Prominent Wall Street financial analyst Linda Jones has taken to X to express her view about the factor she believes would drive the value of XRP in the coming years.
In the tweet, Jones argued that large corporations and institutional investors would be the elements propelling the price of XRP. The financial analyst based her theory on the legal status of XRP.
Institutions To Lead XRP Market
Jones noted that XRP had been confirmed a digital asset by a federal court in the United States. In light of that, institutions do not need any more conviction before investing massively in XRP. In her words:
“It’s institutional money that will drive XRP’s price higher, IMO. Institutions need legal clarity and framework. The lawsuit was one important piece of that.”
It’s institutional money that will drive XRP’s price higher, imo. Institutions need legal clarity and framework. The lawsuit was one important piece of that. More Congressional lawmaking is needed, but it will happen. After that, the money will flow in a huge wave. They ⬇️ are… https://t.co/wPgEIGqby9
— Linda P. Jones (@LindaPJones) August 16, 2023
Notably, the beliefs of Jones align with those of Shannon Thorp, a top treasury management professional. As The Crypto Basic reported, Thorp argued that institutional investors would price out retail investors in the XRP market.
According to the banker, XRP would not remain low-priced in the presence of institutional investors. Thorp stated that retail investors make up only 1% of the XRP market, while the other half belongs to whales.
Congress Still Needs to Come in
Meanwhile, the Wall Street expert mentioned that US lawmakers must still enact laws specific to cryptocurrencies. She believes crypto-focused regulations are invertible. Accordion to her, the aftermath of the laws would be money flowing en masse into XRP.
“More Congressional lawmaking is needed, but it will happen. After that, the money will flow in a huge wave,” Jones remarked.
Jones shared this sentiment after advising investors to buy XRP now that the digital asset trades below a dollar. The financial analyst expressed that XRP would be much more expensive within the next two years. Therefore, it is a low-risk investment to buy XRP at $0.60.