XRP - The 2nd Biggest Scam in Digital Currency History

[Blitzboy]

Being a scam is not a Ripple's purpose. I believe that they have a further strategy to develop not just the company but also the blockchain in order to make the world better. In the past, many banks decided to corporate with Ripple to find a better solution for online payment as well as improving the speed of transactions. They have so many advance which we can not deny in a day with such an enormous FUD. If ripple survives after this event, it will become an even stronger cryptocurrency

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[TofuDefi]

Well, maybe XRP is not scam, but I've never trusted them because of very centralized nature of their project.

[Genemind]

A lot of people suffered massive losses after XRP price surged due to the recent airdrop snapshot hype. I've been seeing posts on social media about the news on SEC having XRP sued. I wonder what will happen to XRP since this had been the greatest threat that had hit it which could literally end its reign as one of the top coins in the market cap. I am still waiting how will XRP rebut on SEC's accusation or if it can even make a come back after this news came out and tarnished its reputation.

[Natalim]

Damn! is this the reason? https://edition.cnn.com/2020/12/23/investing/ripple-sec-lawsuit-trnd/index.html

I think we've seen some projects in the past that was touched by sec and they never recover anymore.
Today I was surprise that XRP was the biggest loser in the market, currently down at 35%, and I think this is really huge, and it's trading volume is big, probably people are already panic selling.

What would happen if XRP will be erase in the market? Will it affect bitcoin negatively or not?

[onecall123]

I think they're so much frustration out there. As per report, Several Crypto Exchanges are going to surge Delist XRP to avoid further legal troubles. Whether news is valid or not but definitely this sounds bad. It's a panic thing to all Hodlers, and this lead to make allegation over XRP I guess.

[Sithara007]

I was expecting this for sometime. It looks like the promoters are also dumping a lot of XRP in to the exchanges. If you check the 24-hour trade volume, you can see that this figure is around 175% of that of the total market cap of XRP. Now taking in to consideration the fact that 80% to 85% of the coins are being held by the promoters, it is clear that this much trade volume is possible only if they are dumping at least a part of their holdings.

[Maxstl007]

The day of reckoning has finally arrived and this is should be liberation for all legitimate cryptocurrency teams out there. Ripple set out to create a remittance platform under the pretense of being a "cryptocurrency" when in fact, XRP has never and will never be a cryptocurrency. It's a centralized ponzi scheme that has been reportedly going on for 7 years, since 2013. I and many other's have been calling out this scam for years now. Anyone halfway serious and understands crypto, knew this day was eventually coming and should be rejoicing.

To those who've been seeing XRP shills fill this board for years, in the comments and making threads, on social media and etc, just know that the vast majority of these accounts are manipulated bots and guerilla marketing teams that have been pumping their scam for years.

Altcoin markets took a very short shock, but since have all but recovered and will quickly resume their pace with Bitcoin. XRP in fact, had an insignificant impact on the crypto markets and any markets impacted will soon recover. This is a day you shouldn't fear, but should rejoice at the cleansing of scam coins from the broader market.

Next on the list, which will cause a shock to crypto markets (for better or worse) is Tether, USDT. This is the next monstrosity that will be targeted in the near future and will have a direct impact on all crypto, but it's long overdue. Tether prints billions of dollars and is the single most obsecure and least transparent of any stablecoin.  

The thing that i disliked about xrp was that team was holding billions in supply which was never a good thing for investors and holders because they can dump whenever they want and infact they had accepted ocassionally that they sold big chunks in the market. Now the situation ahs got worse for xrp and only time will tell if they will be able to survive from here or no.

