Why Ripples XRP Price Hasnt Hit $100 Despite Super Bullish Sentiments Pundit Explains
As the ongoing debate over XRPs potential breakout from its prolonged consolidation heats up, a prominent crypto pundit has offered a surprising perspective.
On Tuesday, popular crypto analyst Levi Rietveld pointed the finger at respected industry figures, accusing them of unfair criticism and undermining XRPs reputation, which he claims is the reason behind its failure to reach the long-anticipated $100 price target.
There is a reason why XRP is not $100 per coin, and that reason is because we have people who constantly spread misinformation, which makes it harder for us to get mass adopted, the analyst stated.
Notably, Levi particularly denounced recent comments by Raoul Pal, a well-known investment strategist and the founder of Global Macro Investor. According to Levi, Pal has a massive influence within the cryptocurrency community and has been spreading what Levi deems as misinformation about XRP, causing damage to this cryptocurrency and the rest of the industry.
Notably, in a previous video, Pal had stated that while he hopes the XRP community is right about the cryptocurrencys potential, he believes it is merely a matter of hope and not a sound investment strategy.
I dont want to get attacked by people online for this but I just feel like youre being done a disservice by being an occult, stated Pal. our job is to be mercenaries. Were in the job to make money not to be a cult. Cults dont make money except for the leaders. I know it hurts people when I say this Cardano, XRP theres a whole bunch of these.
Pal suggested that XRP holders should instead focus on better narratives around cryptocurrencies like Ethereum and Solana.
Levi, however, strongly disagrees with Pals assessment. He argues that XRP has outperformed many other top cryptocurrencies, including Solana, over the past month. Furthermore, the pundit points out that XRPs recent legal victories, such as being ruled non-security in the SEC vs. Ripple lawsuit, have provided much-needed clarity for the entire cryptocurrency industry.
XRP fundamentally is far superior than 99.99% other crypto projects that are in existence today and they have a lot to back it unlike some other projects out there, Levi stated. He also aimed for Pals previous support for the now-collapsed Terra ecosystem, questioning the credibility of Pals investment advice.
Levis remarks garnered support from Bill Morgan, a well-known XRP community member, who concurred, stating, Endless FUD against XRP and the impact of the lawsuit may be factors inhibiting wider institutional adoption and higher prices for XRP.
Morgan, however, emphasized that while these factors may play a role, they dont fully explain XRPs price behavior over the past seven years. This behavior often mirrors broader crypto market movements, particularly in response to Bitcoins fluctuations.
Meanwhile, XRP continued its sideways trading on Wednesday, hovering around $0.53 after a 1.01% surge over the last 24 hours.
Text source: ZyCrypto
