On social media, famous cryptocurrency investigator ZachXBT made a strong statement, declaring that he would no longer support the XRP community. He strongly criticized XRP, calling the token 'Exit Liquidity' for insiders, implying that the project primarily benefits early investors while harming retail investors.
This is not the first time XRP has been criticized for its centralization and insider interests. However, ZachXBT's decision to withdraw has further amplified the weight of this criticism, considering his credibility in making decisions about bad actors in the cryptocurrency space.
This comment has sparked backlash from XRP supporters, but many others in the cryptocurrency community have also expressed similar disappointment, highlighting long-standing concerns about transparency and token distribution.
XRP Under Close Scrutiny Once Again
ZachXBT's statement has brought XRP back into the spotlight. Declaring that XRP is 'exit liquidity' implies that insiders are exploiting the appeal to sell off their stakes, cashing out while ordinary investors are left behind.
These concerns are not new. XRP and its parent company Ripple have faced legal battles with the SEC and have frequently been criticized for unlocking large amounts of tokens and selling them by executives.
Although some still view XRP as a useful token for cross-border payments, trust in the project continues to waver, especially as credible voices like ZachXBT publicly withdraw.
What This Means for the XRP Community
With ZachXBT's withdrawal, the XRP community loses an important oversight figure who previously helped uncover scams and abuses in various projects. His withdrawal indicates that he sees no value in supporting a token that he believes has fundamental flaws.
The big question now is how the XRP team and community will respond. Will they address these internal concerns, or will this be another warning that is ignored?
Sign up for a Binance account to receive permanent trading fee refunds:
- New account registration link: https://accounts.binance.com/register?ref=Q2FSX523
- Referral code: Q2FSX523