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Bitwise CIO Says Ethereum is The Best Contrarian Crypto Bet Right Now

Elendu Benedict
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Bitwise CIO Says Ethereum is The Best Contrarian Crypto Bet Right Now

The Ethereum price struggles this year have been evident in the crypto sector. Interestingly, these struggles have persisted despite the launch of the Ethereum spot ETFs.

For context, the January 11 launch of the Bitcoin spot ETFs spurred the largest cryptocurrency by market cap to a new all-time high of around $74,000 in March.

However, in Ethereum’s case, it faced capitulation due to selling pressure and other macroeconomic factors. Meanwhile, in a recent disclosure Bitwise CIO Matt Hougan, the asset has been and is still the best contrarian crypto bet this year.

Ethereum’s Apparent Price Struggles

In an interview with Altcoin Daily, Bitwise CIO Matt Hougan stated that Ethereum is currently the best contrarian bet in the crypto market. For context, an asset is said to be contrarian if it goes against the current market trend.

Hougan noted that Ethereum is the crypto asset that people “love to hate” and expects further sideways price disposition for the rest of the year. Notably, he based his assertions on the sentiments around the Ethereum network.

The Bitwise CIO cited people’s perception of Ethereum’s technology as outdated, especially compared to blockchains like Solana and Sui. Furthermore, fee compressions and increased redeployments to layer 2 chains on the network have not helped its course.

Ethereum Still a Leading Blockchain in Crypto: Hougan

While sharing the narratives behind Ethereum’s contrarian nature this year, he believes it remains one of the leading networks in the crypto industry. Hougan argued that Ethereum is the go-to blockchain for traditional financial institutions due to its scalability and intrinsic applications.

The Bitwise CIO noted that Ethereum is still the leading blockchain for stablecoins, decentralized finance, and tokenization. Notably, over 60% of DeFis are locked in on Ethereum, and the network hosts over 50% of stablecoins in circulation.

While stating that Ethereum has been passed over this year as it went through a “complex teenage adjustment in its architecture,” Hougan noted that next year would be an exciting year for the second-largest crypto asset.

Hougan Cites Reasons Behind Ethereum’s Latest Struggles

Notably, Hougan’s latest comment follows an earlier blog post reiterating the same concept. A month ago, the executive stated some reasons behind Ethereum’s underperformance compared to its fierce competitors, Bitcoin and Solana.

Hougan cited regulatory unclarity, as the SEC has yet to officially brand Ethereum as a non-security despite dropping investigations against it earlier in the year. The Bitwise CIO noted that if Democratic nominee Kamala Harris wins and continues in Joe Biden’s skeptical disposition, Ethereum could face further regulatory uncertainties.

Furthermore, Hougan cited Ethereum’s underperforming spot ETFs as a catalyst for its price weaknesses. The investment vehicles have not met expectations, as they have recorded a cumulative net outflow of $530 million since their July market debut.

Meanwhile, Ethereum was trading at $2,622 at the time of writing, up 9.64% in the past seven days.

New Form C Deadline Suggests SEC Appeal Against Ripple is Still Alive

Lele Jima
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New Form C Deadline Suggests SEC Appeal Against Ripple is Still Alive

FOX Business Journalist Eleanor Terrett reveals a new deadline for the U.S. SEC to file Form C regarding its appeal against Ripple. 

There has been speculation that the Second Circuit might dismiss the SEC’s appeal against Ripple. This speculation gained momentum after some experts pointed out that the securities agency missed the Form C filing deadline. 

SEC Form C Filing 

Notably, the SEC was required to file the Form C within 14 days after it notified the court of its appeal intentions. However, there has been a misunderstanding regarding the appropriate deadline for the Form C filing.

Since the SEC filed its appeal notice on October 2, several crypto experts, including Ripple CLO Stuart Alderoty, asserted that the Form C deadline is set for October 16. 

Despite these assertions, the SEC did not file the document yesterday, leading to speculations that the Second Circuit could dismiss the agency’s appeal. 

New Deadline 

Interestingly, FOX Business Journalist Eleanor Terrett shared a document showing that the Form C deadline has not expired. According to the document, despite the SEC filing its appeal notice on October 2, it was officially added to the Second Circuit’s docket on October 4. 

