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You are here: Home / News / XRP Faces Atomic Wallet’s Bold Criticisms Amid 28% Dip
XRP

XRP Faces Atomic Wallet’s Bold Criticisms Amid 28% Dip

December 11, 2024 by Aishwarya shashikumar

  • Atomic Wallet has sparked controversy by criticizing XRP during its market dip, questioning its ability to break past $3 again.
  • The Ripple token Army has urged a boycott, highlighting Atomic Wallet’s past hack and alleged hypocrisy.
  • XRP’s recent 28.22% dip fuels fears of a prolonged correction, drawing attention to historical volatility.

XRP, the digital asset known for its fervent community, has become a lightning rod for debate amid its recent market dip. Critics, including Atomic Wallet, have seized the opportunity to question the token’s long-term viability.

Atomic Wallet, a decentralized wallet popular in the crypto space, has sparked outrage by targeting the Ripple token during its recent decline. The controversy began when the wallet questioned the token holders about their plans if the asset’s value fell to $0.50.

This critique follows XRP’s explosive rise to a seven-year high of $2.87, fueled by a 485% surge in just four weeks. Despite this monumental rally, the token has since retraced to $2.06, marking a 28.22% decline from its peak. Atomic Wallet highlighted this drop, stating that the token is unlikely to ever surpass $3 again. The wallet even pledged to delete its X account if proven wrong.

XRP Community Pushes Back

Atomic Wallet’s remarks have drawn fierce criticism from the XRP Army, with many calling for a boycott of the wallet service. Prominent Ripple advocate Panos Mekras went as far as suggesting Atomic Wallet dissolve its operations entirely. Critics also pointed to the wallet’s checkered past, referencing a 2023 hack that led to millions in losses.

Adding to the frustration is Atomic Wallet’s history of sarcastic endorsements of the Ripple token. On December 2, the wallet claimed it wouldn’t sell the token until it hit $300, a statement many now see as disingenuous.

Despite the backlash, Atomic Wallet’s criticism underscores concerns about XRP’s sustainability after its meteoric rise. Historical data shows that the token often faces sharp corrections after significant rallies, leaving investors questioning its next move.

As the debate rages, XRP’s price struggles to regain momentum, amplifying tensions between its supporters and detractors.

Filed Under: News, Altcoin News, World Tagged With: Crypto, Cryptocurrency, Ripple (XRP)

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