Just John Deaton, cryptocurrency enthusiast, in an interview from the Bit Boy Crypto channel, who are the diamond hands or diamond hands and why are the holders of the Ripple XRP token named that way.
At the end of 2020, XRP receives a lawsuit by the Security and Exchanges Commission of the United States of America (SEC), due to alleged breaches of the rules that govern what is or is not a security (shares that are listed on the United States Stock Exchange United). It is assumed that due to the way in which XRP pre-sold its token between 2012 and 2014, it meets the necessary standards to connote XRP as a security and not as a currency. This case has seen the price of XRP suffer in the current bullrun and more than suppressed due to the exclusion in the main exchanges of the United States, among them, Coinbase and Binance US. This negatively affects the performance of price action for XRP but it is not all that bad nevertheless.
The XRP community knows the value of this asset and they understand that the potential of XRP is very great and despite the fact that Ripple is under the eye of the hurricane, this year it managed to make a performance of more than 1600% from January to April already As of today, that performance, despite the drop in prices, remains at 700% with one month remaining until the end of the year.
Diamond hands are all XRP holders who do not sell their tokens because they understand the great potential and know that Ripple has been working hard despite the setbacks that the accusations by the SEC have caused. Brad Garlinghouse, CEO of the financial technology company Ripple Labs, remains very positive and in his statements hints that Ripple has nothing to fear and that everything is under the legal framework, even making us feel the necessary need for them to Token holders do not sell their positions.
Most XRP maximalists think that very soon the SEC will be reaching an agreement to close the case in which Ripple Labs would be the winner, on the other hand, the company has been much more forceful in its defense than the SEC in its case, which has also managed to keep XRP's price stable at around $ 1. The price at the beginning of the year was around US $ 0.2 and is now above US $ 1 which, however, from the point of view of diamond hands, is still a bargain price.
