XRP: The Calm Giant Ready to Roar
XRP's Fate: Revival or Extinction?
In the midst of crypto chaos, one digital asset quietly gathers strength, poised to make a monumental comeback. Analyst John Squire, with a following of 500k on X (formerly Twitter), believes XRP, one of Ripple's cryptocurrencies, has been overlooked for a decade. He sees Ripple as a serious contender, compared to Bitcoin before its social media explosion.
Squire argues that XRP is a force to be reckoned with, especially given Ripple's global partnerships. RippleNet is utilized in over 55 countries, boasting partnerships with powerhouses such as SBI, Tranglo, and Santander. To Squire, XRP isn't just another hyped coin; it's a crypto titan on the brink.
The ongoing lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) hasn't deterred Squire's bullish sentiment. Despite the four-year-long legal battle, Squire notes that Ripple stands alone among the top 10 coins to challenge the U.S. government.
Squire hasn't ruled out the possibility of a spot ETF for Ripple. Given the planned launch of XRP futures by the CME this month and the 10 ETF proposals pending with the SEC, experts anticipate this delay to be merely a timing issue.
Technically, XRP charts are looking quite bullish. Breaking above the $2 level at the end of 2024, XRP managed to hold its ground despite short-term fluctuations. The Relative Strength Index (RSI) is currently showing a bullish trend, with increasing volume going unnoticed. Squier advises buying on the dips, as smart money usually avoids chasing pumps.
Data suggests that whales are steadily accumulating XRP, with approximately $2 billion worth in April alone. Furthermore, the number of whale wallets has reached a record high of over 300,000.
Squire ends by reminding readers that this isn't investment advice, but encourages the notion that hated assets often perform exceptionally well.
With its quiet strength and persistent growth, XRP may very well be the unexpected star of the crypto universe.
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- Despite the ongoing legal battles, analyst John Squire remains bullish on XRP, seeing it as a crypto titan poised to roar in the future.
- In 2024, XRP charts display a bullish trend, with the asset breaking above the $2 level amid short-term fluctuations.
- Whales, significant investors, are steadily accumulating XRP, with around $2 billion worth in April alone, and the number of whale wallets reaching a record high of over 300,000.
- While XRP's strong outlook in finance and investing should be considered, Squire reminds readers that it is essential to do their own research and consult with financial advisors before making any investment decisions.
