In the ever-evolving world of crypto assets, most digital assets are believed to have the characteristics of a speculative bubble, indicating uncertainty about the stability of their value. However, one market expert claimed that XRP value The cryptocurrency remains strong and free from the speculative bubble pressures that we often see with other cryptocurrencies.
Is XRP more stable than leading cryptocurrencies?
As XRP continues to make a significant presence in the cryptocurrency industry, crypto enthusiast SMQKE recently announced comment Highlights the key qualities that provide durability to the value of altcoins.
The expert claims that the token’s value is strong because it is not susceptible to the speculative bubbles that other digital assets such as Bitcoin (BTC) Ethereum (ETH) is at risk while sharing a document to support his claims.
The document stated:
As a result, it was found that macroeconomic and financial developments did not make a significant difference to the value of XRP and that changes in Bitcoin prices did not affect XRP. Fry (2018) practiced a rational bubble model for cryptocurrencies and discovered bubbles in Bitcoin and Ethereum, while no bubble was detected in XRP.
When prices in financial markets are driven primarily by investor euphoria, optimism, and expectations of future price increases rather than the underlying fundamental value of the asset, this is referred to as a speculative bubble.
SMQKE pointed out that since 2017, both Ethereum and Bitcoin have been in a state of stagnation. speculative bubble XRP, on the other hand, lacks a speculative value bubble due to its technological security.
This speculation from SMQKE simply means that the hype strategies that drive a large portion of the cryptocurrency market cannot be used to influence XRP price“XRP price appreciation 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 It is not as “decentralized” as many in the industry often believe, which adds to the robustness of the altcoin.
2017-Style Rise in Altcoins
After a brief market recovery, XRP is seeing multiple positive predictions about its near-term potential from several cryptocurrency analysts. Cryptocurrency expert, Pharaoh expected A bullish breakout similar to that of 2017 is likely. Alternative currency During the year.
According to Pharaoh, after eight months of Bitcoin halving After the July 2016 event, the coin started to rise in 2017 and continued to experience a massive rally that led to its all-time high. Now, after the halving in 2024, the expert confirmed that it is in a position to start the trend again, possibly starting by December.
However, Pharaoh expects the altcoin to rise significantly in value once trading begins. Ripple sues SEC “The end of 2024 is likely to be strong with plenty of fundamental and technical momentum into 2025,” Faro added.
Featured image by Adobe Stock, chart by Tradingview.com