Here’s Why This Wall Street Expert Believes XRP Is Very Bullish
21 October 2023 - 5:00AM
NEWSBTC
XRP achieves yet another milestone with its recent approval of
derivative contracts particularly designed for institutional
investors on the San Francisco-based cryptocurrency exchange
Coinbase. XRP Milestone Could Spark A Bullish Run Due to XRP’s
recent milestone, Wall Street expert Linda Jones believes that the
token is very bullish following the increase in interest from
institutional investors toward the XRP market. Linda Jones took to
her official X (formerly Twitter) handle to express her viewpoint
on XRP’s future. She noted that XRP will probably experience a
bullish trend since the approval of derivative contracts enables
institutional investors to trade the token with significant
capital. Related Reading: Bitcoin Maximalist Calls Ethereum
‘Garbage’, Here’s Why Linda further highlighted that institutional
investors’ adoption is more likely to trigger a bullish trend for
XRP than with just retail investors. According to the expert, Wall
Street firms, notably hedge funds, are drawn to derivative trading
because it gives them the chance to take advantage of price changes
in digital assets to maximize profits. Coinbase approving perpetual
futures contracts for trading XRP means: 1) XRP is very bullish. If
XRP’s price was not going to fluctuate or change a lot, no one
would be interested in trading it. Futures contracts allow for
maximum leverage and can lead to outsized profits (or… — Linda P.
Jones (@LindaPJones) October 18, 2023 In the post, Linda
anticipates that leading investment firms could be investigating
jurisdictions that are familiar with hedge funds and offshore
funds, such as the Cayman Islands or Bermuda. The introduction of
institutional investors to the XRP market covers a larger
connection for the digital asset’s market stability and adoption.
This marks a major step for the digital asset. It indicates a
growing interest and adoption of XRP in the midst of institutional
investors and an increase in investment in XRP might trigger the
digital asset’s overall market dynamics since institutional
investors are attracted to volatile assets like XRP. The increased
interest from institutional investors in the token may also trigger
an increase in demand for the token from several types of investors
including retail investors and businesses. Linda Jones On The
Ripple IPO Linda Jones has previously commented on XRP and the
potential value if Ripple were to undergo an initial public
offering (IPO) and become a publicly traded company. Jones compared
Ripple going public to the valuation at which Coinbase went public
and presented a possible $107 billion valuation for the company.
With such a valuation, the crypto firm’s stock price would be $600.
The Wall Street veteran also believes that Ripple should be
considered a high-value company such as Nvidia or Apple because it
has what it takes. Related Reading: FTX Billion-Dollar Fraud:
Expert Figures Out Where The Missing $9 Billion Went If Ripple were
to be as highly valued as Jones posited, then there would be an
obvious impact on the XRP price. Wells Fargo manager Shannon Thorp
believes that as Ripple continues to capture the cross-border
payments sector, its price could rise as high as $500. Bulls hold
support at $0.51 | Source: XRPUSD on Tradingview.com Featured image
from CoinMarketCap, chart from Tradingview.com
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