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XRP Is Not Dead, It’s Just Loading: Analyst

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简要说明

  • Ripple’s native token became one of the biggest gainers after the US elections, but lost some steam in Q1, even though the company’s lawsuit against the SEC is seemingly over.
  • Although no one has actually declared it dead (at least not in the well-known public space), a social media influencer with over 500,000 followers on X explained why it could be just loading.

Not Dead, Just Loading

John Squire started with a 10-year setup that investors might have ignored until now. Ever since the project’s establishment around a decade ago, the company behind it has made big moves to enhance adoption. Squire said RippleNet is used in over 55 countries, while some of its notable partners include SBI, Tranglo, and Santander.

As such, he noted that XRP isn’t some “new hype coin. It’s been quietly building since before most influencers discovered Bitcoin.”

He touched upon the prolonged battle between Ripple and the US securities regulator, which dragged on for over four years. Although the SEC has yet to confirm that the case is closed, Ripple’s CEO triumphantly announced it in mid-March. Squire said, “XRP is the only top 10 coin to fight the US government and survive.”

In terms of institutional adoption and the possibility of a spot Ripple ETF in the States, the social media influencer outlined the XRP futures product prepared to be launched by CME this month, as well as the 10 applications sitting on the SEC’s desk. Although the Commission delayed making a decision on one of them earlier this week, many experts believe it’s just a matter of time before XRP follows the example set by ETH and BTC last year.

XRP Price Chart Says Bull Run

Echoing another report that XRP might skyrocket in the following month(s), Squire said the asset’s chart paints a clear bullish picture. Aside from a few brief fluctuations below $2, the fourth-largest cryptocurrency has mostly remained steady above that line ever since it broke it in late 2024.

Squire added that the RSI is cooling off and the volume is “quietly building. Smart money doesn’t chase pumps. It buys when you are bored,” he added. There’s certainly some proof for that, as whales accumulated nearly $2 billion worth of XRP in April alone. Additionally, whale addresses have skyrocketed to a record of their own above 300,000.

After the mandatory disclaimer that his post is not financial advice, Squire concluded that the most hated assets, such as XRP, often outperform.

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