XRP, the digital currency associated with payment company Ripple, has achieved a new all-time high of $3.65, but long-time supporters remain frustrated over years of delayed progress due to regulatory challenges.
The cryptocurrency community known as the “XRP Army” has expressed anger at the slow pace of price gains compared to other digital assets like Bitcoin and Solana during a seven-year period marked by legal battles with US regulators.
Years of Legal Battles
The frustration stems from a prolonged legal dispute between Ripple and the US Securities and Exchange Commission (SEC), which supporters say artificially suppressed XRP’s price and hurt retail investors.
“Seven years of waiting for progress because [of] stupid left-wing politics in our way through the SEC,” said MackAttackXRP, a prominent XRP supporter with over 87,000 followers on social media platform X.
Another community member, John Squire, explained that “the anger in the XRP community is mostly directed at the SEC, for artificially holding back the asset with a lawsuit that hurt retail investors the most.”
New Regulatory Environment
With a change in US administration and new leadership at the SEC, XRP supporters believe the cryptocurrency is positioned to catch up with gains made by other digital assets during the regulatory uncertainty period.
Technical analysis suggests XRP may face some short-term selling pressure at current levels, with the potential for a brief correction before any further upward movement.
Market Outlook
For XRP to reach the $20 price target some supporters hope for, the cryptocurrency would need to achieve a market value of approximately $1 trillion. This would make it more valuable than Ethereum, currently the second-largest cryptocurrency by market capitalisation.
The cryptocurrency market remains highly volatile, and digital assets carry significant investment risks. Prices can fluctuate dramatically, and investors could lose their entire investment.
