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- Riot Platforms’ Pierre Rochard criticized Chris Larsen’s determination to assist Kamala Harris.
- Rochard mentioned Ripple and Ripple co-founder Larsen are “anti-freedom and wish to ban Bitcoin.”
- XRP/BTC is down 50% this 12 months because the altcoin is up solely 5% in 1 12 months whereas BTC is up 110%.
Ripple has introduced its assist for Kamala Harris within the 2024 presidential race, because the fintech agency faces challenges with the efficiency of its XRP cryptocurrency in opposition to Bitcoin (BTC).
XRP, created by Ripple, has seen a decline in worth, trailing behind Bitcoin, the main cryptocurrency. Ripple co-founder Chris Larsen has additionally been linked to efforts selling central financial institution digital currencies (CBDCs), sparking debates inside the crypto market.
Pierre Rochard, vice chairman of analysis at Riot Platforms, criticized Ripple and Larsen for his or her advocacy of CBDCs, claiming they’re “anti-freedom” aiming to undermine Bitcoin. Rochard additionally highlighted XRP’s struggles, stating that the cryptocurrency has underperformed Bitcoin over the previous 12 months, with XRP/BTC down 50%.
As proven by Rochard’s chart, XRP has underperformed in comparison with BTC within the final 12 months, leaving buyers dissatisfied. Rochard recommended Larsen’s backing of Harris displays frustration over XRP’s falling worth, because it stays the seventh-largest cryptocurrency by market cap.
XRP: A Struggling Altcoin in 2024
Regardless of sustaining its spot within the prime 10 cryptocurrencies by market capitalization, XRP has struggled all through this market cycle.
In response to the information from CoinMarketCap, XRP is buying and selling at $0.5285, down 2.70% up to now 24 hours with a market cap of $29.76 billion.
Over the previous week, XRP has dropped 6.92%, and up to now month, it has plummeted 12.89%. Since September 2023, XRP has gained solely 5.91%, whereas Bitcoin has surged by a powerful 110.70%.
The Relative Power Index (RSI) for XRP reads a price of 39.37 which confirms that the bears are total answerable for the digital asset’s worth motion. Nonetheless, the gradient of the road suggests a slight uptick within the shopping for strain.
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