CoinMarketCap takes a jab at XRP for this Fundamental Reason

Sahana Kiran
Source – Wallpaper Cave

The XRP vs. SEC lawsuit has taken over the crypto spotlight since 2020. While this lawsuit persists, an array of individuals from the crypto community have extended support to Ripple. Now, however, prominent crypto data aggregator, CoinMarketCap [CMC] went on to take a dig at the altcoin and even suggested that it lacked the true essence of a cryptocurrency.

Earlier today, CoinMarketCap took to Twitter and shared an image inspired by the popular game, Among Us. The game requires players to figure out the imposter and call them out. Giving it a touch of crypto, CMC asked the community to filter out the imposter among nine cryptocurrencies.

Source – Twitter

Crypto Twitter was at it. An array of them came forward and voted on who the imposter was. This contentious tweet agitated maximalists of certain assets to brawl in the comment section. Furthermore, CoinMarketCap decided to put a stop to this by calling out the real imposter.

The platform stirred more controversy after labeling XRP as the imposter. CMC outrightly suggested that XRP was controlled by authorities. The platform pointed out that the altcoin defeated the ethos of crypto which is decentralization.

CoinMarketCap’s tweet read,

“The answer: $XRP – for being controlled and governed by authorities, hence defeating the purpose of #cryptocurrency 😉
All the other coins in this are decentralized and are basically “people’s crypto”.

CoinMarketCap receives immense backlash

The crypto-verse is full of memes and witticisms. While some members of the community assumed that CMC wasn’t being serious, the XRP Army was visibly enraged.

The XRP Army is one of the biggest and most loyal communities in the crypto-verse. Therefore, members of the community came forward to bash CMC for its latest statement.

Additionally, some even suggested that CoinMarketCap’s latest statement was an act of attention-seeking. It looks like CMC would be losing out on a lot of users and this list would be dominated by the XRP Army.

Meanwhile, XRP was dropping by nearly 2 percent over the last 24-hours. At press time, the altcoin was trading for $0.6369.