‘XRP is the COVID-19 of Crypto Finance,’ Gary Cardano Warns Investors Against Ripple

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The crypto world is once again debating after financial veteran Gary Cardone made some sharp remarks about XRP and its future. In a recent post, Cardone warned that XRP would do whatever it takes to survive — even if it means aligning with what he called “the most oppressive people on planet Earth.” He singled out European officials, accusing them of working to turn Europe into a surveillance-heavy, police-state-like continent.

Cardone went so far as to compare XRP to COVID-19 part two in finance, implying it could become a tool for financial control and oppression. This strong reaction came after a viral claim suggesting that the so-called “European surveillance coin” would run on the XRP Ledger.

In response, pro-XRP lawyer Bill Morgan stepped in to criticize Cardone’s statements. Morgan questioned how a native token on a public, permissionless blockchain like XRP could coordinate with oppressive regimes. “Did it gain sentience?” Morgan asked sarcastically, pointing out the absurdity of the claim.

Why Did Gary Cardone Sell His XRP?

This isn’t the first time Cardone has taken a stand against XRP. Earlier, the 40-year financial industry veteran revealed he sold his entire XRP holdings, worth about $8,000, when the price hit $2.71 per token. At the time, his decision shocked many in the XRP community, which is known for its loyal following.

Cardone listed six personal principles behind his move, including concerns over XRP’s supply and demand transparency, the difficulty in explaining its mechanics, and the risks of getting caught in hype-driven price speculation. He also opened up about the importance of long-term thinking, focusing on a few reliable assets, and avoiding following the crowd.