XRP has been on a spectacular rise recently, catching the attention of both supporters and critics alike. While the cryptocurrency has surged significantly in the past few weeks, Bitcoin maximalists are raising concerns about the sustainability of XRP’s price movement, with some warning of a potential collapse, which they dub the “mother of all rug pulls.”

XRP’s Recent Rally: A Cause for Concern?

XRP has been one of the best-performing cryptocurrencies in recent times, closing November with an impressive 283% gain and continuing its upward momentum into December, where it saw another 31% rise in the first few days. The rally has drawn praise from XRP supporters, who attribute it to the recovery of the market after a long period of suppression, especially after the protracted legal battles with the U.S. Securities and Exchange Commission (SEC).

However, this rise has not gone unnoticed by Bitcoin maximalists, who view XRP’s performance with skepticism. These critics argue that the rally is unsustainable and could end in a sharp collapse. The most vocal among them is a prominent Bitcoin proponent known as “BitMan,” who posted a chart comparing XRP’s all-time gain of 45,920% to its recent performance. He suggested that the current rally could end disastrously, labeling it the “mother of all rug pulls.”

Bitcoin Maximalists’ Concerns About XRP

The concerns from Bitcoin maximalists are based on the belief that XRP’s rise is not based on organic market forces. Rajat Soni, a Chartered Financial Analyst and vocal Bitcoin maxi, echoed similar sentiments, calling the rally “unnatural” and questioning how XRP managed to rise by 435% since November 2 while only increasing by 11% since 2018. According to Soni, such behavior suggests that the rally may be part of a pump-and-dump scheme, rather than a natural price increase driven by market fundamentals.

Soni’s remarks have ignited a debate within the crypto community, with some defending XRP’s recent surge. Kaptain Kirk, a market commentator, argued that XRP’s rally is simply a correction after years of suppression due to the SEC lawsuit. Kirk believes the recent price surge is a return to XRP’s natural value, which had been artificially deflated due to the prolonged legal challenges faced by the token.

XRP’s Outperformance Against Bitcoin

One of the most notable aspects of XRP’s recent price movement is its outperformance against Bitcoin. The XRP/BTC pair surged by an astounding 179.14% in November and climbed an additional 32% in December, reaching its highest level in 18 months. This outperformance has caught the attention of Bitcoin maximalists, who view XRP’s rise as a threat to Bitcoin’s dominance.

Bitcoin supporters argue that XRP’s recent gains are purely speculative, driven by short-term trading rather than long-term fundamentals. These critics claim that the recent surge could be a bubble waiting to burst, similar to the dramatic price collapses seen in the past.

XRP Advocates Defend the Token’s Surge

Despite the criticism from Bitcoin maximalists, many within the XRP community remain bullish on the token’s future. Tony Edward, the host of the Thinking Crypto podcast, defended XRP, pointing out that the token has consistently ranked among the top 10 cryptocurrencies for years. Edward dismissed the claims of a rug pull, suggesting that Bitcoin itself experiences significant sell-offs during market corrections and that such price movements are part of the natural market cycle.

Moreover, XRP’s recent rise has been fueled by renewed confidence in the token. Many investors are hopeful that the outcome of the SEC lawsuit will be favorable for XRP, especially with the prospect of a pro-crypto administration under former President Trump. This has led to a wave of optimism, with some speculating that XRP could continue to rise in the future.

Conclusion

As XRP continues its strong performance, Bitcoin maximalists remain wary, warning that the rally could be unsustainable and lead to a significant price collapse. Despite the skepticism, XRP supporters argue that the token’s recent surge is a healthy correction after years of suppression, driven by renewed investor confidence and a potential favorable regulatory environment.

The future of XRP remains uncertain, but it is clear that the debate between XRP advocates and Bitcoin maximalists will continue as the cryptocurrency market evolves. For now, XRP’s impressive gains are being watched closely, with many investors wondering if the token can maintain its momentum or if it will eventually face a major correction.