“DonAlt,” a well-known cryptocurrency trader, offered his opinions on the price performance of the well-known cryptocurrency XRP. The price of XRP has increased 14% since the start of this week and 47% since the start of last week, hitting its highest level since July 2023, which is perhaps why traders are paying attention to it. Many people believe that this is a positive indication for XRP, but according to DonAlt’s research, things can be more complicated than they seem.
https://x.com/CryptoDonAlt/status/1856678657722376202
From the perspective of a trader, XRP and other cryptocurrency market veterans can find it difficult to sustain the ever-evolving interest. He believes that many investors who have previously withdrawn from the cryptocurrency market would choose for more recent, trendy alternatives over more established ones like XRP, rather than returning to their familiar currencies.
He hasn’t discounted a possible price increase for XRP, though. DonAlt actually admits that he has a “gut feeling” that XRP would have a significant upswing but is sceptical that it will be able to hold the attention of the younger generation of retail investors.
New all-time high for crypto crimes
In addition to predicting that XRP will likely soar in the immediate future, the trader cautioned that the industry’s long-term growth may be harmed by the potential for record amounts of criminality associated to cryptocurrency over the next four years. The main argument is that adoption may be slowed and the growth and stability of the industry may be impacted by security issues and regulatory pressure.
DonAlt’s perspective is not entirely pessimistic despite his warning. In general, he advises those navigating the cryptocurrency market to maintain equilibrium and steer clear of extremes, whether that means being overly aggressive or overly laid back.
