Wall Street Analyst: XRP Could See “Big” Dip Before its Bull Market Begins

Wall Street Analyst: XRP Could See “Big” Dip Before its Bull Market Begins

Time Stamp: October 21, 2023 3:50 AM
Source Node: 2947166

The renowned Wall Street financial analyst Linda Jones has shared her views about the coming price action for XRP. 

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While the financial expert remains exceptionally bullish about XRP, she noted that the digital asset may not commence its greenish trajectory from its current point.

In particular, Jones argued there could be potentially significant declines from XRP’s current $0.5 before the anticipated XRP bull market. The financial analyst remarked:

“I would be a little cautious with the thought that the price of XRP is straight up from here. I think there could be a (potentially big) dip before that.”

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XRP To Handle Trillion Dollars from Institutions?

Notably, Jones expressed this sentiment following an interview where she shed her opinion on Coinbase’s launching of XRP futures contracts for institutional investors. She argued that XRP’s current price below $1 leaves substantial room for upward movement. 

She believes the availability of futures contracts for XRP signifies a bullish sentiment as big money traders can now take positions based on the expected price movements of the digital asset.

Furthermore, Jones highlighted ongoing community debate about the significant capital coming into the market with institutional access to futures. She stated some have projected the potential for the trillion dollars coming into the digital asset. 

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Also, Jones noted that pundits argue the potential for XRP’s value in the scenarios where it handles some or all of the projected trillions of dollars. Nonetheless, the financial expert remarked:

“It may not be that XRP is the only one handling all those funds. But the fact that there is a lot of liquidity coming into the system, and we’re at a point where that’s going to start happening in a major way, is what’s leading me to get this blinking light going on.”

XRP Potential for the Coming Decade

Furthermore, Jones cited that prominent figures like Ripple CEO Brad Garlinghouse and leading finance reporter Raoul Pal have made ambitious predictions about the valuation of the crypto market reaching ten or hundredfold by the end of the decade.

Jones believes the predictions are rooted in thorough research and understanding of the market dynamics. Therefore, she emphasized it would represent unprecedented growth in the financial world where crypto valuation hit trillion dollars by 2030. 

While she acknowledged that Bitcoin has been the best-performing asset class in history so far, Jones believes the potential trajectory for XRP could be similar.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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