Year 2021 for Ripple (XRP) is starting off with lot of attention from the crypto space. The SEC charges being one thing and curious investors wondering what they need to be doing with their XRP investments being another thing. Ripple XRP is all set to have an action packed 2021.
Commenting, Sydney Ifergan, the crypto expert tweeted: “I remember a Sam Walton quote, there is only one boss -the customer. And, he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else – So Ripple (XRP) customers are alert!”
Some of the XRP customers are already in tears. Whether the SEC is correct or wrong is a different issue altogether, what matters now is that the customers are upset in the interim. It has already damaged the hopes of several investors already.
There is no denying that together with their partners, Ripple have been making global payments happen very quickly, reliably and affordably than before.
It is a testing time during 2021 for XRP and they are going to jump over every single hurdle and run through fire and ice to ultimately prove they are good and right.
Ripple (XRP) Reaction
Ripple (XRP) have been concerned about the market reaction in response to the SEC charges and they have been prompt in keeping the market sentiment positive and they have reacted.
Ripple Insights have published, “Our Statement on Recent Market Participant Activity.”
The publication points to how the SEC charge is a reaction against the entire industry. It also points to how several innocent XRP investors have been affected already. The situation has also made things hard for exchanges, market makers and traders creating more uncertainty in the market.
Ripple have been facing some problems because some members are reacting in a very conservative fashion.
Ripple clarified that there are clear rules of the road for those who are looking to XRP in the UK, Japan, Switzerland and Singapore. Further stated that, majority of the customers are not in the US and that the major volume of XRP is traded outside of the US.
The company is doing all it takes to defend its stand and settle the matter in the court to get clarity for the US crypto industry. They also stated that their commitment to constructive regulatory engagement will not change.
The market has a hard time understanding that Ripple and XRP are different and therefore the reaction.