Popular cryptocurrency exchange, Bitrue has urged investors to go all in on XRP, suggesting the cryptocurrency’s potential to surge dramatically to new levels. The crypto exchange’s promotion of the declining digital asset has triggered a significant backlash from various crypto community members.
Bitrue Advocates Full Investment In XRP
Bitrue has advocated for crypto community members to fully invest in XRP, the native token of the XRP Ledger (XRPL). The crypto exchange expressed bullish sentiment for XRP, using the infamous rocket emoji at the end of their post to signify a potential for a significant bull run for the cryptocurrency.
“When in doubt, go all in XRP,” the exchange remarked in an X (formerly Twitter) post. Despite XRP’s price stagnationover the years, Bitrue has remained a major advocate for the cryptocurrency. The crypto exchange allows users to trade XRP on its platform and also offers numerous XRP trading pairs with popular cryptocurrencies like Bitcoin, Shiba Inu, Pepe and others.
Following the ongoing lawsuit against Ripple, issued by the United States Securities and Exchange Commission (SEC), the price of XRP has been on a downward trend. The cryptocurrency previously rose to an all-time high of $3.84 in 2018. However, over the past 5 years, XRP has failed to match this peak.
The cryptocurrency’s declined state has been a major concern for long-term investors and XRP supporters. While the community has continually stayed optimistic about a potential rally following the conclusion of the SEC’s lawsuit, many have opted to sell off their tokens to protect themselves from potential losses.
Crypto Community Members React
Bitrue’s suggestion to invest heavily into XRP may appear insensitive to some investors considering XRP has failed to witness a significant rally for years. The price of the cryptocurrency is currently on a downward trend, trading at $0.47, and reflecting a 4.52% decline over the past week, according to CoinMarketCap.
Unsurprisingly, Bitrue’s post has evoked mixed reactions amongst crypto community members, attracting backlash from a few followers. One community member announced he would be going “all in on XRP.” However, he warned that if his investment fails, he will sue Bitrue for its supposed financial advice and endorsement of XRP.
Another crypto member labeled the exchange’s post as bold, highlighting Bitrue’s recommendation to invest in XRP despite the cryptocurrency’s waning value and lackluster market performance. Likely, in response to community backlash, the crypto exchange has completely deleted the controversial post from X.
While there are pessimistic sentiments about XRP, there are also various crypto community members who remain bullish on the cryptocurrency’s price outlook. An avid XRP supporter and community member identified as ‘Jack The Rippler,’ has expressed significant bullish sentiment for XRP.
According to the crypto member, XRP is poised to pump harder than most digital assets, indicating the possibility for the cryptocurrency to witness a similar price surge akin to its record high in 2018.
Featured image created with Dall.E, chart from Tradingview.com
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