Additionally, Cointelegraph writer, Joseph Young has shared similar sentiments.
Ripple is locking up $14 billion of its native "currency" to control its price?
Locking funds itself is bad. The intent is even worse. pic.twitter.com/X9xaqJHDfV
— Joseph Young (@iamjosephyoung) May 17, 2017
Making Ripples
Despite the mixed opinions of Ripple, it still made big gains in 2017, going up 36,000 percent. This caused it’s market cap to push the coin up to second on Coinmarketcap for a period.
However, even this accolade has been slammed.
“It seems like the multiple-year-long cryptocurrency bull-market eventually reached a point where newcomers have been buying indiscriminately, not understanding anything about what they are buying other than ‘it’s a crypto coin so you can make money with it,’ and Ripple managed to get caught up in the madness,” thieflar continues.
The response?
Interestingly, Ripple itself agrees that it should not be bought indiscriminately to try and make money off the gains.
“Private exchanges and liquidity providers may choose to hold additional XRP for trading. Ripple (the company) does not promote XRP as a speculative investment,” it is stated in their gateway guide.
