CoinMarketCap Calls XRP Decentralized, Lacks Crypto Essence

Since 2020, the XRP vs. SEC lawsuit has created shock waves in the crypto realm. Although many crypto enthusiasts have extended their support and wish for Ripple, the latest comment by CoinMarketCap is now the hot topic.

The crypto data aggregator tweeted that XRP has nothing to do with crypto, as it lacked the values of a decentralized cryptocurrency. The post read that XRP is controlled and governed by authorities and therefore, the altcoin has lost the purpose of crypto.

CoinMaketCap further added that all other coins are decentralized and basically known as “people’s crypto.” Additionally, it took to Twitter using the image of the popular game, Among Us, indicating that XRP was an “imposter.” CoinMarketCap displayed the gamified images of nine cryptos asking the audience to identify the imposter. Among Us is a game where players need to find imposters and point them out.

However, in response to CoinMarketCap’s defamatory post, a blockchain research platform — Citizen of the Future— tweeted that CoinMarketCap is stating the exact opposite of the IMF news which claims XRP is decentralized.

Also, another Twitter user named XRPGoat commented that it is clear XRP holders have to deal with the most utter nonsense on Crypto Twitter.

The US Securities and Exchanges Commission (SEC) registered a lawsuit against Ripple Labs in December 2022. The SEC claimed that Ripple raised nearly $1,3 billion in illegal ways. Significantly, if SEC wins the case, XRP, which is the native cryptocurrency of Ripple, will be then considered as security, instead of a currency in the US.