Top Bitcoiner “Wolf of All Streets” Says XRP is Not Scam

Podcast host Scott Melker, known as “The Wolf of All Streets,” has clarified his stance on XRP following remarks that stirred strong reactions.

For context, speaking on a previous podcast episode with Morgan Creek Capital CEO Mark Yusko, Melker highlighted notable gains in older cryptocurrencies like Ethereum and XRP

He pointed out that Ethereum was up 9% and XRP was up 10% at the time of the show. Melker also noted that on the weekly time frame, ETH had risen 23% while XRP had jumped 33%.

“The fact that an asset increases in price doesn’t mean that the functionality got better. It just means there are more buyers than sellers, so the price rises,” Yusko remarked regarding XRP’s surge.

Moreover, he claimed that the price increase was also due to speculation about XRP’s potential role in government use cases. However, he stressed that there was no direct evidence for such plans.

XRP Army Reacts

XRP influencer “Digital Asset Investor” shared the exchange on X. He highlighted Yusko’s criticism and Melker’s reference to XRP as a “dinosaur altcoin.”

According to him, the root of the criticism stems from the supposed fear among Bitcoin advocates that XRP could one day flip BTC. As a result, they continue to spread FUD, calling it a scam.

Other voices, such as Brad Kimes of Digital Perspectives, also joined the conversation. Kimes expressed concern over what he perceives as deliberate efforts to prevent collaboration between the Bitcoin and XRP communities

He highlighted his intention to foster unity across blockchain communities, noting that he had invited notable Bitcoin figures such as Mark Yusko and Caitlin Long to participate just before their public criticism of Ripple’s application for a bank charter.

“I Don’t Think XRP Is a Scam”

Responding to the backlash, Melker stated that he does not believe XRP is a scam. He even said he doesn’t spend much time thinking about the asset.