Is XRP a meme token? Veteran trader issues warning

Amid the volatile cryptocurrency market, a recent warning from veteran traders has caused concern among XRP investors. Crypto Bitlord, a well-known commentator in the crypto community, has expressed clear skepticism about XRP’s prospects, suggesting that this asset may not be worth the current optimism.

Warning from Crypto Bitlord: From Supporter to Concerned

As a long-time supporter of XRP, Crypto Bitlord recently changed his stance by posting on X that “no one should be optimistic about XRP given recent news.” He warned that the token could soon undergo a large-scale sell-off, with the possibility of the price dropping below $1. This warning immediately drew attention from investors, especially as someone who once strongly supported XRP now issued a caution.

In more detailed analysis, Crypto Bitlord pointed out that XRP is currently trading near $1.35, but targets below $0.043 have been set. He also sharply commented that the XRP project has become a meme token, describing it as “nothing more than a meme now” when comparing its actual performance to initial promises.

David Schwartz and Internal Doubts

Crypto Bitlord’s warning is reinforced by revelations from David Schwartz, the former CTO of Ripple. Schwartz recently disclosed that he started selling XRP at $0.10 and does not expect the price to reach $0.25. This disclosure about the selling decisions of a key figure within Ripple has raised serious questions about confidence in XRP’s long-term trajectory.

Crypto Bitlord sharply criticized this move, claiming Ripple’s founders promoted XRP as “the future of payments” while continuously distributing billions of tokens at low prices. The contradiction between public statements and actual actions by leadership has significantly damaged community trust.

The Community Must Play a Larger Role

Crypto Bitlord proposed a potential solution: the XRP community should take a more active role in guiding Ripple’s strategy. With Schwartz stepping down from his CTO role, this could open opportunities for a new governance structure where XRP users have more influence.

Such a change could help Ripple rebuild trust by allowing strategic decisions to reflect community interests rather than just internal management. Empowering the community could lead to greater transparency and accountability, supporting a recovery process.

Market Impact and Outlook

Current market data shows XRP trading at $1.35, down 2.24% in the past 24 hours, with 50% of investors feeling empathetic. These developments demonstrate that XRP still faces significant challenges ahead.

If Crypto Bitlord’s warning and other community comments trigger a widespread sell-off, XRP may soon face a difficult period. However, whether XRP remains just a meme token or a project with potential depends on how Ripple responds to these concerns and the level of community engagement moving forward.