XRP is loved by many crypto enthusiasts and still ranks seventh in terms of market capitalization. However, the well-known crypto expert Elite Crypto is no longer positive about XRP and recently announced on platform X that he is saying goodbye to the coin. He even stated that he “never wants to touch XRP again.”
According to the analyst, there are two main reasons for this bold statement.
Stagnation of the XRP price
The continued price stagnation of XRP is the main reason for dropping the cryptocurrency, according to Elite Crypto. He even described XRP as a “stablecoin” due to its limited price fluctuations over the past two years.
This stagnation is in stark contrast to the performance of other cryptocurrencies, which have recently increased significantly in value. For many investors, including Elite Crypto, this makes XRP less attractive as an investment. They prefer digital coins that show more growth potential.
Fuss about political donation
A second reason for Elite Crypto’s skepticism is a recent political donation from Ripple co-founder Chris Larsen. Larsen donated a whopping $10 million in XRP to US Vice President Kamala Harris’ campaign, sparking an uproar within the XRP community.
Many XRP investors do not feel represented by the Biden administration, which is taking a stricter stance towards crypto markets. Moreover, there are many investors who are supporters of former President Donald Trump.
Opinions from the market
On the other hand, there are also analysts who foresee a much more positive future for XRP. For example, analyst Ralston Maximus expects a “realistic” chance that the price could rise to $35, provided XRP breaks its downward trend. If this prediction comes true, it would mean an increase of more than 6,750% compared to the current price. In his most pessimistic scenario, he expects a price of $7, which would still be a significant upside of 1,272%.
Source: https://newsbit.nl/bekende-crypto-analist-over-xrp-ik-raak-het-nooit-meer-aan/
