In the ever-evolving world of cryptocurrency assets, most digital assets are believed to possess speculative bubble characteristics, demonstrating uncertainty about the stability of their value. However, one market expert has claimed that XRP Value remains robust and free from the speculative bubble pressures often seen with other cryptocurrencies.
Is XRP more stable than major cryptocurrencies?
As XRP continues to prove its significant presence in the cryptocurrency industry, crypto enthusiast SMQKE in a recent post… comment has shed light on the fundamental qualities that provide durability to the altcoin’s value.
The expert maintains that the value of the token is robust since it is not subject to the speculative bubbles that other digital assets have such as Bitcoin (BTC) and Ethereum (ETH) are susceptible to sharing a document to back up their claims.
The document said:
As a result, it was found that macroeconomic and financial developments did not form a significant difference in the value of XRP and changes experienced in Bitcoin prices did not influence XRP. Fry (2018) practiced a rational bubble model for cryptocurrencies and detected bubbles in Bitcoin and Ethereum, while no bubble was detected in XRP.
When prices in financial markets are driven predominantly by investor euphoria, optimism and the expectation of future price increases rather than the underlying fundamental value of the asset, this is known as a speculative bubble.
SMQKE noted that since 2017, Ethereum and Bitcoin have been in a speculative bubble triggered by massive price manipulation and deceptive centralized strategies. Meanwhile, XRP, on the other hand, lacks a speculative value bubble due to its technological security.
This SMQKE forecast simply means that the hype strategies that drive a large part of the cryptocurrency market cannot be used to influence The price of XRPbecause its value is based on its utility in real-world uses, especially in cross-border transactions and institutional finance. “XRP’s price increase will be driven by organic growth and network usage,” he added.
SMQKE then drew attention to his previous post where he highlighted that Bitcoin and Ethereum They are not as “decentralized” as many within the industry tend to believe, which further solidifies the altcoin’s durability.
A 2017-style bull run is coming for the altcoin
Following a brief market recovery, XRP is receiving multiple positive predictions about its near-term potential from various cryptocurrency analysts. One cryptocurrency expert, Pharaoh, has provided A possible 2017-style bullish breakout for the alternative currency within the year.
According to Pharaoh, 8 months after the Bitcoin Halving In July 2016, the token began to rise in 2017 and experienced a massive bull run that took it to its current all-time high. Now, after the 2024 Halving, the expert claimed that it is positioned to start the trend once again, possibly starting in December.
However, Pharaoh anticipates the altcoin to rally massively once the market continues. Ripple files suit against the US Securities and Exchange Commission (SEC) is essentially over and done with. “2024 is likely to end strongly, with plenty of fundamental and technical momentum heading into 2025,” Pharoah added.
Featured image from Adobe Stock, chart from Tradingview.com
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