Wall Street analyst says XRP low price may be the last as XRP will never look back after rising

Wall Street analyst Linda Jones stressed that XRP’s current undervaluation could be its last appearance at this price point, asserting that once it gains the expected upward momentum, there will be no looking back.

Jones expressed this sentiment in a series of posts yesterday, discussing why XRP remains a cheap buy in a bull market. At the time of reporting, XRP was trading at $0.5219, down 12% from its value a month ago.

Over the past nine months, XRP’s price has been fluctuating between $0.4 and $0.7, with the last time it hit $1 being three years ago. It has been consistently stable in the $0.5 range, which was the range it was trading in mid-2018.

Many in the crypto community expressed concern about this disappointing performance.

Nonetheless, major industry commentators continue to assuage investors’ concerns by reassuring them that XRP’s bull phase is imminent.

Wall Street Analyst Explains Why XRP Bulls Are Coming

Linda Jones recently provided some reasons for optimism among XRP enthusiasts regarding an upcoming rally. Her opinion is mainly based on speculative scenarios where XRP is thought to have the potential to become the world’s reserve currency.

This speculative scenario continues to gain traction, originating from Ripple itself. In a blog post seven years ago, Ripple noted that it remained “more committed than ever to the simple goal of making XRP the world’s reserve digital currency.”

Now, Jones points to a trend in which countries, especially the BRICS, are moving away from reliance on the U.S. dollar as a reserve currency and toward reserve currencies backed by assets such as gold.

Members of the XRP community believe that XRP is well suited as an asset-based reserve currency, citing statements from Ripple and some of its executives.

For example, Ripple’s CTO David Schwartz discussed in the Twittersphere last year the nation’s desire for a decentralized reserve currency that would not be dominated by any single country. He suggested that cryptocurrencies like XRP could achieve this goal.

Furthermore, Schwartz acknowledged that if the adoption of digital assets like XRP makes some people wealthy, that is an acceptable outcome.

HODL XRP: No Looking Back

Reflecting on these comments, the Wall Street analyst noted that due to XRP’s current low price, this could be the last chance to see it at such a price.

Jones noted that the lengthy SEC litigation is coming to an end.

Additionally, she expects stablecoin legislation to be introduced this year, followed by broader cryptocurrency legislation.

“XRP will not look back,” Jones stressed. “HODL.”

Opposing Views

While some community members agree with this view, others hold the opposite view. According to XRP enthusiast Rob Leake, these views are “old, outdated fantasies.”

He believes that the possibility of XRP becoming a global reserve currency in our lifetime is almost non-existent. Lick believes these views only serve to mislead people into thinking they can get rich just by holding a small amount of XRP and waiting for Ripple to “flip the switch.”

Instead, he noted that XRP’s actual value will be influenced by the developments and impacts of projects that are actively building on the XRP blockchain, such as Anodos Finance, HelvetX Labs, Baysed Labs, xSPECTAR, and Flare Networks.

Disclaimer: This content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article may contain the personal opinions of the author and do not necessarily reflect the views of The Crypto Basic. Readers are encouraged to conduct in-depth research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.