The XRP price dynamics, in comparison to its more dominant counterparts, Bitcoin (BTC) and Ethereum (ETH) have been a subject of intense scrutiny and debate. Pro-XRP lawyer Bill Morgan recently shed light on this perplexing trend through a detailed discourse on X (formerly Twitter), sparking a wide array of responses and theories from the community.
Morgan, reflecting on the long-term performance of XRP, pointed out a noticeable trend: “The XRP price dynamic seems to be to move with the market meaning BTC and Ethereum but to gradually over the long term decline in value against those two assets no matter what Ripple does.”
He highlighted a significant decline in XRP against BTC (84.85%) and ETH (91.58%) over the last five years. Initially attributing this trend to the lawsuit against Ripple, Morgan noted that even subsequent legal victories and clarity for XRP in the second half of 2023 did not reverse the declining trend, leaving the community questioning the underlying causes.
XRP Underperforms Significantly Vs. BTC, ETH: Why?
The discourse unfolded further in the comment section, where various users presented their hypotheses. One user branded XRP as “the most hated coin in crypto,” suggesting that a persistent negative sentiment, combined with aggressive shorting and attacks, has been detrimental to XRP’s value. Morgan concurred, acknowledging the impact of the “FUD narrative” but doubting it as the primary cause.
The discussion delved into other potential factors, including “tribalism” in the crypto space, the lack of speculative media attention around XRP, and the influence of large holders of BTC and ETH on the XRP price. Morgan termed these collective factors as the “narrative explanation,” acknowledging their role but still not convinced of them being the central issue.
“I call that the narrative explanation and I do believe it contributes to XRP price performance against BTC and ETH. I don’t think it is the main explanation. The FUD narrative against XRP is intense and continuous. It even included absolute nonsense about the SEC v Ripple case,” Morgan stated.
A pointed criticism came regarding the developer activity on the XRPL (XRP Ledger), with a user highlighting a lack of development as a significant concern. Morgan agreed, marking the inactivity as an issue. “Lack of developer activity is definitely a problem,” the lawyer remarked.
However, he firmly dismissed the notion that…
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