For years now, former Wall Street trader turned Bitcoin analyst Tone Vays has been crusading against altcoins, calling many of them scams and worthless due to their attempts to imitate market leader BTC.
Despite it being the holiday season of cheer, Vays has only doubled down on his attempts to bash altcoins, recently joining cryptocurrency media outlet BlockTV to bash XRP in an interview. In the interview, he quipped:
The Ripple token itself has absolutely no place. It is now, more than ever before, just a security of the Ripple corporation… Everything about XRP is bad.
“I usually don’t like people getting arrested, but if the senior management of Ripple gets arrested I’ll actually be happy.” – @ToneVays
— BLOCKTV (@BLOCKTVnews) December 22, 2019
It isn’t only Tone Vays that thinks XRP has no inherent value as a cryptocurrency. Cryptocurrency commentator Bully recently posted the below tweet, in which he jokingly conveyed a theoretical dialogue about Ripple and XRP. The punchline: “is it worth anything?” to which the response was “no.”
Ripple Inc. is valued at $10 billion!
So my $XRP represents a share in the company then?
Oh my god, no.
Oh, so I could swap it out for Ripple stock?
What is it then?
Well, it’s a token that you can send.
But is it worth anything?
— ฿ully (@BullyEsq) December 23, 2019
Indeed, many have questioned the inherent value of cryptocurrencies, even XRP, over the past decade, citing the fact that all that is backing a majority of these assets is either nothing or a solution that could theoretically work without a token.
XRP’s Harrowing Price Outlook
With this sentiment existing, it should come as no surprise that analysts are saying that XRP’s price outlook is looking…