Ripple (XRP) Is An Impostor Among Other Cryptos - CoinMarketCap

Ripple is labeled as an imposter by Coinmarketcap. XRP holders, among other cryptos, are upset and accuse CoinMarketCap of having hidden agendas.

Since it began nearly two years ago, the Ripple vs. SEC court case has sparked a tremendous debate in the crypto world. As the court case progressed, many industry observers assumed that all members of the crypto community would sympathize with Ripple.

That is not the case, however. Instead, CoinMarketCap (CMC), an on-chain data aggregator site, slammed Ripple's native asset, claiming that XRP violates the objective of cryptocurrencies. On Friday, CoinMarketCap's official Twitter account humorously asked its followers to identify the impostor among the nine cryptos in the picture, using an image from the popular game Among Us.

Players are frequently asked to identify and call out the impostor among other players in this popular game. This notion was taken from the game and applied to cryptos by CoinMarketCap.

Following various remarks from the crypto community, The data aggregator network, Twitter, eventually called out the impostor with a series of malicious comments. When CoinMarketCap claimed that XRP was the impostor among the other digital assets, many of the comments expressed astonishment.

Because the founders and board members own more than 50% of XRP, CMC may have claimed that Ripple is centralized. As a result, they have the upper hand when it comes to making business judgments. Ripple is centralized, according to CMC, because the corporation holds roughly 60% of all XRP holdings (60B XRP tokens of out the total 100B XRP tokens in supply circulation). As a result, they have the upper hand when it comes to making business judgments. In addition, the creators placed 55 billion XRP tokens in a secure escrow account, from which one billion tokens are released monthly.

According to the platform, XRP is centralized since authorities regulate and govern its use and deployment. As a result, XRP cannot be considered a true digital currency. It contradicts the basic goal of cryptocurrency, which is to promote decentralization. "All other coins on this [list] are decentralized and are essentially 'people's crypto," CMC added.

Holders of XRP have expressed their displeasure.

Because the crypto environment is usually full of banters and memes, several crypto twitter users mistook CMC's tweets for one of them. The XRP community, on the other hand, did not trust it. They were enraged, as seen by CMC's phony tweet remarks.

"It's evident $XRP holders have to deal with the most absolute crap on ct," a notable XRPL validator with the username (@XRPGoat) tweeted in response to CMC's remark. Remember that in early 2018, this site abruptly withdrew # XRP's volume statistics from Korean marketplaces without warning. FUD like this smacks of hidden agendas!"

Other crypto twitter users claimed that CMC only made the contentious statement to attract attention.Many users, however, will most certainly remove their CMC accounts, with many of the deactivated accounts being from XRP holders. As of this writing, the price of XRP is $0.6399, down around 2% over the last 24 hours.

Share: