XRP critics are leveraging the ongoing dip to cast doubt on the asset, warning that its uptrend has ended and that investors may be stuck holding bags for an extended period.
Joining this trend is Atomic Wallet, a well-known non-custodial decentralized wallet in the crypto community. In the last few days, it has been spreading FUD about XRP after previously being sarcastically bullish on the coin.
Atomic Wallet posted a critical tweet, asking XRP holders whether they have plans if XRP drops to $0.50. This came after XRP broke the $2 mark, reaching a seven-year high of $2.87. Notably, XRP achieved this feat after several weeks of massive green candles, amounting to a 485% surge over four weeks.
While XRP proponents were proud of this outcome, critics like Atomic Wallet expressed concerns that the gains were unsustainable. They pointed to historical trends where XRP’s sharp uptrends were often followed by major corrections weeks later.
“XRP Will Not Reach $3 Again”
In a tweet, Atomic Wallet emphasized that XRP had already plummeted significantly since hitting its seven-year high. Notably, XRP came close to losing the $2 range during yesterday’s market-wide correction.
With its price hitting $2.06, this implies a loss of approximately 28.22% from its recent peak of $2.87 for holders.
Accordingly, Atomic Wallet mocked holders by asking if they had plans for another seven years of downturn. It went on to challenge that XRP will never break back into the $3 range, stating it would delete its X account if XRP ever reaches $3.
Atomic Wallet XRP
XRP Army Calls for Boycott of Atomic Wallet
However, these critical statements have been strongly resisted by members of the XRP Army. Commentators have urged Atomic Wallet to focus its energy on securing its platform, referencing the multi-million-dollar hack in 2023.
Other prominent figures, like Panos Mekras, urged Atomic Wallet to not only delete its X account but to dissolve its business entirely.
Amid this controversy, many members of the XRP community have called for a boycott of Atomic Wallet, encouraging users to switch to other pro-XRP wallet services for their crypto solutions.
At the same time, others find Atomic Wallet’s recent pivot paradoxical, considering previous positive posts about XRP.
For instance, on December 2, Atomic Wallet tweeted that it wouldn’t sell XRP until it hit $300, though this statement was sarcastic. Similarly, the wallet had previously encouraged market participants to buy XRP through its services.
