Dom Kwok Criticizes XRP Critics, Calls Attacks a Waste of Time

TLDR

• Dom Kwok, a Goldman Sachs veteran, criticizes XRP critics for being uninformed and unproductive in their attacks on the cryptocurrency.
• Kwok defends XRP by pointing out that critics focus on outflows while ignoring significant net inflows into the asset.
• He claims that critics attacking XRP without understanding its growth reflect a “very low IQ” and waste valuable time.
• Kwok emphasizes that individuals attacking XRP have never built anything themselves and miss out on potential profits.
• Despite modest price movements, XRP continues to perform well, with a recent price increase and potential for further growth.

Goldman Sachs veteran Dom Kwok has fiercely criticized critics of XRP. He responded to those who continue to attack the fourth-ranked cryptocurrency. Kwok believes these critics are uninformed, unproductive, and waste valuable time criticizing the asset without understanding its potential.

Kwok’s Response to XRP Critics

Kwok recently reacted to a post that pointed out how an XRP critic was proven wrong. The critic had mocked XRP for significant outflows in the exchange-traded funds (ETFs) market. However, Kwok argued that such views were misguided, focusing on outflows while ignoring the net inflows.

Kwok dismissed the critic’s analysis, which emphasized XRP’s $40 million ETF outflow. He pointed out that during the same period, XRP saw a net inflow of over $7.9 million. According to Kwok, this shows a more balanced picture of XRP’s performance and growth.

Critics’ Ignorance Towards XRP’s Growth

Kwok strongly criticized those who have continuously targeted XRP without understanding its development. He stated that betting against XRP or endlessly attacking it reflects a “very low IQ.” The veteran argued that critics fail to see the profit XRP is generating.

Kwok emphasized that these critics have never built anything themselves. He believes such individuals waste their time attacking XRP instead of considering ways to profit from it. He remarked that many of these individuals are likely frustrated with their own financial situation.

XRP’s price movements showed a modest increase. The cryptocurrency rebounded from a daily low of $2.07 to reach a peak of $2.16. As of press time, XRP was trading at $2.09, up by 0.88% over the last 24 hours.

Despite the slight increase, trading volume has been relatively low. XRP’s trading volume dropped by 15.43% to $3.81 billion. The Relative Strength Index (RSI) for XRP stands at 56.03, signaling neutral market conditions. However, Kwok suggested that if trading volume picks up, XRP could reach higher price levels.

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