Are you sure that it's a threat if team hold large supply of their coin or token? I believe that if XRP team let go of the percentage they are holding the value will go way down, even if I'm wrong it still doesn't change anything, there are many coins in crypto space that the team hold limited amount but the project still failed or turned scam

[Claudio99]

To me XRP isn't bad for some reasons

1. XRP have been criticised for many years and still alive today
2. It maintained it's position on coinmarketcap
3. XRP still brings good profits to all it's investors and that's all that matters
4. XRP is a old project

Whatever happens or whatever is going to happen to any project it's never going to be on a smooth road, challenges will arise and it's just XRP time to face another, this doesn't mean it's over, moreover I only invest what I can avoid to let go, that's the most important crypto investment rule  

[idrisalomagold]

I think XRP or Ripple or whatever you want to call it will be dead soon, and we can one day talk with our grandkids about coins like bitconnect, ripple and others 

Not yet, but let's see how they will address this issue, I really don't like XRP because its decentralized and they are on top of other decentralized coin in a decentralized market, right there is uncertainty on the future of Ripple unless they can find a way out in this mess, I wonder why SEC took 7 years to do this , is it because Ripple is making millions in profit.

XRP may be considered as cryptocurrency but its not typically decentralized - its more on as centralized crypto under the management of Ripple (the company behind it).

Well, i guess we wait for their response regarding the filed lawsuit against them. But, obviously with this negative news; price will soon to follow.

[qory]

The Ripple is all around the news and many says scam I was thinking about your title you said 2nd Biggest Scam what could be the first? The USDT? well I think it's a matter of time before many people could see it.

[Iyeman]

I think XRP or Ripple or whatever you want to call it will be dead soon, and we can one day talk with our grandkids about coins like bitconnect, ripple and others 

It seems to be the true story in the future. What will be decide the future of ripple will be the result from the court. SEC was taking the ripple to the court and this will be a very big battle between billion dollars platform against the regulators.
With the goes of time and we will be seeing the result from this case. I will never try to hodl ripple and it looks like there are lots of people did the same too.

[Lantind]

Lost 40% today already. It's insane.

Usecase for pump and dump only. Not a real crypto IMO

Why didn't you say this a long time ago? even though this XRP token has been in crypto for a long time, so if you say this when you have lost 40%, I think you are too late, because the pump and disposal of a token is because of the effects of others, not the cause of their own development team, because when token enthusiasts start to be afraid to hold it, people will immediately throw it away to avoid the risk they have to bear.

[amishmanish]

Any surprise that most of the shills and defenders of XRP are shitposters with zero merits?? Compare them with those who have been saying for a long time that XRP is basically the traitor of cryptocurrency and the big daddy founder of all that went wrong with crypto ecosystem. Those slick and devious salesmen on the helm have been selling XRP to the general public by paying exchanges to list them. Next they benefited by having retailers be conned by the "low price" bias.

Newbies jump into XRP thinking "ohh, so low". There are idiots who think that it will someday go to 100 or even 1000 dollars. All while never doing the research to realize that these people actively dissociate themselves from XRP by calling themselves as promoters of "Ripple platform". I am sure that as the lawsuit keeps rolling in, Garlinghouse and co. will simply say that XRP is not their main concern but their business is only about promoting the "platform".

This is because they have been selling XRP to partners for a long time making a killing (600 Million dollars). All while the idiotic shills buy into their scam.

[TopTort777]

When during November 18 - November 24 Ripples price went up from 30 cents to 70, why nobody spoke about Ripple being scam? I remember how topics with names “Ripple 1$” and other appeared. People were so happy about growth, spoke a lot about ATH. But now some of these people accuse Ripple of being scam due to sec price drop. Funny.

[tk808]

When during November 18 - November 24 Ripples price went up from 30 cents to 70, why nobody spoke about Ripple being scam? I remember how topics with names “Ripple 1$” and other appeared. People were so happy about growth, spoke a lot about ATH. But now some of these people accuse Ripple of being scam due to sec price drop. Funny.

You didn't read the topic of the thread, you only read the clickbait title. FYI, you're commenting in this thread about something irrelevant.


This type of careless posting is why the entire altcoin discussion section has turned into a sub-forum of useless spam (it was always spammy, but more than ever since about a year or two ago), with gem threads quickly getting buried by the same five subjects everyday. All to promote your signature that nobody will ever-click and so you can make an extra $0.50 per week.

[bttmember]

The day of reckoning has finally arrived and this is should be liberation for all legitimate cryptocurrency teams out there. Ripple set out to create a remittance platform under the pretense of being a "cryptocurrency" when in fact, XRP has never and will never be a cryptocurrency. It's a centralized ponzi scheme that has been reportedly going on for 7 years, since 2013. I and many others have been calling out this scam for years now. Anyone halfway serious and understands crypto, knew this day was eventually coming and should be rejoicing.

