XRP News Today: USA Today XRP Endorsement Sparks Crypto Debate and Legal Scrutiny

USA Today recently sparked a firestorm in the cryptocurrency community with a post claiming that “XRP is the smartest cryptocurrency to buy with $500 right now,” according to a report from Bitcoin.com [1]. The article, attributed to Motley Fool contributor Will Ebiefung, was shared with the publication’s 5.1 million X followers and quickly drew sharp criticism from both XRP detractors and those questioning the integrity of media coverage in the crypto space [1].

The controversy intensified as critics labeled the article as potentially misleading, with one user sarcastically remarking, “Smartest way to waste $500,” while another accused the post of being “fake news.” Some even questioned the credibility of Ebiefung, noting that in 2022 he had recommended the now-much-devalued token SAND, which had fallen from around $4 to under $0.2577 by early 2024 [1]. Others called out USA Today for failing to include necessary disclaimers, suggesting the post amounted to unregulated financial advice [1].

XRP supporters, however, celebrated the attention the article brought, with one user humorously declaring, “Let the cope begin,” while another argued, “People don’t sleep on XRP. Don’t listen to all the haters.” The polarized reactions highlight the deep divides within the crypto community, where trust in media and institutional analysis remains a contentious issue [1].

Meanwhile, XRP’s price action mirrored the volatility of the broader market. The token briefly pushed above $3 amid heightened trading volumes but quickly retraced, settling near its previous levels. Analysts pointed to increased interest in XRP-based products, such as the Teucrium XRP ETF, which has seen significant inflows [4]. However, recent price movements indicate a cooling of sentiment, with the token falling below $3 amid profit-taking and bearish signals [5].

The timing of USA Today’s endorsement also raised eyebrows due to the ongoing legal battle between Ripple and the SEC. Legal experts are closely watching how the SEC responds to recent developments, as the outcome could determine XRP’s regulatory status and its future in institutional markets [2]. Ripple has emphasized its role in advancing blockchain infrastructure, citing over $100 billion in bank investments in the space since 2020 [7]. Nonetheless, the uncertainty surrounding the case continues to weigh on XRP’s broader adoption and market perception.

Industry observers remain divided on XRP’s long-term potential. Some argue that the token is well-positioned to facilitate tokenized asset transfers across jurisdictions, while others warn that the unresolved legal and regulatory issues represent a significant hurdle [8]. On exchanges, XRP has shown mixed performance, with Coinbase reporting increased transaction revenue from XRP compared to Ethereum [9]. Despite this, the token has faced downward pressure in recent trading sessions, raising concerns about whether the recent declines are a temporary pullback or the beginning of a larger downturn [5].

The incident underscores a broader debate about the role of mainstream media in shaping public perception and investment decisions in the crypto space. While some defend USA Today’s coverage as a legitimate assessment of XRP’s fundamentals and adoption trends, others argue that such endorsements can mislead retail investors who may not fully grasp the risks involved [1].

Source:

[1] "Smartest Buy or Dumbest Bet?" USA Today’s XRP Post Triggers Outrage – https://news.bitcoin.com/smartest-buy-or-dumbest-bet-usa-todays-xrp-post-triggers-outrage/

[2] SEC v Ripple: SEC Has Just Days Left to Respond on XRP Case – https://public.com/crypto/xrp/news