is outdated and that investors should move on to newer cryptocurrencies or more trendy narratives like those around Solana.
Rietveld, who has often aligned with Pal’s views in the past, expressed disappointment in Pal’s remarks. He labeled them as misinformed and potentially harmful to the XRP community.
According to Rietveld, Pal’s statements reflect a misunderstanding of XRP’s technological advancements. He highlighted that, contrary to Pal’s claims, XRP has been outperforming other major cryptocurrencies like Solana in recent weeks, holding steady despite broader market downturns.
Indeed, when observing XRP and Solana over shorter time frames, XRP clearly has the upper hand. For instance, XRP posted positive performance over the last 30 days and a more impressive 60-day growth of 28%. Meanwhile, SOL is down by 9% and 5% over the same time frame.
However, on a yearly scale or year-to-date timeframe, Solana significantly outperforms XRP, with XRP wallowing in the red.
Notably, Rietveld emphasized that XRP’s technological advancements, particularly in cross-border payments, are key reasons to remain bullish on XRP.
Refuting Pal’s Characterization of XRP
Furthermore, the XRP pundit refuted Pal’s characterization of XRP as a relic from previous bull markets. He argued that such claims overlook the unique hurdles XRP has faced, such as the legal battle with the SEC.
Rietveld stressed that the lawsuit has not only tested XRP but has also provided valuable clarity for the entire industry.
Interestingly, Rietveld brought attention to Pal’s past endorsement of Terra Luna, which collapsed after being touted as “risk-free.” He suggests that this historical misstep calls into question Pal’s current judgments on valuable crypto projects.
Call to combat XRP FUD
Essentially, Rietveld believes that FUD, along with the lawsuit, has significantly prevented XRP from reaching as high as $100.
In conclusion, Rietveld urges viewers to stay informed and share accurate information to counteract the spread of misinformation and support XRP’s potential.
Opposing View
Meanwhile, other XRP community pundits, like Attorney Bill Morgan, have disagreed with Rietveld’s assessment. Morgan argues that while FUD and the lawsuit may have contributed, they are only part of the reason.
According to him, nobody really knows or can fully explain XRP’s price behavior over the last seven years.
You hammered @RaoulGMI but there was an inconsistency in your thinking about whether the lawsuit impacted on XRP.
At the start of the video you state that the specific reason for XRP not hitting a high price and being more widely adopted by institutions is the FUD about XRP, in… https://t.co/0kxTyCjrfH
— bill morgan (@Belisarius2020) September 3, 2024
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