Blockchain Analyst Dismisses Allegations of Ripple Paying Influencers – Coinpedia Fintech News
June 26, 2023Crypto sleuth, Mr. Huber, debunked Darkhorse’s claims of Ripple buying influencers to promote XRP.
Mr. Huber defended Ripple’s strategies, such as generating speculative interest and increasing positive press coverage as normal practices.
He also highlighted Ripple’s focus on identifying customer segments and combating misinformation about supply and decentralization.
Renowned crypto sleuth known as Mr. Huber has taken to social media to debunk claims suggesting Ripple’s involvement in purchasing influencers to promote its digital asset, XRP. The allegations were initially proposed by Darkhorse, a self-proclaimed crypto researcher who questioned the integrity of the XRP influencer network in a recent tweet.
Unpacking Ripple’s Strategy
Prompted by Darkhorse’s speculation, Mr. Huber posted a detailed explanation, breaking down the points highlighted in the court documents attached to the initial tweet. Contrary to the implications made by Darkhorse, Mr. Huber underlined that Ripple’s actions did not imply any manipulation or foul play.
He added that a closer look at Ripple’s approach shows that the digital currency company aims to “generate speculative interest in XRP,” an action deemed unsavory by some, but not unusual in the world of cryptocurrency.
Furthermore, Mr. Huber noted that Ripple’s intention to increase positive press for XRP by 25% is not inherently problematic but a standard public relations strategy for any project seeking broader recognition.
Identifying Market Segments and Debunking FUD
Next, Mr. Huber brought attention to Ripple’s strategy to identify customer segments and potential new customers, or “260 MQLs,” as an ordinary business move. The firm’s intent to clarify XRP’s use case and product vision, and to debunk Fear, Uncertainty, and Doubt (FUD) about supply and decentralization, were also highlighted as typical actions taken by any project to combat misinformation.
Mr. Huber continued his analysis by addressing Ripple’s plans to “show off technical superiority,” a move he described as Ripple’s aim to demonstrate the advanced capabilities of the XRP Ledger (XRPL).
Lastly, he explained Ripple’s goal of creating and activating a network of XRP influencers through key events and the hiring of marketing staff as a common marketing strategy.
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