Ryan Selkis, founder of Messari, is no stranger to voicing his opinions on cryptocurrency, and his latest remarks on XRP have certainly stirred the pot. In a December 19 X post, Selkis mocked the idea of buying XRP, suggesting there’s never a good time for it. This comment came just days after he labeled XRP community members as “worthless bot groups,” further fueling the ongoing tensions between him and supporters of the asset.
Now that XRP has fallen below the value of Coinbase, Microstrategy, and Softbank (combined), it's looking like a good buy again.
— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) December 19, 2024
XRP Faces Price Dip Amid Broader Crypto Market Correction
The criticism comes during a time of market volatility, with XRP experiencing a sharp price decline. Over the past two days, the digital asset has dropped by 21%, sliding from $2.5921 on December 18 to $2.0505 on December 20. The downturn mirrors broader market struggles, largely attributed to the Federal Reserve’s adjustments to its monetary policies. Following a December 19 Federal Open Market Committee (FOMC) meeting, it was revealed that the Fed plans to slow its quantitative easing efforts and reduce interest rate cuts in 2025—decisions that have sparked concern in risk markets, including crypto.
While the Fed’s actions have caused some market unease, analysts remain divided on XRP’s outlook. One analyst, “Amonyx,” remains optimistic, suggesting the asset could potentially surge by 60,000%—similar to its explosive rally from 2017 to 2018. XRP’s price could reach as high as $251 if it replicates the bullish pattern observed during that period.
Key Support Levels and Future Outlook
Despite the criticism, XRP still has a number of factors working in its favor. The regulatory and political climate, particularly with a potential Donald Trump administration, could provide a favorable environment for the asset. Moreover, Ripple’s recent launch of RLUSD, a stablecoin designed to improve liquidity and support decentralized finance (DeFi) applications, may provide further momentum.
However, caution remains warranted, as another analyst, “Casi,” warns that XRP must maintain crucial support around the $2 mark for a recovery. The next few weeks could prove pivotal for XRP as it navigates this turbulent market phase.
Also Read: XRP Price on Edge: This Analyst Predicts 50,000% Rally to $251 After Multi-Year Breakout
Ryan Selkis’ recent jabs at XRP may have left some crypto enthusiasts shaking their heads, but they’ve also highlighted the growing divide between the asset’s critics and its supporters. As XRP grapples with broader market dynamics and internal challenges, its future remains uncertain—though there are still those who believe it could defy the odds and recover.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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