Wall Street Analyst Foresees Bullish Future for Undervalued XRP
Wall Street analyst Linda Jones has emphasized that the current low valuation of XRP may be its final appearance at such levels, asserting that once it gains the expected bullish momentum, there will be no turning back.
Jones voiced this sentiment in a series of posts on X (formerly Twitter) yesterday, discussing why XRP remains an attractive buy in the current bull market. At the time of reporting, XRP trades at $0.5219, down 12% from its value a month ago.
Over the past nine months, XRP has hovered around the $0.4 and $0.7 price range, with the $1 level last seen three years ago. Notably, it has consistently stayed within the $0.5 range, the same as its mid-2018 trading levels.
Many in the crypto community have expressed concerns about this underwhelming performance. However, leading industry commentators continue to assure investors that a bullish phase for XRP is on the horizon, set to alleviate their worries.
Ripple’s Vision for XRP as a Global Reserve Currency
Linda Jones based her optimistic view largely on the speculative scenario of XRP potentially becoming a world reserve currency. This speculation traces back to a blog post by Ripple seven years ago, where the company stated its commitment to making XRP the world’s reserve digital currency.
Jones pointed out the shifting trend where nations, particularly those in the BRICS group, are transitioning from relying on the U.S. dollar as a reserve currency to asset-backed reserves like gold. Members of the XRP community believe that XRP is well-suited to serve as an asset-based reserve, drawing on Ripple’s statement and comments from its executives.
Ripple’s CTO, David Schwartz, discussed the desire among nations for a decentralized reserve currency that no single country could dominate, suggesting that cryptocurrencies such as XRP could fulfill this role. Schwartz also acknowledged that if the adoption of digital assets like XRP made some individuals wealthy, that would be an acceptable outcome.
The Final Opportunity to Buy XRP at Current Levels
Reflecting on these factors, the Wall Street analyst remarked that with XRP’s price at its current low, it might be the final opportunity to see it at such levels. Jones noted that the protracted SEC lawsuit against Ripple is nearing its end, and she anticipates stablecoin legislation to be enacted this year, followed by broader crypto legislation in 2025.
“There will be no looking back [for XRP],” Jones remarked, emphasizing the need for investors to “HODL” (hold on to their XRP).
Opposing Views and the Actual Value of XRP
While some community members support this view, others share opposing perspectives. According to XRP enthusiast Rob Licker, the reflected narratives “are so old, antiquated hopium.” He contended that the likelihood of XRP becoming a global reserve currency within our lifetimes is practically nonexistent, and such views only serve to delude people into thinking they will become wealthy by merely holding a small amount of XRP.
Licker believes the actual value of XRP will be influenced by the development and impact of projects like Anodos Finance, HelvetX Labs, Baysed Labs, xSPECTAR, and Flare Networks, which are actively building on the XRP blockchain.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
