XRP, a cryptocurrency that has been around for over a decade, has managed to survive despite facing numerous challenges. Dan Tapiero, the founder of 10T Holdings and a long-time investor, recently praised XRP for its resilience in a tough and rapidly changing industry. In an interview with CoinDesk, Tapiero highlighted the longevity of XRP, stating that the longer it exists, the stronger it becomes.
XRP’s journey has been far from smooth. Its parent company, Ripple Labs, has faced intense criticism and legal battles, including a high-profile lawsuit from the U.S. Securities and Exchange Commission (SEC) that led to XRP being delisted from major U.S. exchanges. At one point, it seemed like XRP might fade into obscurity. However, the token managed to bounce back and has retained a passionate community and continued use cases, despite detractors among Bitcoin and Ethereum supporters.
The recent discussion around ProShares launching XRP exchange-traded funds (ETFs) has sparked renewed interest in the cryptocurrency. However, the announcement has received mixed reactions from the crypto community. Tapiero noted that while Bitcoin and Ethereum dominate the headlines, XRP is carving out its unique identity, especially as it is made in America. He emphasized the significance of this fact given the current administration’s focus on supporting American businesses.
Tapiero has a personal connection to XRP, as it was one of the first cryptocurrencies he traded. He conducted trades in Bitcoin and XRP through a platform called BitReserve, now known as Uphold. His gold firm, Gold Bullion International (GBI), was also the first to allow users to trade gold for XRP and Bitcoin. Reflecting on his experience, Tapiero admitted that he didn’t fully understand XRP at the time and didn’t hold onto it for the long term. However, his takeaway is to never give up on something you believe in, even if you didn’t get in at the very beginning.
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