Ripple has spent 2026 stacking up business wins, yet one section of the XRP community is becoming visibly frustrated with what those wins have done for XRP price. That frustration surfaced in
Ripple has spent 2026 stacking up business wins, yet one section of the XRP community is becoming visibly frustrated with what those wins have done for XRP price.
That frustration surfaced in an unusually emotional message from XRP supporter Fabrizio Scudu directed at Ripple CEO Brad Garlinghouse and CTO emeritus David Schwartz.
Scudu argued that XRP holders stood beside Ripple through years of regulatory uncertainty and the company’s legal battle, only to watch Ripple build out businesses around stablecoins and institutional infrastructure without XRP reaching the price levels many holders expected.
He went as far as describing $15-$20 or higher as XRP’s “true fair value.”
Attorney and longtime XRP commentator Bill Morgan responded with just six words:
“We must be near the bottom.”
Morgan’s comment appears to be less a price prediction than an observation about sentiment.
Extreme frustration among long-term holders has historically been associated with difficult periods in crypto markets, particularly after expectations become disconnected from price performance.
XRP is trading around $1.25-$1.26 on November 2 and is down roughly 15% over the last month.
That makes Scudu’s proposed $15-$20 valuation particularly ambitious.
We must be near the bottom.
— bill morgan (@Belisarius2020) November 1, 2026
At $15, XRP would need to rise roughly 1,100% from $1.25. At $20, the required move would be approximately 1,500%.
Those numbers illustrate the size of the gap between some community expectations and the current market.
The frustration is particularly interesting because Ripple itself has had an extremely productive few weeks.
The OCC gave final approval for Ripple National Trust Bank in late October. The new entity will manage reserves supporting RLUSD and provide regulated digital asset custody services.
Ripple also expanded its relationship with BNY, partnered with Robinhood and brought RLUSD to Coinbase. RLUSD has already grown to more than $2.5 billion in market value.
Ripple says its product business is approaching a $900 million annualized revenue run rate and now serves more than 1,700 institutions, corporates and enterprises.
But this is where XRP holders need to separate two things.
Ripple becoming a larger and more successful financial technology company does not guarantee that XRP must rise at the same speed.
Ripple is a private company. XRP is an independent digital asset traded by the market.
There is overlap through the XRP Ledger and several Ripple products, but XRP holders do not own equity in Ripple and Ripple has no obligation to engineer a specific token price.
Read also: XRP Price Crash: Analyst Says Binance Hack Only Accelerated What Was Already Coming
Scudu also blamed Ripple’s growing focus on RLUSD and other enterprise products for reducing XRP’s economic potential.
That claim is harder to prove.
RLUSD has clearly become central to Ripple’s strategy. Coinbase, Robinhood, Standard Chartered and BNY are among the institutions now supporting or working with the stablecoin.
But RLUSD does not necessarily need to compete with XRP.
Both can operate on the XRP Ledger, and new institutional activity can potentially increase overall XRPL usage. Ripple’s recent integration with Stripe-owned Privy, for example, supports wallets capable of holding both XRP and RLUSD.
The harder question is how much of that expanding network activity ultimately creates additional demand for XRP itself.
That is the question the market still has to answer.
Scudu’s post captures something that price charts cannot.
Expectations around XRP remain extraordinarily high.
Some holders endured years of regulatory uncertainty expecting legal clarity and Ripple’s institutional expansion to eventually produce a much higher token price.
Much of that progress has now arrived.
The price response has been considerably less dramatic.
Morgan’s reaction therefore makes sense as a sentiment observation. When holders begin writing emotional appeals asking company executives to deliver the price they believe they deserve, market frustration may already be approaching an extreme.
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The post XRP Price Near the Bottom? Bill Morgan Reacts to Emotional Ripple Criticism appeared first on CaptainAltcoin.
