Amid Lawsuits, XRP Tokens Are Faring Bad In The Market as Ripple Investors React
Ripple’s XRP tokens are certainly not a great investment. At least that’s the take that most holders have right now. XRP is on a huge downtrend since its all-time high and is seeing its value drop. The token is trading at $0.25 USD at the moment, 90% down from its highest value, $3.30 USD.
Amid several lawsuits against Ripple, investors are starting to lose hope. Many of them are about to capitulate and leave the community for good because prices don’t seem to go up anymore.
A fan account called XRPBRad, for instance, affirmed that it would sell off its XRP and invest in other tokens. This person is not alone. The XRP market sentiment is considerably bearish right now and some people believe that the token may lose even 50% of its value in the future.
Tradeboi Carti, a Twitter figure, for instance, affirmed that the token could take a huge hit if it breaks its $0.27 USD support and it seems that this has happened.
The community is far from happy with the news. Some people are angry that Ripple Labs continues to release more XRP tokens in the market, which causes inflation and makes the price of the tokens go down.
Some users have even started a petition to make Ripple stop selling tokens to companies, which will obviously never happen. This gives more strength to the idea that Ripple is simply not so interested in its community as it claims and that the eyes of the company are really turned to the larger financial market.