Attorney Bill Morgan Responds to Criticism Regarding XRP’s Underperformance, Revealing Why XRP Has Lagged Behind Bitcoin

The broader crypto market experienced a major relief rally this week, propelling the prices of various assets to greater heights.

Attorney Bill Morgan has addressed criticism regarding XRP's underperformance, revealing the legal battle between the U.S. SEC and Ripple as the primary reason behind the coin's lackluster price performance.

The broader crypto market experienced a major rally this week, with prices surging to new heights. However, XRP, the seventh-largest cryptocurrency by market capitalization, has lagged behind with a relatively modest gain.

Following Bitcoin's remarkable growth, an XRP critic took to Twitter to highlight the contrasting price performances of XRP and BTC over the past year. The critic noted that while Bitcoin doubled in value, surging 117% to $75,970, XRP's value plummeted by nearly 25% in the same timeframe.

The critic expressed skepticism about claims that XRP has a greater price return potential, suggesting that the asset's performance does not support this theory.

Bitcoin more than doubled in the last year. Meanwhile XRP is down 25% Keep listening to people who tell you XRP has a bigger price return potential. pic.twitter.com/bU9pYIPFnt

— ????s ??? ??? (aka. ScamDaddy?) (@ScamDetective5) November 6, 2024

Reacting to the criticism, Attorney Morgan indicated that the XRP critic, known as Scam Detective, appears to be particularly preoccupied with XRP. He acknowledged XRP's poor performance, confirming that the token ranks as the worst-performing coin among the top 10 cryptocurrencies over the past year.

You really are obsessed. We all know that XRP is the worst performing coin in the top 10 over the last 12 months and that like many coins it has been obliterated by bitcoin. It is also still in the top 10 and still subject to legal proceedings that have been on foot for 4 years.… https://t.co/VZWoLWFZTN

— bill morgan (@Belisarius2020) November 6,2024

Notably, the lawyer asserted that XRP's underperformance can be attributed to the legal tussle between the SEC and Ripple. He mentioned that XRP has been caught in the crossfire of the lawsuit that has lingered since December 2020, impacting its price.

According to Morgan, some entities still believe XRP is affiliated with Ripple, which is currently in the middle of the SEC war against crypto. For instance, in an article last month, Forbes referred to XRP as “Ripple.” He suggested that this sentiment has continued to have a bearish impact on XRP's price.

Despite XRP's underperformance, compared to other top cryptocurrencies, Morgan highlighted that the coin has maintained its position among the top 10 biggest cryptos by market cap. At press time, XRP ranks as the seventh-biggest cryptocurrency with a market cap of $31.49 billion. It briefly lost this position to Dogecoin yesterday, but immediately reclaimed it.

XRP's daily volume is up 0.12% to $1.94 billion, indicating that it still attracts significant interest among crypto enthusiasts. Currently, XRP is trading at $0.5537 per token, reflecting a 24-hour surge of 3.97%.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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