- Riling up Bitcoin maximalists
- XRP’s severe price drop
USA Today, one of America’s biggest news outlets, has run an article, which argues that XRP is “the smartest cryptocurrency” to buy right now with $500 due to its “long-term growth potential.”
The article says that “real-world utility” in the realm of international payments is the token’s main selling point.
At the same time, it cautions potential investors that they should not expect “explosive” returns that were seen in the past due to its vast size. According to CoinGecko, its market cap currently stands at $170 billion. Hence, XRP buyers should focus on “slow and steady” growth.
The opinion piece also says that stablecoins are more efficient than XRP for international transfers, but it has also stressed that RLUSD could “indirectly benefit” XRP because they are on the same network. That said, it is worth mentioning that RLUSD is a dual-chain stablecoin, and the vast majority of its supply is on the Ethereum network.
Riling up Bitcoin maximalists
USA Today attracted some social media backlash after running the article (primarily Bitcoin maximalists).
It is worth noting that it was actually syndicated from The Motley Fool, a prominent financial services company. Hence, the USA Today staff was not actually involved in producing it.
However, it was still featured on the USA Today website and official social media channels.
The official X account of the social media outlet boasts more than 5 million followers.
XRP’s severe price drop
Despite some major mainstream media exposure, XRP has logged a severe price drop.
It plunged to as low as $2.75 earlier today before paring some losses, according to CoinGecko data.