This indicates that the 14-day countdown for the SEC’s Form C filing officially commenced on October 5. Consequently, Terrett asserted that the agency must file the Form C on October 18 at 11:59 p.m. (ET). The delay in the docketing notice extended the deadline from October 16 to 18. 

Top Lawyer Confirms Deadline Extension 

Reacting, pro-XRP legal expert Fred Rispoli confirmed that the information relating to the Form C deadline extension is accurate. 

Attorney Rispoli stated that he was unaware of the SEC’s docketing notice until an XRP community figure, Horațiu, brought it to his attention. 

SEC Potential Appeal 

The Form C document would provide insights on what the SEC intends to appeal in the appellate court. Although the SEC has yet to file the Form C, there are speculations that the agency’s appeal revolves around the rulings it lost to Ripple, especially programmatic sales and other distributions of XRP. 

The SEC attempted to overturn these decisions in an interlocutory appeal. However, Judge Analisa Torres denied the request for an immediate appeal. Following the issuance of the final judgment and the SEC notifying the court about its intentions to appeal, the agency might resume its bid to overturn these rulings. 

Analyst Predicts 5,382% Gain for Shiba Inu, Unveils Three Price Targets Including $0.001

Elendu Benedict
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Analyst Predicts 5,382% Gain for Shiba Inu, Unveils Three Price Targets Including $0.001

Amidst the bullish momentum in the crypto market, analyst Crypto Sheriff has predicted that Shiba Inu will hit three price targets, including one requiring a 5,382% surge.

Bullish momentum has prevailed in the crypto market over the past week. For context, Bitcoin has spiked 10.75% in the last seven days, outperforming most assets in the crypto ranking submit.

With its dominance exceeding 58%, Bitcoin’s flourishing price has rebounded on altcoins, including Shiba Inu. For instance, SHIB has surged 7.19% in the past week, trading at $0.00001824.

Meanwhile, notable market analyst Crypto Sheriff has asserted that the bullish momentum in the crypto market will propel Shiba Inu to three price targets. His Wednesday tweet came after an earlier analysis of a price breakout in the SHIB 4-hour timeframe.

Crypto Sheriff Predicts Three Targets Amid Price Breakout

On Oct. 15, the market speculator drew the attention of his audience to an uptrend in SHIB after a notable breakout. For context, Crypto Sheriff earlier stated that a bullish wave was coming for Shiba Inu after it broke out from a descending triangle formed since the Sept. 27 high of $0.00002169.

Speculatively, Crypto Sheriff has now stated the price targets he expects Shiba Inu to clinch following the breakout. In a subsequent Oct. 16 X post, the analyst asserted that the 13th-largest cryptocurrency would surge to $0.00002 and new all-time highs at $0.0002 and $0.001.

Notably, his first target was a retest of the triangle top at $0.00002. Typically, the first course after a breakout is to test the structure’s peak, and Crypto Sheriff expects SHIB to surge 8.8% to the price target.

Furthermore, the market commentator expects SHIB to target $0.0002 next. This second surge would entail a 900% uptick from his first price target and 996% from the current market price.

Crypto Sheriff’s third price prediction is a 400% upsurge from his second target and a staggering 5,382% from the current price. The market analyst speculated that SHIB would hit $0.001.

Notably, Crypto Sheriff’s $0.001 SHIB prediction is not alone, as several other analysts have predicted a similar price upsurge to the price mark. For instance, LuckSide projected that Shiba Inu was locking in for a bullish push to $0.001.

Also, analyst Krao gave the same $0.001 price prediction for SHIB, citing a breakout from a multi-year descending trendline. Notably, he asserted Shiba Inu will hit the price mark in January Q1 2025. 

Another report cited multiple analysts making the price call while noting the factors that could make the speculation feasible. The report indicated that a reduction in SHIB’s circulating supply and incessant inflow, probably from a spot ETF, would catalyze the 5,382% SHIB growth.

Shiba Inu Facing Major Resistance

Amidst the ambitious speculations, immediate resistance has hindered Shiba Inu’s next bullish pull. In an analysis, Shib Knight noted that the sell zone at $0.0000187 region holds Shiba Inu’s further price upsurge.

