Fox News business reporter Charles Gasparino became the subject of a controversial rift with the community that backs the popular crypto project Ripple (XRP) after claiming that there is no “XRP army” as these enthusiasts typically refer to themselves.
Just a few days after he criticized Judge’s Analisa Torres ruling earlier this month, which put to an end a high-profile legal case between the company and the United States Securities and Exchange Commission (SEC), Gasparino is now slamming the project’s founders and their motives.
In response to a comment from James Rule, a notable supporter and Ripple (XRP) investor, he highlighted that this so-called “army” is just a group of people who have made the developing team rich.
He is referring to Ripple’s Brad Garlinghouse, David Schwartz, and Stuart Alderoty, who are the most prominent public figures and leaders of the blockchain company and whose net worth is estimated to be in the billions of dollars.
The news anchor’s rift with the XRP community started a couple of days ago when he called the Judge’s ruling on the XRP v. SEC case “idiotic”. During an interview with Anthony Pompliano, he claimed that the judge’s distinction between retail and institutional investors and her stance on diminished disclosures established a dangerous precedent.
Gasparino’s comments rapidly drawn severe backlash from XRP supporters, some of which called him a “manipulated parrot” while others asked him to “stay on his lane” referring to his lack of understanding about the crypto space.
Shortly after the ruling, the price of XRP was propelled as investors saw it as a major victory for the blockchain company.
With the additional help of the post-election tailwind, the token accumulates gains of 234% since the year started and have made it the fourth most valuable cryptocurrency with a market cap of $117.87 billion as of today.
XRP Keeps Dropping and Comes Closer to Critical Support Area
The price of XRP has been steadily dropping lately as early buyers may have decided to take some of the profits they brought in November.
After reaching an all-time high of $2.90 on December 3, the token has retreated by 30% and it is currently approaching a critical support area at $1.95. This level has served as a bouncing pad in two occasions already, confirming its importance to market participants.
The Relative Strength Index (RSI) is in a clear downward path, meaning that momentum is in favor of bears while trading volumes have subsided lately and are currently well below the levels seen in mid-to-late November.
Moving forward, traders will be taking a close look at what happens once the price reaches the $1.95 threshold as a drop below could result in further weakness for XRP in the near term.
Meanwhile, a strong bounce above this area could push the token to the $3 level shortly and even higher if there’s enough interest to push the price above the $3.5 mark.
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The post Fox Host Calls Out XRP Supporters – Massive Backlash Erupts Online appeared first on Cryptonews.
