James Seyffart Clarifies XRP Joke Amid Community Backlash

• The XRP community reacted negatively to James Seyffart when he made a joke during a Bitcoin conference.
• Seyffart clarified his support for Ripple and urged the XRP community to be more relaxed.

James Seyffart, Bloomberg’s senior crypto analyst, sparked controversy after making a joke about XRP at a Bitcoin conference. The event attracted international attention after an X user, Subjective Views, tweeted about Seyffart’s comments during an interview with BlackRock’s Head of Digital Assets.

The tweet stated that Seyffart’s XRP joke elicited rapid criticism from the XRP community on social media, demonstrating the sensitivity and dedication of XRP fans.

Seyffart Addresses Backlash and Clarifies Support for Ripple 

Recognizing the backlash, Seyffart turned to Twitter, where he noted that the XRP community was seeking to cancel him over a joke. His initial reaction appeared casual, implying that he was not unduly bothered by the criticism he received.

For all the XRP guys in my mentions. I don't hate XRP. It was a joke geared toward my audience and a joke that landed well. Hell — I'm absolutely rooting for Ripple in court against SEC. I personally think the SEC has vastly over-reached in many areas including with Ripple/XRP.…

— James Seyffart (@JSeyff) July 26, 2024

To address the unfavorable reactions more seriously, Seyffart clarified his views in a subsequent tweet. He made it clear that he does not dislike XRP and that the joke was intended to entertain his audience.

Furthermore, he indicated his support for Ripple in its continuing legal struggle with the SEC, denouncing what he saw as the agency’s overreach.

Also, Seyffart suggested that if a lighthearted joke offended the community so much, they should reassess their priorities and adopt a more laid-back attitude. His objective was to reassure the XRP community that he supported Ripple while also encouraging them to take his joke lightly.

This occurrence occurs at a time when XRP’s market performance has been impressive. According to CoinMarketCap, the price of XRP was about $0.6081 at the time of writing, representing a 1.87% increase over the last 24 hours. Furthermore, XRP has reflected a bullish trend in the last week, gaining by 2.85%.

More impressively, XRP has outperformed Ethereum (ETH), rising 34.24% over the past two weeks, according to a prior CNF report. Experts are confident about XRP’s future, anticipating that the asset will rise even further.

Furthermore, as we previously highlighted, Stuart Alderotty, Ripple’s Chief Legal Officer, made news when he donated $300,000 worth of XRP to Donald Trump’s campaign. This donation was converted to USDC in accordance with Trump’s campaign policy of accepting cryptocurrency donations.

This move by Alderotty demonstrates Ripple and its executives continuous involvement and influence in the broader financial and political landscapes.