XRP as “Better Sound Money,” in Vitalik Buterin’s View, is Examined

News Desk5
3 Min Read

The crypto world is buzzing with the unearthing of a fascinating piece of history involving Vitalik Buterin, the co-founder of Ethereum, and his surprising jab on XRP. Steven Nerayoff, a former Ethereum advisor and a Key member of the XRP community, has dug up a past endorsement from Buterin where he spoke highly of XRP. In the uncovered tweet in 2019, Buterin suggested that XRP might be “better sound money than Bitcoin.” 

XRP’s Potential as “Better Sound Money”

Nerayoff’s postpartum review of Buterin’s statement is catching crypto attention, dating back to 2019. He suggested that XRP could outshine Bitcoin in terms of being “better sound money.” This assertion was grounded in Buterin’s belief that the price chart dynamics of XRP shared similarities with Bitcoin, positioning it as a contender in the realm of sound money.

Core Strength of XRP

Adding more value to his comments. He highlighted two key strengths that he believed set XRP apart. First, he pointed to its institutional adoption, suggesting that this factor gave XRP a distinct edge. Second, he emphasized the strategic partnerships forged by XRP within the cryptocurrency industry, further solidifying its position as a formidable contender.

Interpreting Buterin’s Remark as Sarcastic

While some observers have interpreted Buterin’s statement as sarcasm, they point to including trademark symbols around phrases like “institutional adoption” and “partnerships” as evidence. However, this interpretation remains speculative, and the true intention behind Buterin’s comment continues to be debated.

This revelation comes amid ongoing tensions between Buterin and the XRP community. Buterin’s previous claims that Ripple unjustly targeted Ethereum in its legal battle with the SEC, labeling it “Chinese-controlled,” sparked controversy. Moreover, Buterin expressed concerns about XRP’s centralization, further fueling the debate. 

XRP Waiting For “The Perfect Break-Out”

Right now, after a lot has happened in Ripple land, XRP is all set to form a Mega Ascending Triangle (AT) after recently confirming the creation of a Mini AT. According to EGRAG, this pattern has a historical precedent in 2021, indicating a potentially significant price surge.

However, XRP faces challenges, including overcoming a new supply zone between $0.75 and $0.87 and breaking through the structural and psychological zone from $0.87 to $1 for the Mega AT to develop fully.

This discovery sparks more talk about how important figures in the crypto world, like Buterin, influence how we see different digital currencies. It makes us wonder about the balance between competition and cooperation in the crypto space.

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