2023-10-11 23:09 |
A renowned analyst in the crypto community going by the online moniker Crypto Assets Guy has listed a multitude of reasons why he thinks the future of the XRP token is insanely bright.
Reasons To Be Bullish On XRPThe first reason to be highly bullish on XRP, according to Crypto Assets Guy, is the crypto’s regulatory standing in the United States. The analyst noted that it is the only digital asset in the the U.S. “with legal clarity” and “declared not a security.” In truth, only Bitcoin (BTC) and XRP have clear legal statuses in the U.S.
The Securities and Exchange Commission (SEC) has maintained that Bitcoin is not a security under the Howey Test. As for XRP, U.S. District Court Judge Analisa Torres ruled in July that Ripple’s programmatic and institutional sales of the digital token were not securities offerings requiring registration with the SEC.
Crypto Assets Guy also pointed to Ripple’s amazing team that has enabled the company to defeat the SEC twice in court, something never witnessed before.
Another reason for optimism is the fact that the XRP Ledger (XRPL) is “faster, cheaper, and greener” than Bitcoin and Ethereum. The XRPL currently has a transaction throughput of 1500TPS, making it a notable challenger to the top two largest cryptocurrencies. And while Ethereum is widely known for its high gas fees, XRP has “no gas fees. No delays. No bullshit,” Crypto Assets Guy posited.
Touching on XRP’s security, the pundit touted XRP as “the most secure blockchain” as it has never fallen victim to hackers. He then praised the XUMM wallet, distinguishing it from its competitors: “Extremely easy to use (XUMM is better than Metamask from every angle).”
In terms of transparency, Crypto Assets Guy notes that Ripple is the most “transparent digital asset company”. And while the decentralization of XRP is oftentimes a bone of contention in the crypto community, the analyst proclaimed that it is “fully decentralized (do your research).”
He further stated that the next crypto bull run is on the horizon as it’s bound to start ahead of the Bitcoin halving in April 2024. The analyst believes XRP is poised to benefit from incoming liquidity. In fact, he thinks ether whales are moving to XRP because of the ETHGate corruption.
Moreover, spot Bitcoin exchange-traded funds (ETFs) are likely to receive approval in the coming five months — which is uber-bullish for the whole crypto market.
The crypto strategist also points to the equities market plummeting because of the ongoing geopolitical conflicts. He suggests that investors are turning to crypto as a safe haven from stock market turmoil.
Is XRP Primed For Huge Spike To $3.70?Regarding the Ripple vs. SEC lawsuit, Crypto Assets Guy predicted that a settlement could be reached before the forthcoming trial scheduled for April 2024. Notably, Judge Torres ordered both parties to participate in a settlement conference before a final judgment is entered in the case next spring.
Speaking about XRP’s price performance, the pundit suggested the coin is presently undervalued as “it hasn’t reached its old ATH of $3.70 yet.”
Having said that, he celebrated XRP’s uber-passionate supporters, observing: “The XRP community is the most loyal, vocal, and strongest crypto community.”
XRP, the native token of the Ripple protocol, is down 0.8% over the past 24 hours, trading at $0.496574 at the time of publication.
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