In a bold and polarizing statement, entrepreneur Gary Cardone has labeled XRP as “financial COVID 2.0,” igniting a fierce backlash from the XRP community. His claims raise questions about decentralization, political influence, and crypto’s evolving role in global finance.
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📢 What Cardone Alleged
Cardone’s controversial remarks include:
“XRP is financial COVID 2.0”
Accuses XRP of aligning with European regulatory forces
Warns of XRP enabling a financial surveillance state
Claims XRP “will do anything to survive”, regardless of ethics
The comments follow rumors that a European Central Bank surveillance coin may utilize the XRP Ledger, fueling speculation and fear-driven narratives.
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⚖️ XRP Community Fires Back
Prominent legal voice Bill Morgan responded swiftly:
“How can a permissionless token partner with anyone?”
“Does the token have consciousness?”
Dismissed the claims as conspiratorial and technically flawed
The clash underscores the ongoing tension between crypto’s technical realities and politicized interpretations.
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💼 Why Cardone Dumped XRP
Cardone previously sold his entire XRP position at $2.71, citing:
Lack of transparency in tokenomics
Difficulty explaining XRP’s technology
Unsustainable expectations around price
Personal strategy to focus on simpler, higher-conviction assets
His $8K exit shocked longtime XRP holders and further strained relations with the community.
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📉 Market & Narrative Impact
XRP remains technically sound, but political narratives fuel volatility
Regulatory uncertainty remains a long-term overhang
Community cohesion is tested in the face of external criticism
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🧠 SquareWay Perspective
Cardone’s concerns reflect valid skepticism about institutional influence in crypto
The XRP response is technically accurate, but perhaps dismissive of real public perception issues
Reality likely lies between crypto idealism and geopolitical caution
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🧭 Bottom Line
This debate is bigger than XRP — it’s about whether crypto is a tool for freedom or a potential instrument of control. As narratives collide, price and perception remain tightly linked.
🔍 Conclusion: XRP sits at the intersection of innovation and geopolitical fear — and the market is watchi
ng closely.
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