In the Wednesday tweet, the analyst insisted that a sustainable break above the resistance will catalyze an underlying SHIB bullish uptrend. He had earlier noted that Shiba Inu is primed for a price acceleration pending the resistance.

Notably, another analyst confirmed the resistance level, identifying other regions where SHIB could face impediments en route to $0.00002. In a report, Klejdi Cuni stated that the dog-themed meme coin would face further resistance at $0.00001865, $0.00001969, and $0.00002094.

Scaramucci Calls Trump-Inspired Ongoing Token Sale a ‘Transparent Money Scam’

Albert Brown
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Scaramucci Calls Trump-Inspired Ongoing Token Sale a ‘Transparent Money Scam’

Anthony Scaramucci, SkyBridge Capital’s managing partner, has criticized the recently launched DeFi token World Liberty Financial (WLFI).

Speaking at the Stellar Meridian conference in London, Scaramucci described the venture as “nonsense” and a clear “money scam.” According to Scaramucci, the project, alongside Trump’s Truth Social platform, is being used as a revenue source for the former president. He warned investors against participating in the project, accusing it of being a “transparent scam” meant to funnel funds into other uses.

Scaramucci also raised doubts about whether this project would help Trump gain traction among crypto-focused voters. He argued that no serious Bitcoin maximalist would look at World Liberty Financial as a positive feature in Donald Trump’s campaign. His comments reflect growing concerns from various industry leaders about Trump’s approach to digital assets and blockchain technology.

However, according to Trump, the World Liberty Financial token sale presents a significant opportunity to “shape the future of finance.” He had a goal of raising $300 million by selling 20% of the token supply. The token has a fully diluted valuation of $1.5 billion.

Crypto Community Reaction to Presale 

Prominent figures in cryptocurrency have also voiced their concerns about the latest crypto venture, which involves the presale of WLFI token sales. Among them was billionaire investor and entrepreneur Mark Cuban.

While Cuban refrained from a detailed critique, he expressed his disbelief. He wondered why the GOP candidate would pursue this move when he has prominent backers like Elon Musk supporting him financially. 

According to Dogecoin founder Billy Markus, engaging in a token sale is the most unreasonable thing to do as someone seeking a U.S. presidency.

Likewise, Alex Miller, CEO of the Web3 platform Hiro, called the WLFI token sale an “obvious pump scheme.” Miller emphasized that the project risked setting back the credibility of the crypto community by years. 

His concerns centered on the possibility that WLFI could harm the reputation of digital currencies. According to Miller, even if the project doesn’t result in an outright scam, it still reflects poorly on the industry as a whole.

Data from Lookonchain confirms that the WLFI token has already sold over 833 million tokens, generating $12.5 million in sales. With more than 10,000 users participating, the largest buyer, identified only as “0x2d24,” spent 351.3 Ethereum, equivalent to $903,000, to purchase 60.43 million WLFI tokens.

XRPL Labs Founder Votes to Reduce XRP Account Reserve Fee by 90% from 10 XRP to 1 XRP

Sam Wisdom Raphael
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XRPL Labs Founder Votes to Reduce XRP Account Reserve Fee by 90% from 10 XRP to 1 XRP

Wietse Wind, founder of Xaman development team XRPL Labs, has called for a reduction in the XRP Ledger’s (XRPL) account reserve fee.

Taking to X, Wind recently explained why he supports reducing the account reserve from 10 XRP (about $5.50) to 1 XRP ($0.55), a 90% drop. His argument centers on making the XRPL more accessible, especially to users and projects in regions with lower purchasing power.

Currently, the XRPL requires users to hold a reserve of 10 XRP in their accounts, which they cannot access while the account remains active. This reserve fee aims to prevent excessive account creation, protecting the ledger from becoming overcrowded with unused or spam accounts. 

However, Wind believes this deterrent also impedes growth, especially for new users. Others have also raised similar concerns. XRPL protocol SpendTheBits called the community’s attention to the issue last November, promoting a response from Ripple CTO David Schwartz.

