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A cryptocurrency analyst has figured out why XRP is struggling to reach $100. Contrary to what most investors think, the analyst argues that: XRP price turbulence It is not due to Ripple’s ongoing activity. Legal battle with the U.S. Securities and Exchange Commission (SEC). Rather, he believes it was a result of the acquisition. Negative perception of XRP Among investors and the broader cryptocurrency community.
The Truth About XRP Price Stagnation
Earlier this month, popular cryptocurrency analyst Levi Rietveld took to X (formerly Twitter). discuss The fundamental reason is XRP price is stagnant And why do we keep falling short of that elusive goal of $100?
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Many people will probably have the following attributes: XRP Price Issues Rietveld offers a different perspective on the three-year-plus legal battle with the SEC. He says XRP’s difficulties and its wide range of Global adoption It is mainly driven by: Spread of misinformationThis is causing serious harm and damage to cryptocurrencies and the broader industry.
The analyst singled out well-known financial experts. Raoul PalAccusing him of spreading hatred against himself XRP Community And criticized his negative comments about XRP. Rietveld emphasized that Pal is a highly respected and influential figure in the cryptocurrency community, so his words can significantly influence or change investor perception.
The analyst also said Pal had repeatedly urged: XRP Investors Abandon cryptocurrencies and invest in what are considered superior alternatives, such as Ethereum (ETH). Solana (SUN).
Rietveld highlighted the current market trends and price dynamics of XRP, Ethereum, and Solana: XRP’s Strong FundamentalsThis highlights that cryptocurrencies have performed much better than many coins, including SOL. Over the past 7 days, Price of XRP While Solana rose by about 6%, it fell by 0.2% over the same period.
The analyst also refuted Pal’s claim that investing in XRP was tantamount to being part of a sect, arguing instead that it reflects genuine beliefs in the sect. Technological innovation Speaking about the pioneering cryptocurrency, Rietveld also highlighted a comment Pal made in one of his many YouTube videos, in which he described XRP as a relic of a past bull cycle.
In response to Pal’s claims, Rietveld stated that despite the legal issues stemming from the Ripple-SEC dispute: XRP has shown remarkable resilience.He noted that cryptocurrencies have also played a vital role in providing something that is desperately needed. Legal clarity The same goes for other cryptocurrencies after they were classified as non-security by the courts.
Could XRP Reach $100 as Market Sentiment Improves?
Rietveld praised the merits of XRP in his post. Technical skillsHe emphasized that the cryptocurrency is fundamentally superior to 99.9% of all cryptocurrencies on the market. He said that the price of XRP could potentially Reaching the coveted $100 mark If the negative sentiment surrounding cryptocurrencies disappears.
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To overcome this, Rietveld suggested that XRP supporters should constantly counter critics of the coin with concrete facts that demonstrate XRP’s market value. He also urged investors to stand up to bad actors who spread misinformation and speak ignorantly about XRP.
Featured image made with Dall.E, charts from Tradingview.com