Ripple Role in XRP Underperformance: A Detailed Analysis
Crypto pundit Nietzbux recently explored the XRP price underperformance from two hypothetical scenarios relating to Ripple business operation.
In a detailed post on X, Nietzbux commented on the prevailing negative sentiment about XRP amid its underperformance in a bull market. He agreed that XRPâs current trajectory in this bullish cycle is disappointing. However, he highlighted potential positive and negative scenarios to provide insights into the state of the market.
Notably, Nietzbux speculated from the angle of Rippleâs business activities related to XRP. He argued that Rippleâs routine XRP sales constitute most of its business revenue. Additionally, he claimed that the utility Ripple has established for XRP plays a role in maintaining its price range between $0.50 and $0.60 during this bullish cycle.
Some thoughts on the low sentiment in XRP.I understand the low sentiment. I am personally less than thrilled with where we are at. But logically, there are a couple of options to consider. One is the negative route and the other the positive.What do we know? We know thatâŠâ nietzbux (@nietzbux) March 28, 2024
Negative Scenario: Ripple Exists Only to Dump XRP
Taking these assertions into account, Nietzbux proposed a theoretical scenario in which Rippleâs sole purpose is to sell the XRP tokens from its escrow. In this scenario, he argued that XRP would have no substantial utility, no significant impact on the financial landscape, and no bank adoption.
Meanwhile, the commentator reflected on the potential entities to whom Ripple sells XRP. He highlighted possibilities such as institutions, venture capitalists, financial service firms, and potentially banks.
He envisioned that these buyers merely secure juicy deals on XRP from Ripple and promptly sell it off for quick profits. In this portrayal, Nietzbux characterized Ripple as essentially a mechanism for selling XRP.
$XRPÂ #XRP Â #RIPPLE
