The third most popular cryptocurrency, XRP is going through a rough patch these days as it is not able to recover its price and the market is flooded with the token. The XRP community is not happy, and investors in the cryptocurrency field are enraged about Ripple’s move of liquidating its XRP tokens to fund operations.
Ripple increased the sale of XRP over the previous three quarters, which inflicted a downward trend in the price of XRP. This sudden increase in the availability of the coins is likely the reason why XRP is underperforming this year.
In the middle of this pressure on XRP and the market controversy, a prominent critic and jokester, Crypto Bitlord who is well known for his off the cuff statements, started a petition on change.org to protest the dumping trend of the founders.
In a Tweet, he mentioned how he would prefer to fork XRP and requested his followers to retweet if they support his idea. Just after a few hours, he added a follow-up tweet telling people how he was receiving death threats for proposing the idea.
I’m thinking about forking $XRP so we don’t have to deal with the founders dumping.
-This will be a community effort.
Retweet if you’re in 🚀🚀🚀
— CRYPTO BITLORD (@Crypto_Bitlord) 26 August 2019
He has made some ridiculous tweets and predictions in the past. He once mentioned USDT, a stablecoin that is valued within $1-$2. In another post, he asked the parents to save money for their children and save their financial future.
He might be joking, but his followers were pretty serious about this whole issue and they made it sure with their comments. Although forking of XRP is possible using the source code of the ledger, with this, a new chain and network will be formed. The problem with this is that new project, if not backed up by people, will unlikely to be acknowledged by the community.
Bitcoin Cash was introduced by slightly changing the code of Bitcoin but the “new XRP” won’t be recognized by exchanges, wallet providers and firms using XRP-based fintech solutions.
