A well-known crypto trader, who goes by the nickname "DonAlt," shared his views on the popular cryptocurrency XRP and its price performance. The trader's attention to XRP is likely due to the fact that the price of XRP has risen 14% since the beginning of this week and 47% since the beginning of last week, reaching its highest level since July 2023. While many see this as a promising sign for XRP, DonAlt's analysis suggests that the outlook may be more complex than it appears.
My gut feeling on XRP is that it prolly full sends
IDK though— DonAlt (@CryptoDonAlt) November 13, 2024
From a trader's point of view, XRP and similar old-timers of the crypto market may have a hard time maintaining the interest that is constantly changing. Instead of going back to the coins they know, he thinks many investors who have left the crypto market in the past may choose newer, trendier options over established ones like XRP.
That said, he has not ruled out a potential spike in XRP's price. In fact, DonAlt reveals that he has a "gut feeling" that XRP could see a strong upward move but doubts that it can sustain the interest of the newer generation of retail investors.
New all-time high for crypto crimes
Aside from the fact that XRP is likely to skyrocket in the near future, the trader predicted that crypto-related crime could reach record levels in the next four years and warned that such issues could harm the long-term growth of the industry. The key suggestion is that security challenges, combined with regulatory pressure, could slow adoption and affect the market's development and stability.
Despite his caution, DonAlt's outlook is not all negative. His general advice for those navigating the crypto market is to stay balanced and avoid extremes, whether that means becoming too ambitious or too relaxed.