Two months back, early Bitcoin investor Davinci Jeremie also spotlighted how the reserve fee poses a barrier to adoption. Through his latest commentary, Wind suggested that reducing the reserve to 1 XRP would open the door to greater network participation.

Wind’s Proposed XRPL Changes

Besides reducing the reserve fee, Wind also mentioned other proposed changes for the XRPL in his earlier post. He revealed that XRPL Labs has configured its validator to support a reduction in the account reserve and also an increase in transaction fees. 

Notably, the transaction fee would rise from 10 drops (a small fraction of XRP) to 200 drops. This increase, while still maintaining affordability, would make transactions slightly more expensive to help prevent spammy transactions.

Wind also proposed lowering the object reserve on the XRP Ledger from 2 XRP ($1.1) to 0.2 XRP (about $0.11). The object reserve refers to the amount held for other items like trust lines and escrows within XRPL accounts.

Encouraging Wider XRPL Adoption

Notably, in his latest disclosure, Wind argued that lowering the account reserve will benefit individual users and projects operating on the XRPL. To him, a 1 XRP reserve is an amount that businesses can more easily sponsor, as opposed to 5 or 2 XRP.

For instance, companies like Xaman Wallet (formerly Xumm) could cover this cost as part of onboarding new users. This would make it simpler for businesses to bring users into the XRP ecosystem, reducing the friction that comes with requiring users to fund the 10 XRP reserve themselves.

He argued that the reduction would make it easier for people to open accounts and also encourage projects to adopt more sustainable monetization strategies.

Potential Challenges

Despite the potential benefits, Wind admitted that lowering the account reserve could lead to a spike in activity on the XRPL, which may present challenges. However, Wind views this as a good problem to have.

He argues that dealing with increased usage and its infrastructure challenges would be a positive development. Wind believes the XRP community is prepared to handle such challenges, whether that requires improving hardware, optimizing configurations, or scaling horizontally.

Expert Says Ethereum Likely to Weaken in Q4 But Recover in 2025 as ETH/BTC Nears Bottom

Albert Brown
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Expert Says Ethereum Likely to Weaken in Q4 But Recover in 2025 as ETH/BTC Nears Bottom

Analyst predicts ETH/BTC will bottom in Q4 2024, with Ethereum facing short-term weakness before potential recovery in 2025.

Ethereum’s price is at a pivotal point, testing the $2,700 resistance zone after a surge of over 10% in the past week. This important juncture has attracted attention from analysts who foresee potential price fluctuations.

Despite the recent price rally, a market watcher anticipates Ethereum will face further declines before the end of 2024. Benjamin Cowen, CEO of Into The Cryptoverse, has drawn attention to the ETH/BTC pair’s long-term movement.

ETH/BTC Breakdown and Historical Parallels

Cowen has been vocal about Ethereum’s relationship to Bitcoin, with the ETH/BTC pair having dropped massively from last year’s levels. He noted that while many were once bullish on Ethereum flipping Bitcoin’s dominance, current trends show Ethereum weakening in comparison. 

According to Cowen, the ETH/BTC ratio, which now hovers between 0.03 and 0.04, is likely to bottom out this quarter. This range has historically been a critical support zone, with Cowen suggesting that even in the worst-case scenario, the ratio might only dip as low as 0.03.

However, he points out that the time to capitalize on this trade was two years ago, cautioning against current panic selling.

Cowen also referenced similar breakdowns in Ethereum’s price history, specifically in Q4 2016 and Q4 2019, when ETH/BTC experienced significant declines. During these periods, Ethereum saw temporary weakness, but eventually regained strength.

Per Cowen, ETH/USD is expected to remain weak until the end of 2024, similar to previous breakdowns in 2016 and 2019 when ETH/BTC also declined. However, the analyst predicts a potential recovery and renewed strength for Ethereum in 2025.

Potential Bullish Reversal 

While he expects continued weakness similar to previous market cycles, others, like Peter Brandt, see potential for a bullish reversal. The veteran market analyst recently identified a potentially bullish development for Ethereum.

According to Brandt, an Inverse Head and Shoulders (H&S) bottom pattern has started forming on Ethereum’s price chart, which could signal a reversal in its current downward trend. 

