Why Samson Mow Thinks XRP’s Price Drop Was a Long-Awaited Affair!

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In a most spirited display of candour, Mr. Samson Mow, a most ardent supporter of the Bitcoin cause and the esteemed chief executive of the JAN3 enterprise, which is devoted to the noble pursuit of Bitcoin adoption, has taken to the realm of social media to express his sentiments regarding the recent decline in the fortunes of the third largest cryptocurrency, XRP. 🧐

As a staunch maximalist of Bitcoin, Mr. Mow did not hesitate to cast aspersions upon XRP, whilst elucidating his reasons for believing that the inclusion of this digital asset in the prospective U.S. strategic reserve would be a most imprudent decision. One might say, he is not one to mince words! 😏

“$3+ just ridiculous for database entry”

In a rather dramatic turn of events, Mr. Mow took to his X account to comment upon the overnight plummet of XRP, which saw a staggering 11% decline in value over the course of a mere twenty-four hours. He boldly proclaimed that this “pullback was overdue,” as if it were a long-awaited visit from a distant relative. 🥴

According to Mr. Mow, the very notion of XRP trading at the lofty price of $3+ was “just ridiculous for a database entry.” One cannot help but chuckle at the absurdity of it all! 😂

A pullback was overdue. I mean XRP was at $3+ which is just ridiculous for a database entry.

— Samson Mow (@Excellion) January 27, 2025

It is worth noting that Mr. Mow did not deign to mention the intricate relationship between XRP and the broader altcoin market, which is, in fact, closely tethered to the fortunes of Bitcoin. The recent 11% decline in XRP’s value followed closely in the wake of Bitcoin’s own descent, which had plummeted by more than 6%, descending from a dizzying height of above $105,222 to a more modest $98,685 at the time of this writing. Such dramatic fluctuations could make one’s head spin! 😵

This tumultuous turn of events was further exacerbated by the pro-crypto U.S. President Trump, who, in a fit of economic fervour, imposed emergency tariffs of 25% on all imports from Colombia, following a rather unfortunate diplomatic incident involving two U.S. military planes. The President has promised that these tariffs may soon escalate to a staggering 50%. One can only imagine the chaos that ensued! 😱

Mow shares take on “anything but Bitcoin” prospects in U.S. crypto reserve

In yet another tweet, Mr. Mow expressed his disdain for the notion of the U.S. government considering the addition of any cryptocurrency to the much-anticipated strategic crypto reserve, save for Bitcoin itself. He is quite the purist, it seems! 🧐

Mr. Mow contends that this digital asset reserve ought to consist solely of BTC, for to include even the largest of altcoins would merely serve to enrich corporate coffers through unnecessary means. He quipped that adding XRP would merely provide further opportunities for Ripple, whilst Ethereum would serve only to line Mr. Buterin’s pockets with extra steps. How delightfully sarcastic! 😄

Adding XRP to a digital asset reserve is lining Ripple corp pockets with extra steps.

Adding Ethereum to a digital asset reserve is lining Buterin’s pockets with extra steps.

Adding Solana to a digital asset reserve is lining Sacks’ pockets with extra steps.

And so on.

— Samson Mow (@Excellion) January 25, 2025

It is rather amusing that Mr. Mow neglected to mention that the inclusion of Bitcoin in the U.S. Strategic Reserve would likely serve to enrich the pockets of Mr. Michael Saylor’s MicroStrategy, BlackRock, and other such financial entities. But alas, one cannot expect every detail to be addressed! 😏

This past weekend, Mr. Mow tweeted that there exist many more reasons for the Bitcoin community to harbour ill feelings towards Ripple and XRP than they are presently aware of. One can only wonder what further revelations he may have in store! 🤔

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2025-01-27 16:38