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The Messari founder takes a jab at XRP amid the latest market-wide bloodbath that has triggered a massive collapse in prices.
A popular saying goes, ‘Don’t kick a dog when it is down,’ but that likely means nothing to Messari founder Ryan Selkis, at least not when it comes to XRP.
Selkis Discourages XRP Buys
Messari founder Ryan Selkis has taken another jab at XRP. In an X post on Thursday, December 19, Selkis made a joke suggesting there is never a good time to buy the asset.
“Now that XRP has fallen below the value of Coinbase, Microstrategy, and Softbank (combined), it’s looking like a good buy again,” he wrote.
The latest criticism comes just days after he slammed members of the XRP community as worthless bot groups on X and as the asset experiences a price dip that some may see as a good buying opportunity.
XRP Slumps in Fed-Led Correction
Over the past two days, the crypto market has endured significant losses, and XRP has not been left out. The asset’s price has recorded a 21% decline from highs of $2.5921 on Wednesday, December 18, to lows of $2.0505 on Friday, December 20.
The losses come as the Federal Reserve looks set to pump the brakes on its quantitative easing measures, which promised to unlock more liquidity for risk markets like crypto.
Details from the Federal Open Market Committee (FOMC) meeting released on Wednesday showed that amid projections of persisting inflation, the central bank planned to engage in only two interest rate cuts in 2025, down from the initial projection of four as of September 2024.
Still, recent market volatility has not stopped some analysts from making bullish calls for XRP. One such analyst, “Amonyx,” has suggested that the asset could surge as high as the $251 price point if it can replicate its March 2017 to January 2018 price action. The asset rallied 60,000% from $0.0055 to $3.31 within this period.
Meanwhile, another analyst, “Casi,” has warned that holding support at $2 could be key to XRP’s recovery.
The bullish calls come as XRP still has regulatory and political winds blowing in its favor amid the incoming Donald Trump administration. At the same time, Ripple recently launched RLUSD, a stablecoin that promises to unlock greater liquidity and sophisticated DeFi applications.