Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
A Goldman Sachs veteran, Dom Kwok, has criticized XRP critics for being loud, unproductive and bad-mouthing the fourth-ranked cryptocurrency in the world. Kwok’s reaction came in response to a post that highlighted how an XRP critic has been proven wrong by the asset’s performance.
XRP critics reflect poor judgment: Kwok
Notably, another XRP supporter has aggregated screenshots of the troll who mocked XRP for its large outflows on the exchange-traded funds (ETFs) market.
The troll also favored Solana against XRP as a way to emphasize his low rating of the asset.
However, Kwok maintains that anyone betting against an asset like XRP or endlessly critiquing it is a sign of "very low IQ."
He argues that XRP is actually making a profit. Hence, any group of people, whether online or offline, that constantly attack the coin or crypto on social media are driven by resentment, not genuine reasons.
He considered it unreasonable that someone would stay fixated on a $40 million ETF outflow that occurred in the ecosystem recently and conveniently ignore the net inflows. XRP had registered a net inflow of over $7.9 million within the same period.
According to Kwok, it is illogical for people who have never built anything or done anything productive to spend countless hours critiquing XRP. He considers it a waste of opportunity for critics who are neither taking advantage of XRP’s profits nor considering a viable way of making money for themselves.
It is worth mentioning that Kwok is not dismissing professional analysts who offer structured criticism. Rather, he is focusing on critics who do not just understand any aspect of XRP’s growth and just want to attack the asset.
He argues that these XRP critics who are endlessly bad-mouthing the asset are missing the upside. Kwok also claims it is likely that they are not doing well financially in their personal life, hence the frustration with XRP.
XRP holds firm as market sentiment improves slightly
On the broader crypto market, XRP rebounded from its daily low of $2.07 and climbed to a peak of $2.16.
As of press time, XRP is trading at $2.09, which represents a 0.88% increase in the last 24 hours. Though the gain is modest, XRP is currently outperforming the broader crypto market.
Trading volume has, however, stayed low in the red zone. It is currently down by 15.43% to $3.81 billion despite XRP’s Relative Strength Index (RSI) at 56.03, signaling neutral territory.
It is likely that if volume spikes, XRP could retest higher price levels.
Godfrey Benjamin
Arman Shirinyan
Alex Dovbnya
Gamza Khanzadaev
Tomiwabold Olajide