In a surprising turn of events within the cryptocurrency community, prominent analyst Alex Mint has directly challenged Ripple’s leadership, specifically targeting CEO Brad Garlinghouse and co-founder Chris Larsen. He alleges that their actions involving XRP are detrimental to its market stability, insinuating that ongoing sales by these executives are causing undue pressure on the cryptocurrency’s valuation.
Analyst Calls Out Ripple’s Leadership Amidst XRP Concerns
In a recent tweet, Alex Mint voiced his discontent, suggesting that the current price trajectory of XRP does not reflect the altcoin’s true potential. He argues that consistent sales from Ripple’s founders undermine investor confidence and raise questions about the company’s strategic vision.
Mint speculated that Ripple may be facing significant challenges, such as rising market competition and profitability issues, pushing executives to liquidate their holdings. He remarked that he is contemplating divesting his own XRP investments due to these unsettling developments. In response to his assertions, fellow XRP enthusiast Jessica emphasized the positive aspects surrounding XRP, including new partnerships and institutional adoption, which she believes signal a brighter future for the token.
Mint fired back, questioning the feasibility of government adoption of Ripple’s technology in an increasingly competitive landscape, especially with emerging alternatives entering the fray. He expressed skepticism about the viability of Ripple’s partnerships vis-à-vis nodes launching their own solutions that might overshadow XRP.
In another post, Mint disclosed plans to move a significant amount of his XRP holdings to exchanges. He stated this decision is a clear message to Ripple’s executives — unless they cease their selling activities, he will take similar actions. He communicated a firm deadline of 24 hours for the team to reassess their strategy.
Ripple’s Escrow Unlock Sparks Debate
Coincidentally, these allegations emerge as Ripple unlocks a substantial 1 billion XRP from escrow. Data indicates that Ripple subsequently locked 700 million XRP back into escrow, which leaves only 300 million in active circulation. Concurrently, there has been notable movement among whales who are keenly accumulating XRP during this phase.
Recent transactions show that three major investors transferred significant amounts of XRP — 236 million, 230 million, and 257 million — to undisclosed wallets. This behavior suggests a strategic accumulation rather than a liquidation strategy, as these assets were not transferred to exchanges for sale. Moreover, analyst Emma W. noted that in the last fortnight, whales have amassed around 340 million XRP, shedding a positive light on the market outlook.
As of the latest market analysis, XRP is trading at approximately $3.05, reflecting a more than 4% increase in just the past day, based on CoinMarketCap statistics.
