{"id":621,"date":"2019-07-04T07:48:54","date_gmt":"2019-07-04T07:48:54","guid":{"rendered":"https:\/\/techcavit.com\/?p=621"},"modified":"2019-07-18T22:08:21","modified_gmt":"2019-07-18T22:08:21","slug":"crypto-analyst-bashes-xrp-calls-the-cryptocurrency-scam","status":"publish","type":"post","link":"https:\/\/techcavit.com\/crypto-analyst-bashes-xrp-calls-the-cryptocurrency-scam\/","title":{"rendered":"Crypto Analyst Bashes XRP, Calls The Cryptocurrency &#8220;Scam&#8221;"},"content":{"rendered":"\n<p>Popular crypto analysts voice his opinion about the XRP cryptocurrency in a recent tweet, bashing the third most valuable cryptocurrency on <a href=\"https:\/\/twitter.com\/Don_Junior13\/status\/1145495532132921344\">Twitter<\/a> in a reply to Whale_Alert&#8217;s notification about Ripple&#8217;s XRP release from escrows wallet.<\/p>\n\n\n\n<h2>XRP is a Scam!?<\/h2>\n\n\n\n<p>A popular crypto analyst known for his vivid analysis on cryptocurrencies, most especially bitcoin, bashes the third most valuable currency in recent Tweet. @Don_Juniors13, as he&#8217;s known on Twitter, questions Ripple&#8217;s move, releasing $1 billion XRP tokens from its reserve &#8211; the escrow wallet.<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Every month they dump large amounts of XRP into the market why the price never moves up with other major alts. Scam! If you ask me<\/p>&mdash; Don_Junior13 (@Don_Junior13) <a href=\"https:\/\/twitter.com\/Don_Junior13\/status\/1145495532132921344?ref_src=twsrc%5Etfw\">July 1, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>In his opinion, Don Junior believes such movement should affect the XRP positively, thereby concluding that the XRP was nothing but a scam and a &#8216;shitcoin&#8217;.<\/p>\n\n\n\n<p>Don Junior, whose tweet didn&#8217;t go unnoticed had responses from the crypto community; some in favor and some against. However, one of the commenters, by the name RivAngE highlighted interesting points why XRP&#8217;s price might not be positively affected after each release. In RivAngE&#8217;s opinion, most of the released XRP goes back into escrow.<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">1) <a href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$XRP<\/a> coins are being destroyed with each tx, the coins released from escrow are of the same value as the BTC mined every month.<br>2) Those coins never end in the market but are used in OTC deals. Usually a lot of these coins are locked back in again.<\/p>&mdash; RivAngE (@RivAngE) <a href=\"https:\/\/twitter.com\/RivAngE\/status\/1145590875080273920?ref_src=twsrc%5Etfw\">July 1, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2>The Purpose Of Released Funds<\/h2>\n\n\n\n<p>According to a report released by Ripple, it was clear that Ripple&#8217;s main aim of releasing the funds was to improve the ecosystem.<\/p>\n\n\n\n<p>The report stated, the development team only used 700 million XRPs out of a combined 3 billion tokens released out of the escrow wallet between January and March of 2019.<\/p>\n\n\n\n<p>This was approximately $169.42 million dollars at the time. The report also stated that the unused funds, 2.3 billion XRPs were returned and put into a new escrow contract.<\/p>\n\n\n\n<p>It was alleged that the used funds went into different XRP-centric apps that will be beneficial to the community and the XRP cryptocurrency in the long run.<\/p>\n\n\n\n<h2>XRPs Price Unaffected By Founders Activities<\/h2>\n\n\n\n<p>As rightly noted by Don Junior, the recent fund&#8217;s movement has made no significant effect on XRPs price whatsoever.<\/p>\n\n\n\n<p>Though XRP&#8217;s price has rallied significantly, setting a new YTD high, in the past 24hrs, the price of XRP has seen a 3.38% loss.<\/p>\n\n\n\n<p>At the time of reporting, XRP trades at $0.39 with a market capitalization of over $16 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Popular crypto analysts voice his opinion about the XRP cryptocurrency in a recent tweet, bashing the third most valuable cryptocurrency on Twitter in a reply to Whale_Alert&#8217;s notification about Ripple&#8217;s XRP release from escrows wallet. XRP is a Scam!? A popular crypto analyst known for his vivid analysis on cryptocurrencies, most especially bitcoin, bashes the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,32],"tags":[102,380,843,814],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 (Yoast SEO v19.5.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Analyst Bashes XRP, Calls The Cryptocurrency &quot;Scam&quot; - TechCavit<\/title>\n<meta name=\"description\" content=\"Popular crypto analysts voice his opinion about the XRP cryptocurrency in a recent tweet, bashing the third most valuable cryptocurrency on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/techcavit.com\/crypto-analyst-bashes-xrp-calls-the-cryptocurrency-scam\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst Bashes XRP, Calls The Cryptocurrency &quot;Scam&quot; - 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