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Clear regulations together with the existing advantages of using XRP to send money from one point to another make the project be in a better position to take the crypto industry through the next mile.
Through a series of tweets, popular crypto analyst CryptoWhale stated that Ripple and XRPL’s native coin XRP is set to experience a sharp uptick of demand in the global market. Primarily because it is the only crypto project that is pushing for clear crypto regulations.
The only project in the entire market that is pushing for Crypto Regulations is $XRP.
They know that once these regulations are added, it will completely annihilate almost every other altcoin, and make XRP’s demand skyrocket.
— CryptoWhale (@CryptoWhale) September 8, 2020
CryptoWhale Theory on XRP Future Prospects
According to his theory, Ripple has quietly been working with government agencies to ensure compliance. Insinuating that the project is gaining favor with the regulators due to its inclination of clear regulations to work with the system.
“Many criticize XRP for being “too centralized”, although this transparency is what governments like,” CryptoWhale explained.
He continued to highlight that Ripple has managed to stick among the top projects since its inception, hence giving investors confidence and assurance of scam-free investment.
Crypto scams have skyrocketed in the recent past with projects coming up and then being liquidated with all customers’ cash. One of the recent scams is the Defi project Yfdex.Finance that vanished with $20M investors’ funds just two days after launching.
Due to the lack of clear regulations to keep the developers from participating in the next exit scams, CryptoWhale thinks XRP will gain investors’ attention as the best project in the market.
In addition, clear regulations together with the existing advantages of using XRP to send money from one point to another including the fast, cheap and reliable transfer of money, make the project be at a better vantage point to take the crypto industry through the next mile.
Stating that he has been involved with XRP since 2013, he thinks after the ‘current correction’ is over, Bitcoin and altcoins will continue with a new stronger bull rally.
In response to a query – “I’m not sure if XRP is only one. What about $QNT? $XDC? They also look like ISO20022 ready” – by one of his followers. CryptoWhale said that they are just two ERC-20 ICO Tokens created during the 2018 hype phase and they offer nothing other than a cool website, and false promises.
In his defense, he said that he avoids all similar projects that were created then as they are similar to the internet bubble that did not take long before exploding.
At the time of writing, XRP was trading around $0.24 with a market cap of around $10.86 billion, and daily volume of approximately $1.69 billion according to CoinGecko metrics.
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