Messari founder attacks XRP amid the latest market-wide bloodbath that has caused a massive price collapse.
A popular saying goes, “Don’t kick a dog when it’s down,” but that probably means nothing to Messari founder Ryan Selkis, at least not when it comes to XRP.
Selkis discourages XRP purchases
Messari founder Ryan Selkis has dealt another blow to XRP. In a post On Thursday, December 19, Selkis made a joke suggesting that there is never a good time to buy the asset.
“Now that XRP has fallen below the value of Coinbase, Microstrategy and Softbank (combined), it looks like a good buy again.” he wrote.
The last criticism comes a few days later. he hit members of the XRP community as groups of bots worthless on
XRP plunges in Fed-led correction
Over the past two days, the cryptocurrency market has suffered significant losses and XRP has not been left out. The price of the asset has recorded a 21% drop from highs of $2.5921 on Wednesday, December 18 to lows of $2.0505 on Friday, December 20.
XRPUSDT Daily Candlestick Chart Source TradingView
The losses occur when the Federal Reserve looks ready to curb its quantitative easing measures, which promised to unlock more liquidity for risk markets such as cryptocurrencies.
Federal Open Market Committee (FOMC) meeting details released on Wednesday showed that, amid persistent inflation projections, the central bank planned to make just two interest rate cuts in 2025, down from the initial projection of four. in September 2024.
Still, the recent market volatility has not stopped some analysts from making bullish predictions for XRP. One of those analysts, “Amonyx”, has suggested that the asset could rise to the price of $251 if it can replicate its price action from March 2017 to January 2018. The asset recovered 60,000%, from $0.0055 to $3.31 during this period.
Meanwhile, another analyst, “Almost”, he warned that holding support at $2 could be key to XRP’s recovery.
The bullish calls come as XRP still has regulatory and political winds in its favor amid the incoming Donald Trump administration. At the same time, Onda RLUSD recently launcheda stablecoin that promises to unlock greater liquidity and sophisticated DeFi applications.
