Fox Business Reporter Faces XRP Community Backlash

Fox Business reporter Charles Gasparino has escalated his feud with the XRP community.

Gasparino, a prominent financial reporter, recently stated that there is no “XRP army,” which angered supporters of the fourth-largest cryptocurrency by market cap. He claims the community mainly consists of individuals who “bought the coin and made insiders rich.”

Earlier this week, he criticized the ruling issued by U.S. District Judge Analisa Torres in the Ripple case, calling it “dumb.” He suggested that the SEC may not dismiss the Ripple lawsuit despite the expected departure of Gary Gensler.

In a recent article for the New York Post, Gasparino, citing sources familiar with the matter, stated that the cryptocurrency industry might not get a free pass with libertarian Paul Atniks, who has been nominated to replace Gensler as the new SEC head. Reports suggest that the SEC might continue its longstanding case against Ripple, despite the impending leadership change.

In Q4 2024, the XRP token saw a significant rally. However, according to Gasparino, only insiders truly profited. Notably, the net worth of Ripple co-founder Chris Larsen increased by over $6 billion due to the XRP price surge, although the token has since surrendered a substantial part of its gains.