Prominent crypto author Panos Mekras defends XRP investment, citing utility and innovation as key factors amid Ripple profit allegations.
Renowned crypto author Panos Mekras, known for his work “Understanding the Crypto Economy,” recently took to X to voice his perspective on why he is an XRP investor regardless of Ripple’s actions
In the tweet, Mekras emphasized his belief in XRP’s potential. He attributed the digital asset’s potential to its utility in the payment landscape and the high efficiency of its underlying technology, XRP Ledger (XRPL).
Moreover, Mekras pointed to the multitude of developers and projects actively contributing to innovations within the XRP ecosystem as a basis for his bullish outlook.
I hold $XRP because of its potential, which is derived from its utility and super-efficient technology it is based on, the hundrends of builders and projects building cool stuff and bringing innovations in the ecosystem – not Ripple, their developments/announcements or riddles. https://t.co/JSGs58S79P
— Panos ?{X} (@panosmek) September 29, 2023
Ripple Profit Allegation
Notably, Mekras’ comments were prompted by a critical tweet that suggested Ripple undertakes profit-driven motives concerning XRP at the expense of XRP investors.
Specifically, the critic insinuated that Ripple encouraged the long-term holding of XRP tokens while allegedly selling tokens to generate profits. In the critic’s view, Ripple lures people to invest in XRP so its executives can afford extravagant purchases like luxury cars and mansions.
The allegation read:
“Ripple is giving you yet another reason to hodl for years and solve riddles as they take profits and sell XRP to pay salaries, make Bradley, Chris and others millions so they can buy $2 million Porsches and mansions.”
Meanwhile, the underlying message was that the XRP community should emulate Ripple’s strategies by locking in profits if they boosted the price of XRP.
“If they pump the price, lock in profits. Follow their lead. They are leading by example,” the critic remarked.
In contrast, the crypto author Panos Mekras highlighted reasons XRP should be bullish about XRP beyond Ripple. He believes the collective efforts of numerous builders and projects in the XRP ecosystem are sufficient reasons to look past Ripple.
Ultimately, Mekras passed the message that XRP enthusiasts should avoid driving their conviction in XRP’s future from Ripple’s developments, announcements, or oft-repeated promotional phrasings.