Why Buying XRP at $0.52 Could Make You Rich
The post Why Buying XRP at $0.52 Could Make You Rich appeared first on Coinpedia Fintech News
Wall Street analyst Linda Jones has expressed her faith in XRP, stating that its current low valuation may be a unique opportunity for investors. She pointed out that once XRP gains bullish momentum, it will be impossible to return to the current low levels.
Linda Jones’ Bullish Outlook on XRP
In an X series of posts, Jones has demonstrated her conviction of this situation by presenting her reasons and hinting that there is a potential for a significant bullish run for XRP. During the reporting, XRP is at $0.5219, a value following a drop of 12% from its value a month ago.
XRP has continued to show weak moves during the last nine months. It mostly stays in the $0.4 and $0.7 ranges and has not touched its $1 range in the last three years.
Yet Jones and the other analysts of the same industry state that the rally is imminent, most probably due to the culmination of the SEC lawsuit and other positive developments in the crypto industry.
XRP’s Speculative Potential as a World Reserve Currency
Linda Jones’s optimism is backed by her belief that the future of XRP is bright, as it might turn out to be a world reserve currency. This belief is rooted in Ripple’s declaration seven years ago that they want to render XRP the world’s reserve digital currency. Ripple’s goals are gaining momentum; in particular, there are many supporters among the XRP community.
Jones mentioned the current transition, in which nations, especially from the BRICS group, are departing from keeping the U.S. dollar as a reserve currency and choosing asset-backed reserves like gold instead. She reported that XRP could be considered an asset-based reserve currency, which is what David Schwartz, the CTO at Ripple, had previously stated in Twitter Space last year on a decentralized reserve currency.
Expectations for XRP’s Bullish Future
Jones believes that XRP’s current low price is a last opportunity for investors, given that multiple factors affect the price.
She expects that the imminent end to the SEC lawsuit will likely push XRP’s price higher, as analysis shows that the SEC vs. Ripple lawsuit is one of the major factors weighing down the price of Ripple’s native XRP.
Furthermore, Jones anticipates that although stablecoin legislation will be implemented in 2024, comprehensive crypto legislation will be enacted in 2025.
Jones stated that once these circumstances change into favorable ones, there is “no looking back” for XRP, as “HODL” is the only option. It would probably continue to push the XRP price up, which could make some investors richer if they hold on to their XRP assets.
Jones’ remarks are optimistic, but not all share her excitement. The XRP community has certain people like Rob Licker who call these beliefs “antiquated hopium.” Licker contends that the idea of XRP becoming a global store of value is extremely unlikely.
In his view, such narratives are misleading, for they may mislead investors into thinking that holding a small amount of XRP will make them suddenly rich when Ripple “flips a switch.”
Instead, according to Licker, the true value of XRP lies in the developments and projects built on the XRP blockchain that will succeed and have a positive impact. He thinks that the ones that will make XRP value rise in the future are not those rumours but real projects.
While opinions are divided on XRP’s chances as a world reserve currency and its probability of going bullish, Linda Jones’s assessment provides a much-needed positive outlook for investors. It is to be seen whether this will lead to a situation in which the price of XRP will surge, but the crypto community will certainly monitor development in the coming months.
