How Purchasing XRP at $0.52 Might Lead to Substantial Wealth
Linda Jones, a Wall Street analyst, has voiced her confidence in the potential of XRP, suggesting that its current undervaluation could present a unique opportunity for investors. She emphasized that once XRP gains bullish momentum, it will be difficult for the cryptocurrency to return to its current low levels.
Jones has expressed her conviction through a series of posts, outlining her reasons and hinting at the possibility of a significant bullish run for XRP. At present, XRP is valued at $0.5219, representing a 12% drop from its value a month ago.
Over the past nine months, XRP has demonstrated weak performance, mostly hovering between $0.4 and $0.7 and failing to reach the $1 mark for the past three years.
However, Jones and other analysts in the industry believe that a rally is on the horizon, potentially triggered by the resolution of the SEC lawsuit and other positive developments in the crypto industry.
Jones’s optimism is grounded in her belief that XRP has the potential to become a world reserve currency. This belief stems from Ripple’s declaration seven years ago that their goal is to establish XRP as the world’s reserve digital currency. Ripple’s objectives have been gaining momentum, with strong support from the XRP community.
Jones highlighted the current shift among nations, particularly those in the BRICS group, towards asset-backed reserves like gold instead of relying on the US dollar as a reserve currency. She suggested that XRP could serve as an asset-based reserve currency, a notion previously endorsed by David Schwartz, Ripple’s CTO, in a Twitter Space conversation last year about a decentralized reserve currency.
Jones believes that XRP’s current low price presents a final opportunity for investors, considering the various factors influencing its value. She anticipates that the conclusion of the SEC lawsuit will likely drive up XRP’s price, as analysis indicates that the lawsuit has been a major deterrent for Ripple’s native cryptocurrency.
Additionally, Jones expects the implementation of stablecoin legislation in 2024, followed by comprehensive crypto legislation in 2025. She stated that once these circumstances align favorably, there will be no turning back for XRP, and holding onto the cryptocurrency will likely result in significant gains for investors.
While Jones’s remarks are optimistic, not everyone shares her enthusiasm. Some members of the XRP community, like Rob Licker, dismiss these beliefs as “antiquated hopium.” Licker argues that the idea of XRP becoming a global store of value is highly unlikely.
In his opinion, such narratives are misleading and may give investors false hope that holding a small amount of XRP will lead to sudden wealth when Ripple decides to make a significant move. Instead, Licker believes that the true value of XRP lies in the successful development and implementation of projects built on the XRP blockchain.
Opinions are divided regarding XRP’s potential as a world reserve currency and its likelihood of experiencing a bullish trend. Linda Jones’s assessment, however, offers a much-needed positive outlook for investors. Only time will tell if her predictions will lead to a surge in XRP’s price, but the crypto community will undoubtedly closely monitor developments in the coming months.