An intriguing piece of artwork shared by Ripple CEO, Brad Garlinghouse, on the social network X has sparked a debate within the XRP community. The image, featuring a solitary chimpanzee holding a sandwich with the words “Laugh now, but one day XRP will feed the world,” has divided opinions between optimism and skepticism.
The artwork could be seen as a reference to the ongoing legal battle faced by XRP, or as a hint at future innovations that may revolutionize the cryptocurrency space. Garlinghouse revealed that the piece had been adorning his wall for some time and decided to share it now due to recent market movements, possibly indicating a sign of confidence for XRP holders.
Amelie, an influential figure within the XRP community with over 42 thousand followers, expressed pride in owning the asset, considering it as one of the largest ever created. Conversely, JackTheRippler, another prominent community member with over 216 followers, compared XRP to Bitcoin, suggesting high expectations for its future.
However, not everyone shares this optimistic view. Some users have voiced discontent, with one trader stating that they have no intention of acquiring more of the coin due to disappointment with its price performance over the years.
The situation for XRP in the market remains uncertain, with the price moving sideways since mid-April without a clear direction. Moreover, significant XRP transactions have been observed recently, including a transfer of over 30 million XRP (equivalent to over $15 million) to the Bitso exchange, as well as a possible mass sale of 25.8 million XRP.
Ripple’s ongoing legal battle against the SEC also contributes to the climate of uncertainty. However, the recent passing of the Financial Innovation and Technology for the 21st Century Act (FIT21) in the US House has reignited some optimism. This new legislation promises greater regulatory clarity, which could directly impact the status of XRP and the interest of institutional investors.
Please note that the views expressed in this article, including those of the author and any individuals mentioned, are solely for informational purposes and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
Editor’s Choice: Final decision in the Ripple vs. SEC case expected soon in 2024.