A small account of less than 200 followers ignited a debate on Crypto Twitter after posting their impressions of a series of XRP sales that David Schwartz, Ripple CTO, was doing over the past few days.
According to Hlnoooo, Mr. Schwartz’s sales are “the most bearish sign for XRP” and warned his followers about the potential negative repercussions of these operations, flagging as suspicious the fact that this whale is disposing of part of its funds.
Hlnoooo acknowledges Schwartz is fully entitled to sell his private stash in whatever way he sees fit, however he explains that what really concenrs him is the evidence he is selling such a large amount just when XRP is at such a low price and many analysts agree that it is very possible that there will be a speedy recovery of the markets.
Schwartz himself responded by conceding that the sale of XRP is part of his de-risking strategy as most of his investments are in Ripple stocks and XRP. So while an increase in the price of XRP can cause immense profits, a fall could also generate more losses than he is willing to face.
This position is quite objective regardless of how involved Schwartz is with Ripple, and although this response was respected and by all, the situation escalated when the rest of the XRP Army “attacked” Hlooo for questioning David Schwartz’s intentions.
The results, according to information from Hlnoooo were shocking. He had more insults than his total number of followers.
Some users debated healthily, arguing that nobody should not assume a priori that Schwartz was shorting XRP for some reason. Some explained that he was simply switching his tokens to fiat to perform traditional operations, others speculated that he might need the money to buy goods, that he wanted to invest it in Ripple shares or some other financial instrument. Another user argued that he could be moving his XRP to some Exchange.
However, another part of the XRP army criticized Hlnoooo calling him a coward, stupid, troll, fake, idiot and accusing him of spreading FUD and BS.
Tribalism is a common phenomenon in CT, some cryptos suffer from this cancer more than others, but this is a toxic behavior that in most cases, when taken to the extreme, has generated terrible consequences for the whole ecosystem.
Perhaps the best thing is to take Jihan Wu’s advice to the BCH community and apply it to the entire crypto-verse, remembering precisely what happened to him when he was overly tribal about a coin: