- Ripple CTO David Schwartz asks Charles Hoskinson to wait a few days and decide whether he wants to call the XRP Army toxic.
- The Cardano co-founder claimed that XRP has no partnership or technical value and the community is toxic.
- XRP price fared better than Cardano when compared year-on-year, despite the US SEC lawsuit and criticism from industry players.
Cardano co-founder and former Ethereum co-founder Charles Hoskinson ended his relationship with the Ripple community claiming that XRP Army is toxic. Ripple CTO David Schwartz put Hoskinson in timeout, asking him to take a few days and read his comments on XRP and its community. XRP has outperformed Cardano (ADA) when comparing the altcoin’s performance year-on-year.
Ripple CTO responds to Charles Hoskinson’s statement that XRP has no technical value
Ripple CTO David Schwartz recommends that Charles Hoskinson take a timeout, after reading his comments on Ripple’s community and XRP token. Hoskinson put an end to his controversial opinions on XRP with a final comment.
Hoskinson has engaged in Twitter battles with the Ripple community, known as the XRP Army, time and again. In what is being considered Hoskinson’s last commentary on Ripple, the Cardano co-founder said that the token has no partnership or technical value.
You may want to wait a few days, read this tweet back, and think about whether you're sure that's the combination of things you really want to say.
— David "JoelKatz" Schwartz (@JoelKatz) December 19, 2022
The Cardano co-founder believes XRP Army is toxic and expressed his wish to distance himself from the “toxicity.” Hoskinson is popular for his negative commentary on Ripple’s cross-border settlement token XRP and the altcoin’s community.
The former Ethereum co-founder took to Twitter to critique the third-largest altcoin by market capitalization. Hoskinson shared a video of himself where he explains that he does not see any importance in answering XRP or Ripple-related questions. He will refrain from commenting on the US Securities and Exchange Commission’s lawsuit against the payment giant. Hoskinson was quoted as saying:
If asked in the future, I’ll just simply say no comment.
Comments on XRP https://t.co/LygW4LCo8i
— Charles Hoskinson (@IOHK_Charles) December 16, 2022
After Hoskinson shared his belief that Ripple will settle the lawsuit with the US financial regulator on December 15, the community unleashed their criticism and labeled the Cardano co-founder a “liar.”
Hoskinson believes that the XRP community has mocked him for dismissing their conspiracy theories surrounding the case and he states that the XRP Army is “willing to viciously attack a person, who, frankly, has not attacked them.”
Hoskinson tweeted:
There is no point inviting toxicity into your life. It's abusive and pointless. Even in saying it now there are mocking baby memes. Life is too short. Move on and cut it out. XRP provides no partnership or technical value. The community is toxic and petty. I can live without it
— Charles Hoskinson (@IOHK_Charles) December 17, 2022
XRP outperformed Cardano (ADA) when comparing the altcoin’s YoY
The year 2022 was filled with ups and downs, mostly downs for the cryptocurrency ecosystem. Altcoins like Ripple’s (XRP) cross-border payment settlement token XRP and Ethereum-killer Cardano (ADA) suffered a massive decline in their price, year-on-year. XRP price yielded 58.7% losses for holders YoY, for Cardano holders the annual return is negative 78.8%.
One of the factors impacting the XRP price decline is the lawsuit filed against payment giant Ripple by the US SEC. As 2022 draws to a close, experts are of the opinion that SEC v. Ripple lawsuit will end with a positive outcome for the payment giant. This outcome could trigger a bullish sentiment among XRP holders and push the altcoin’s price higher.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin, crypto market remain in uptrend following 25 bps Fed rate cut
Fed Chair Jerome Powell stated that the FOMC lowered the Fed funds rate by 25 basis points. The rate cut comes after Bitcoin reached a new all-time high price upon Donald Trump's election victory. Ethereum and Solana also retained gains of 7% and 4%, respectively, following the rate cut.
XRP sees bullish momentum following $123 million increase in open interest
XRP exchange reserves in Binance and Upbit have declined by nearly $13 million. In the past three days, investors opened over $123 million worth of XRP positions. XRP needs to overcome key descending trendline resistance to stage a rally to $0.6640.
Coinbase launches wrapped Bitcoin token on Solana network
Crypto exchange Coinbase announced on Thursday that it has launched its synthetic Bitcoin token, cbBTC token, on the Solana network, marking its first token issuance on the Layer-1 platform. The new token will allow users to stake Bitcoin on Solana and use it as lending collateral.
Solana Price Forecast: Investors stake $1.3B SOL amid November winning streak
Buoyed by Donald Trump's victory at the polls, the global crypto market entered its third consecutive day on an uptrend on November 7, 2024. Amid the ongoing rally, Solana emerged one of the biggest gainers on Thursday, as demand for native memecoins further propelled market demand for SOL.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.