To those who've been seeing XRP shills fill this board for years, in the comments and making threads, on social media and etc, just know that the vast majority of these accounts are manipulated bots and guerilla marketing teams that have been pumping their scam for years.

Altcoin markets took a very short shock, but since have all but recovered and will quickly resume their pace with Bitcoin. XRP in fact, had an insignificant impact on the crypto markets and any markets impacted will soon recover. This is a day you shouldn't fear, but should rejoice at the cleansing of scam coins from the broader market.


The biggest scam, which will cause a shock to crypto markets (for better or worse, capital flight will fly to other stablecoins and or back to Bitcoin) is Tether, USDT. This is the next monstrosity that will be targeted in the near future and will have a direct impact on all crypto, but it's long overdue. Tether prints billions of dollars and is the single most obscure and least transparent of any stablecoin, even moreso in the last 2 years when it overthrew XRP for the top spot.
 

As you can see on display in this thread, the botnet and puppet network of XRP's marketing is in full-force mitigating the damage. 0 Rep, Spammy, New Accounts.  

I think ripple and xrp should be given a chance to present their stance and let them clear the company from the allegations if they can as this would be the best scenario for community and crypto market, otherwise it will damage many other projects as well and we would be seeing more such actions from SEC.

[judeafante]

Don't take my words out of context shill, XRP being sued will be successful and XRP will be worthless. They will most likely have to pay back all those ill-gotten gains, hollowing out whatever is left of Ripple.

Whatever happens to XRP, it will be a shell and non-existent on almost every exchange. The exodus has already begun, one-by-one exchanges will delist this scam.
As you can see on display in this thread, the botnet and puppet network of XRP's marketing is in full-force mitigating the damage.

It took SEC seven years to file a case I believe it's airtight case, all these times they are just gathering evidence so they can pin them down Ripple could be out in a few months, and holders who are still holding should brace themselves for the worst and they should get updates on what's happening on their beloved coin.

[amishmanish]

All is not lost yet which means it is not worth sinking the ship completely SEC will change the ripple and make them pay a fine and then everything will be fine, you will see

Okay, let's see the result and let's see if that will really happen, I hope you guys will not lose your investment on XRP especially those who really trust and believe that XRP could still pull this one up. Have we seen a project before that was sued by SEC and survive? If there's one, then I might believe XRP here will survive this.

Fair remark but everything happens for the first time and those projects you are talking about were cut down much earlier besides, all these cases differ one from one.

There is a thing called as "sunk cost bias". Its understandable that people who have bet money on XRP will continue to keep hope. This hope serves the purpose that you can get out of XRP while there is still time. Once the exchanges start pulling the plug or start getting summoned to explain, the downfall would be quick.

For those saying that XRP should get to defend itself, give one argument as to how a 100 billion premine of a centralized coin, sold to gullible retail buyers by onboarding exchanges and false marketing is defensible?? Not even the shittiest of coins do that. Even they have these rules about only a percentage share going to founders (at least, on paper).

[Ratih999]

"This is a day you shouldn't be afraid of, but you should rejoice at getting scam coins from the wider market"

I really like this point. one by one we see that big projects can end in fraud.
and over the years we have been fooled by their project, without us knowing that this was a big case in the history of the crypto industry, where Big Project ended up being a Scam.

but I feel sorry for some holders who did not have time to sell XRP before this Scam was revealed, but there are also those who bought it when the price was low. while we know that XRP is in big trouble.

I want to see the latest updates of this project, I will continue to monitor and see how the CEO of Xrp responds to this issue 

[mu_enrico]

The biggest scam, which will cause a shock to crypto markets (for better or worse, capital flight will fly to other stablecoins and or back to Bitcoin) is Tether, USDT.

Yep, USDT will destroy the market if it gets shut down.

Anyway, if you check the market, XRP went up 30%! I don't think it's a dead cat bounce since the crypto market is so irrational. If the US Government is strong, theoretically, they could wipe scammy projects. But, they are in a bad situation right now, so we have to wait for the purge a little longer.