The left shoulder formed in late July, when Ethereum’s price fell to $2,330, followed by a drop in September to a lower low of $2,253, marking the head. The right shoulder began to form in early October, as the price dipped but held above $2,330, indicating weakening bearish momentum.

However, this pattern is incomplete without a breakout above the neckline, which currently acts as resistance. If Ethereum can break through this level, it could signal a significant upward price movement. 

Expert Predicts $100B Market Cap For Shiba Inu With High Stake Bet, Here’s New SHIB Price Projection if This Happens

Lele Jima
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Expert Predicts $100B Market Cap For Shiba Inu With High Stake Bet, Here’s New SHIB Price Projection if This Happens

Prominent cryptocurrency expert Jake Gagain makes a bold bet regarding the future market capitalization of canine-themed token Shiba Inu (SHIB). 

In an X post today, Gagain projected that Shiba Inu will reach a market cap of $100 billion. The expert promised to delete his X account if Shiba Inu fails to hit the target. 

This shows that Gagain is confident in Shiba Inu’s prospects to the extent that he is willing to risk his X account if the prediction does not materialize. 

Potential Reasons Fueling Gagain’s Forecast 

His confidence could stem from the positive developments happening within the Shiba Inu ecosystem. 

They include increased SHIB burns, widespread adoption, and the token’s transition from a memecoin to a utility token. 

As reported earlier, Shiba Inu recently bolstered its utility following the project’s partnership with Mass Finance Inc. The collaboration is expected to “elevate SHIB to the next level” as Mass Finance becomes the financial layer of the Shiba State. 

A Risky Bet 

For context, Gagain is a prominent figure on Crypto Twitter and has amassed over 317,200 followers since joining the microblogging platform in November 2021. 

Despite this, Gagain said he would delete his X account if SHIB does not reach a $100 billion market cap, emphasizing his confidence in the asset. He did not set a timeframe for Shiba Inu to reach the $100 billion valuation. 

However, this is not the first time that Gagain has made this type of forecast for Shiba Inu. In July, he speculated that Shiba Inu would hit a valuation of $100 billion in the 2024/2025 market cycle. During his previous forecast, Gagain did not promise to delete his X account as he did recently. 

Significance of Shiba Inu Surge to $100B Market Cap 

A move to a $100 billion market cap would lead to a significant surge in SHIB’s price. At press time, Shiba Inu is trading at $0.00001824, with a market cap of $10,744,316,502 ($10.74 billion).

Hitting the $100 billion market cap requires Shiba Inu’s valuation to surge by 830.72% from the current value. 

Applying this 830.72% growth rate to Shiba Inu’s price would see a unit of SHIB worth $0.00016976, assuming the token’s circulating supply remains fairly stable at 589.27 trillion. 

This would represent a new all-time high (ATH) for the dog-themed token. At this price, a portfolio of 5.89 billion SHIB, currently worth $107,445, will be valued at $1 million. 

Prediction of Shiba Inu Surge to $0.00016 or $100B Market Cap 

Meanwhile, several analysts are optimistic that Shiba Inu could hit a price target of $0.00016 or a $100 billion market cap in its lifetime. For instance, Gagain has repeatedly forecasted Shiba Inu’s potential surge to a $100 billion market cap. In March, he asserted that Shiba Inu would be the first memecoin to hit the $100 billion valuation. 

Three months later, famous crypto analyst Zach Humphries forecasted that SHIB could hit the $100 billion valuation this market cycle. The following month, TradingView analyst Abmoon identified six potential targets for Shiba Inu, with the ultimate goal set at $0.000165. 

Although Abmoon initially set the targets in November 2023, the chartist called attention to the forecast in July after air purifying company Kronos added support for Shiba Inu payment. 

Charts Show XRP Could Spike 10x to 500x During Alt Season When BTC Dominance Drops

Sam Wisdom Raphael
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Charts Show XRP Could Spike 10x to 500x During Alt Season When BTC Dominance Drops

Market data suggests XRP could see a massive price surge, possibly rising by 10x to 500x during the upcoming altcoin season. 

The data stems from two charts shared by Kevin Cage, a notable market analyst and advisor to Iron Key Capital. These observations come from historical patterns that relate Bitcoin’s dominance in the market with XRP’s performance during previous bull runs.

