Prominent XRP influencer, Crypto Eri, recently shared her perspective in a tweet stating that the value of XRP cannot solely be driven to new heights by Ripple’s efforts alone. She emphasized that she is not an XRP investor who solely relies on Ripple’s endeavors to boost the digital asset’s price.
Furthermore, Crypto Eri pointed out that Ripple’s marketing and sales activities only contribute to a single-digit percentage of XRP’s trading volume. Her statement was in response to other prominent XRP figures who believe that Ripple’s business efforts will propel XRP to unprecedented levels. In a reply tweet directed at Digital Asset Investor (DAI), she expressed her differing viewpoint.
“Unlike DAI, I don’t rely on the efforts of Ripple to build up the price of XRP. Never have, never will. Especially with accounting for single-digit impact on volume.”
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Allegations Regarding Ripple’s Actions to Promote XRP
XRP influencer DAI recently took to Twitter to discuss why he is an XRP investor. He emphasized several significant statements that he claims were made by Ripple regarding the potential impact of XRP on the global financial landscape.
DAI mentioned that Ripple allegedly asserted that XRP could serve as a hedging asset during financial crises and that its ultimate goal is to become a digital currency that acts as a world reserve. Additionally, he highlighted Ripple’s purported statement about replacing SWIFT, the international payment messaging system.
“This is why I’m here. I believe them,” the XRP influencer stated.
It is worth noting that the “expectation of profits” is one of the four elements of the Howey test, which determines whether an investment qualifies as a security. Crypto Eri expressed surprise at the fact that some XRP enthusiasts continue to rely on Ripple’s efforts, considering the lengthy legal battle regarding the non-security status of XRP.
Related also: XRP Now Listed on Hong Kong-based, Decentralized Finance protocol
Ripple Only One of Thousands Building on XRPL
During the same discussion, Crypto Eri made it clear that Ripple is merely one among the many firms that are joining the XRP ecosystem to build on the XRP Ledger (XRPL). This statement was further supported by a court document shared by Morgan, a lawyer who is supportive of XRP. The document highlighted Ripple’s stance, reinforcing Crypto Eri’s claim that Ripple is just one player among the thousands contributing to the development of XRP and XRPL.
In a documented statement, Ripple indicated that the value of XRP is influenced by various factors, including retail speculation, projects being built on the XRPL, and the contributions of companies such as Ripple itself.
Given this understanding, experts caution against investing in XRP solely based on the belief that Ripple’s efforts alone will significantly increase its value. They suggest that relying solely on Ripple’s endeavors to drive the value of XRP could lead to an inaccurate investment assessment.
