Ripple CTO At Loggerheads With Charles Hoskinson Over Unruly Comment
The relationship between former Ethereum and Cardano co-founder Charles Hoskinson with the Ripple Community is now over following a recent comment made by Hoskinson. Hoskinson had previously claimed that the XRP army is toxic, prompting the Ripple CTO, David Schwartz, to ask him to take some time and observe comments regarding XRP and the Ripple Community.
Ripple’s CTO Responds To Hoskinson’s Statement
In response to Hoskins’s insensitive comment about the Ripple community being toxic, Schwartz suggested that Hoskinson rethinks his choice of words and determines if it’s appropriate for the Ripple token and community. However, Hoskinson stated that his thoughts on the community and its token are final.
It is not the first time Hoskinson would be at loggerheads with the Ripple community regarding the Ripple network and its native token. As the controversy continued, the Cardano co-founder and Ripple CTO continued their war of words, with Hoskinson stating that the XRP token has no technical value nor partnership.
In a controversial tweet, he expressed his decision to keep a distance from the toxicity exhibited by the XRP army. However, Hoskinson has been known for making disdainful comments about other crypto projects. Hence, his hateful remarks on Ripple and the altcoin community aren’t new.
Instead, the Cardano co-founder shared a video stating that he had more important things to do than arguing back and forth on social media about Ripple and XRP. Then, he said he would refrain from commenting on the US SEC lawsuit against Ripple.
Hoskinson’s comments that Ripple’s lawsuit will be settled with US financial regulatory bodies by December 15 caused a criticism outburst from the community, labeling him as untrustworthy. However, the Cardano co-founder argued that the XRP community mocked him for revealing the conspiracy theories linked to the case.
He further stated that XRP is ready to attack people that pose no threat to its existence. XRP had a more positive performance than Cardano (ADA) when comparing the two altcoins’ 12-month performance.
Crypto Market Downturn And Crypto Prices
The ongoing crypto market downturn and other macroeconomic factors have contributed to the huge volatility recorded by cryptocurrencies since the start of the year. Hence, the prices of Ripple and Cardano’s governance tokens, XRP, and ADA, continue to trade way below last year’s prices.
XRP recorded a 58.7% paper loss for its holders over the last 12 months. Similarly, ADA holders recorded an annual paper loss of 78.8%.
However, the contributing factor to the decline in the price of the XRP token is its ongoing lawsuit between the Ripple network and the United States Security and Exchange Commission. As the year ends, experts opine that the lawsuit will end with a positive result which will favor the crypto firm.
They also predict that the case’s outcome will determine the direction of XRP’s price action.
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