Bitcoin Advocate Jeremie Davinci Calls XRP a ‘Scam You Can Gamble On’

• Jeremie Davinci calls XRP a ‘scam you can gamble on.
• XRP faces sharp decline as liquidation volumes continue to rise.
• Bitcoin advocate slams XRP, praising Bitcoin as the better investment.

Bitcoin advocate Jeremie Davinci has made headlines with his bold remarks on XRP, calling it a “scam you can gamble on.” In a recent tweet, Davinci expressed his strong criticism of XRP, urging its investors to reconsider their involvement with the cryptocurrency.

His comments came after a video clip surfaced in which a host explained her $1.3 million investment in XRP and expressed hopes that the coin would eventually rise to $10 per unit.

At the time of the interview, XRP was trading around $2.82. While many see potential in XRP’s future, Davinci disagrees, arguing that many holders do not fully understand the risks they are taking.

He emphasized that Bitcoin, in contrast, remains a solid store of wealth. According to Davinci, while Bitcoin is decentralized and trusted, XRP’s centralized nature makes it far more speculative.

Also Read: Trending: XRP Army Sparks Outrage Following Recent GDP Data Published By US Commerce Department

XRP’s Centralized Nature and Legal Troubles

XRP operates on the XRP Ledger, and many critics, including Bitcoin maximalists, have long argued that it is too centralized. Ripple, the company behind XRP, controls a significant portion of the coin’s supply, with 50 billion coins pre-mined.

Critics argue that this centralization renders XRP easily subject to market manipulation, and it goes against the ethos of decentralization that most people consider cryptocurrencies ought to pursue.

Also, XRP has been scrutinized over the years by various authorities, especially the U.S. Securities and Exchange Commission (SEC), which brought a lawsuit against Ripple. The reputation damage to XRP was huge, even though the SEC recently announced it would not proceed with the suit.

Nevertheless, some in the crypto community have continued to support XRP, considering it an alternative to Bitcoin because of its reduced energy use.

XRP Faces Market Pressure

XRP is under increasing market pressure, having dropped over 6% today to $2.82. The cryptocurrency’s sudden price decline has sparked concerns, especially as liquidation volumes rise. Data from Coinglass shows that XRP’s liquidation amount is $2.95 million.

Trading volumes have increased by $7.58 billion over the last 24 hours, reflecting the overall bearish sentiment in the market.

Also Read: XRP on the Brink: Will Critical Support Hold or Trigger Massive Downturn?

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