Wall Street analyst Linda Jones has stressed that the current undervaluation of XRP could be its last occurrence at such levels, firmly stating that once it gains bullish momentum, there will be no turning back.
Jones expressed this sentiment through a series of posts on X yesterday, discussing why XRP remains an affordable purchase in a bullish market. As of now, XRP is trading at $0.5219, which is a 12% decrease from its value a month ago.
For the past nine months, XRP has fluctuated between the price levels of $0.4 and $0.7, with the $1 level last observed three years ago. Notably, it has consistently remained within the $0.5 range, the same range it traded at in mid-2018.
This underwhelming performance has raised concerns among many in the crypto community. However, prominent industry commentators continue to reassure investors that a bullish phase for XRP is on the horizon to alleviate their worries.
Wall Street Analyst Explains the Arrival of XRP Bulls
Linda Jones recently provided reasons for optimism among XRP enthusiasts regarding an upcoming rally. She primarily based her view on the speculative scenario of XRP potentially becoming a world reserve currency.
This speculation, which is gaining traction, originates from Ripple itself. In a blog post seven years ago, Ripple emphasized its unwavering commitment to the goal of making XRP the world’s reserve digital currency.
Jones highlighted 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, citing Ripple’s statement and the views of its executives. For instance, Ripple’s CTO David Schwartz, during a Twitter space last year, discussed the desire among nations for a decentralized reserve currency that no single country could dominate. He suggested that cryptocurrencies like XRP could fulfill this role.
Furthermore, Schwartz acknowledged that if the adoption of digital assets like XRP made certain individuals wealthy, that outcome would be acceptable.
HODL XRP: No Turning Back
Reflecting on these comments, the Wall Street analyst remarked that with XRP’s price currently low, this might be the last opportunity to see it at such levels.
Jones noted that the lengthy SEC lawsuit is nearing its conclusion. Additionally, she anticipates the enactment of stablecoin legislation this year, followed by broader crypto legislation in 2025.
“There will be no looking back for XRP,” Jones emphasized, urging readers to “HODL.”
Opposing View
While some community members support this view, others hold opposing perspectives. XRP enthusiast Rob Licker argues that the expressed narratives are outdated and filled with false hope.
He contends that the likelihood of XRP becoming a global reserve currency within our lifetimes is practically nonexistent. Licker believes that such views only deceive people into thinking they will become wealthy by merely holding a small amount of XRP and waiting for Ripple to trigger a significant change.
Instead, he highlights that the actual value of XRP will be influenced by the development and impact of projects such as Anodos Finance, HelvetX Labs, Baysed Labs, xSPECTAR, and Flare Networks, which are actively building on the XRP blockchain.
Disclaimer: This article is for informational purposes only 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 opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.