Recently, Sasha Hodder the Founder of Hodder Law, the firm that assists businesses grow in crypto space, asked the question that despite XRP’s not so impressive performance over the past five-year period, how the coin manages to have a very loyal fan base.
How did ripple build such a loyal army with a chart like this? 😂 pic.twitter.com/gho9W9Aldk
— Sasha Hodder (@sashahodler) December 7, 2022
Ripple’s former Principal Developer Advocate, Matt Hamilton, who spends quite a bit of his time explaining queries and debating rumours about XRP, responded to Sasha that first of all XRP’s performance has been almost at par with the Bitcoin, as he stated people ‘can pick whatever timeframe to suit whatever narrative. Over a long enough timeframe XRP is pretty much on par with Bitcoin.
1) that is a chart of XRP not Ripple
2) you can pick whatever timeframe to suit whatever narrative. Over long enough timeframe XRP is pretty much on par with Bitcoin
3) most people invested in XRP are interested in actual utility not just ponzinomics of something like Bitcoin.
— Matt Hamilton | #LabWeek22 🇵🇹 (@HammerToe) December 8, 2022
He then went on to explain that the reason XRP has ‘Such a Loyal Army’ is that most XRP holders hold the coin for its real utility and for ponzinomics of something like Bitcoin.
Ai-powered chatbot, ChatGPT, has recently explained Ripple, XRP and the strong support it has rather adequately. The ChatGPT stated that while Ripple use both the term, Ripple and XRP, interchangeably, they are not the same thing. Ripple is the blockchain firm that founded XRP, a digital currency. In other words Ripple is XRP’s parent company. Then the Chatbot explained that the reason behind XRP’s strong support is the combination of different factors that appeals to the community.
For instance, Chatbot noted, the transactions that are executed using XRP are relatively faster and cost effective than those performed using Bitcoin or others. Moreover, the partnerships Ripple has with some of the world’s major financial institutions also affirms its credibility.