Ripple in Trouble: Is the Altcoin Legitimate?

[MRM]

Talks about Ripple being a scam pop up every now and then. The altcoin’s runner, Brad Garlinghouse even had to handle several lawsuits concerning registration problems. Nevertheless, XRP remains the third-largest by market cap.

First discussions about Ripple’s legitimacy were triggered by its partially centralized nature, allowing for the possibility of manipulation. As Forbes reported back in 2019, XRP’s value was based on a pump and dump scheme, where price volatility was artificially decreased or increased.

For this reason, some community members have even expressed the idea that the project was a scam. In Reddit, a user with the nickname Collector warned the community against dealing with the altcoin, claiming that it is “more controllable than fiat”. The same aim is pursued by the Twitter community called “The XRP Scam reality”, which gathers bad news about XRP, allegedly to prove the altcoin is not legitimate.
Source: https://coinidol.com/ripple-altcoin-legitimate/