Altcoins

Expert Says XRP Army Now More Frustrated about XRP Price than During SEC Lawsuit

A notable figure in the crypto sphere has drawn attention to the prevailing frustration among XRP enthusiasts amid XRP’s consistent price underperformance.

Recently, Yassin Mobarak, founder of Dizer Capital and a prominent figure in the XRP community, took to X to express deep concerns about the dominant mood within the XRP Army.

XRP Army Deflated and Angry

Mobarak stated that the XRP Army is experiencing a level of hopelessness surpassing even that witnessed during the time the U.S. government threatened XRP’s existence. Mobarak conveyed his observations by stating:

“I’ve never seen so many in the community so deflated, so frustrated and angry; hopelessness permeating through many posts.”

Having been in the #XRPCommunity for a very long time, I can honestly say I’ve never seen so many in the community so deflated, so frustrated and angry; hopelessness permeating through many posts.

This is actually worse than the time we were in the midst of fighting the SEC…

— Yassin Mobarak 🪝 (@Dizer_YM) January 21, 2024

According to Mobarak, the current level of grief surpasses even the challenging times during the lawsuit with the U.S. Securities Exchange Commission (SEC). He reminisced, highlighting the community’s united front and determination during the legal challenge.

Specifically, he pointed out the collective unity around the vision of a Ripple triumph as the key to reaching “the promised land.” The triumph materialized, with XRP freed from the regulatory, pending its journey to the promised land.

However, Mobarak now laments that this once-potent vision is being shattered by the harsh reality of XRP’s recent struggles. The founder pointed out that the XRP community is witnessing unique impotence in XRP.

Why This is Happening

In particular, this observation comes at a time when competing cryptocurrencies are riding a formidable wave, leaving XRP.

For instance, the crypto market commenced a pre-bull market rally in the last quarter of 2023. During this period, XRP rivals, such as Solana (SOL), Cardano (ADA), and Avalanche (AVAX), saw price gains exceeding 200%.

Meanwhile, XRP maintained a relatively stagnant price level, showing minimal upward momentum throughout the same timeframe.

Mobarak pointed out that this stark discrepancy has led to a sense of deflation and frustration among many members of the XRP community who harbor deep affection for the coin.

He concluded his commentary with a thought-provoking quote, stating:

“There are defining moments in a life when faced with the choice of giving up or carrying on.”

Significantly, crypto experts have underscored that XRP’s disappointing performance is closely tied to its limited adoption within the crypto developer community.

Illustratively, The Crypto Basic has disclosed that XRP boasts only 136 active developers. This contrasts Ethereum’s 7,864 and Polkadot’s (DOT) 2,100 within their respective ecosystems.

Source

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