XRP Community Slams Accusations Made By Analyst Claiming XRP Is A Scam And “A Pump And Dump Scheme”

Last week, the Ripple and XRP community was happy to celebrate the fact that their favorite digital asset is finally listed on Coinbase.com.

Their excitement did not last long because someone came and criticized the project once again, calling it a scam.

Jason Bloomberg calls Ripple a “scam”

It was already reported that Forbes writer Jason Bloomberg author of the piece “JPM Coin From JPMorgan Chase vs. Crypto Fans,” Jason Bloomberg slammed Ripple as a scam a while ago.

“While Ripple has been positioning XRP as solving cross-border financial transaction issues among banks, there are also indications that Ripple is essentially a scam. Banks around the world are getting wise, and JPMorgan has timed its release of its coin to fill the void that Ripple’s apparent dishonesty is leaving in the marketplace,” Bloomberg wrote.

According to Ethereumworldnews, the author’s comments towards Ripple definitely lack substantial evidence.

Everyone in the crypto space knows that Ripple has been making a lot of efforts to dissociate itself from the idea that they are controlling XRP.

Debating the nature of Ripple

Now, the author wrote another article in which he debates what nature of business Ripple is running.

“At its core, the Ripple business model is a pump and dump scheme, as it undergoes numerous activities to increase the value of the XRP cryptocurrency (crypto). Unlike most crypto pump and dumps, however, Ripple takes numerous steps to obscure this basic fact,” he writes and also ads a graph.

He also touches issues such as XRP being a security, the liquidity issue, customers, technology and more. We strongly recommend that you read his entire article on Forbes.

The Ripple community fires back

As expected the XRP and Ripple community defended their favorite crypto company and the digital asset XRP. Everyone knows that the community is strong and really active.

They even made a graph similar to the one Bloomberg created.

The Forbes article triggered responses on Twitter and Reddit as well.

People slammed Bloomberg who said more than once that Bitcoin and other digital assets have to disappear.

The post XRP Community Slams Accusations Made By Analyst Claiming XRP Is A Scam And “A Pump And Dump Scheme” appeared first on Oracle Times.

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