XRP Faces Backlash Over Bitcoin Sabotage Claims but Holds Strong
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Ripple’s Alleged Role in Bitcoin’s Struggles
The controversy erupted when prominent Bitcoin advocates accused Ripple Labs of working against BTC’s long-term success. The accusations stem from Ripple’s involvement in the Greenpeace anti-Bitcoin campaign, which critics claim was an effort to portray Bitcoin as an environmentally harmful technology. Additionally, some believe Ripple lobbied lawmakers to promote Central Bank Digital Currencies (CBDCs), allegedly to advance its surveillance technologies.
Bitcoin supporters like Samson Mow and Jack Mallers have amplified these claims, intensifying the backlash against XRP.
XRP Holds Strong Despite Market Uncertainty
Despite these accusations, XRP’s performance has remained in line with the broader crypto market. While XRP has dropped 2.48%, major competitors like Ethereum (ETH) and Solana (SOL) have declined 3.37% and 5.87%, respectively.
Whale Investors Keep XRP Afloat
A major factor supporting XRP’s price is the continued interest from whale investors. Recent on-chain data revealed a surge in $1 million+ transactions, suggesting that large investors remain confident in XRP’s future.
With daily trading volume exceeding $5 billion, XRP has outperformed several rivals, indicating strong market support. As open interest continues to rise, XRP could maintain its bullish outlook despite ongoing FUD.