- November 7, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Bill Morgan Defends XRP On Its Price Action; Emphasizes ‘Still Under Top 10’ appeared first on Coinpedia Fintech News
A relief rally is being witnessed by the entire crypto market this week as Bitcoin led the market by registering a new all-time high as it soared above $76,000 for the first time.
Notably, an XRP critic took to X where he has compared XRP’s price action to Bitcoin over the last year. He noted that while Bitcoin has doubled in a span of one year reaching highs of $75,970, XRP on the other side has plunged by nearly 25% in the same timeframe.
“Keep listening to people who tell you XRP has a bigger price return potential,” he voiced, expressing his disbelief in the claims that XRP has a greater price return potential noting the asset’s lackluster performance.
Bill Morgan Defends
In reaction to this post, Attorney Bill Morgan indicated X user Scam Detective seems obsessed with XRP.
Attorney Morgan indicated that the X user Scam Detective seems obsessed with XRP. He acknowledged XRP’s poor performance, confirming that the token ranks as the worst-performing coin among the top 10 cryptocurrencies over the past year.
The lawyer claimed that XRP’s underperformance arose from the legal brawl between the U.S. SEC and Ripple, which has been going on for 4 years, negatively affecting its price.
XRP Still Under Top 10
He also stressed the point that despite its underperformance, the asset has still maintained its foot among the top 10 biggest cryptos by market cap.
“It is also still in the top 10 and still subject to legal proceedings that have been on foot for 4 years. The fact is the market still associates XRP with Ripple and Ripple is still embroiled at the heart of the SEC’s unholy war against crypto,” which is having a bearish impact on its price according to him.
XRP is currently the seventh-biggest cryptocurrency with a market cap of over $30 billion. While it briefly lost this rank to Dogecoin yesterday, but immediately reclaimed it. It is currently trading at $0.5448, up by over 2.4% in the last 24 hours.
XRP community members are eagerly anticipating that a new SEC under Trump might settle the Ripple vs SEC case. However, if the settlement gets delayed further, then the lawsuit might linger until 2026, which would impact XRP’s performance negatively.