XRP Alignment with Bitcoin Dominance

Notably, XRP has consistently shown strong gains during altcoin seasons, which occur when Bitcoin’s dominance declines, allowing altcoins to surge. Two of the most prominent instances occurred during the bull runs in 2017 and 2021. 

Bitcoin’s dominance in the cryptocurrency market can be important in determining the performance of altcoins like XRP when Bitcoin’s share of the market shrinks, altcoins rally, with XRP often being one of the biggest beneficiaries. 

Cage’s chart confirms that during the 2017 alt season, XRP surged by more than 500x, rising from $0.006 to a peak of $3.50 by January 2018. This spike coincided with a sharp drop in Bitcoin’s market cap dominance, which fell from 95.91% to about 35.46% during the same period.

Kevin Cage on X
Kevin Cage on X

Meanwhile, in 2021, XRP had another significant run even as it faced major legal challenges from the SEC and delisting from several exchanges. Recall that the U.S. SEC charged Ripple and its executives in December 2020, alleging that XRP was an unregistered security.

Despite these setbacks, XRP still managed to increase by 10x, climbing from $0.18 to $1.96. Similar to 2017, this price rise occurred during a steep decline in Bitcoin’s market dominance, which fell from 73.51% to 39.54% over several months.

Will History Repeat?

Now, the charts indicate the market might be on the verge of another alt season despite a recent surge in Bitcoin dominance. Notably, BTC dominance is currently around 58.95%, and if it begins to fall again, similar to previous cycles, XRP could experience a massive rise. 

If XRP follows its 2017 pattern of a 500x increase, its price could skyrocket from its current level of around $0.55 to as high as $275. Alternatively, if XRP repeats its more modest 2021 performance of a 10x increase, its price would still reach around $5.47.

The charts suggest that the conditions for another alt season are forming, and history indicates that XRP tends to perform well during these periods. However, should the pattern repeat, the exact magnitude of the rise is uncertain.

With the SEC recently filing a notice of appeal in the Ripple case, potentially elongating the lawsuit, XRP could still have to deal with the persistent legal pressure. If the pressure leads to another suppression, a moderate 10x rise could occur, but this would still lead to a new all-time high above $5. 

SEC Appeal Against Ripple Could Be Dismissed As Agency Misses an Important Deadline

Lele Jima
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0
SEC Appeal Against Ripple Could Be Dismissed As Agency Misses an Important Deadline

The U.S. SEC appeal against the Ripple ruling could be dismissed as the regulator is yet to file its Form C detailing the aspect of the case it intends to appeal. 

Since the SEC filed its appeal notice, the broader XRP community has been looking out for the plaintiff’s Form C filing, which is expected to shed light on the upcoming appeal. This filing is due 14 days after the SEC submitted its appeal notice to the Second Circuit on October 2. 

Debate About the Form C Deadline 

There is an ongoing debate regarding whether the Form C deadline is set for October 16 or 17. Multiple sources, including Ripple’s CLO Stuart Alderoty, asserted that the deadline for filing Form C is October 16. The Ripple CLO made this known during a recent conversation with FOX Business journalist Eleanor Terrett. 

Interestingly, popular XRP community figure Sherrie shared a calendar indicating that the Form C deadline is October 16. 

With only a few minutes left before October 16 ends, the SEC has yet to file the Form C in the public docket. 

SEC Case Could be Dismissed 

While it remains unclear whether the SEC will beat the deadline and file Form C before the end of today, it is worth mentioning that failure to file this form before the due date has significant implications. 

This could result in the dismissal of the SEC’s appeal, nullifying the regulator’s chance of prolonging the Ripple case beyond 2025. 

The Form C clearly states that failure to file the document within 14 days of submitting the appeal notice will result in a straightforward dismissal of the appeal. 

Form C warning
Form C warning

Appellate Court Could Be Lenient Toward SEC 

Meanwhile, top legal expert Fred Rispoli cautioned XRP community members not to get too excited about the SEC’s failure to meet the Form C filing deadline. 

Attorney Rispoli noted that while missing the deadline could lead to the dismissal of the SEC’s appeal, he indicated that appellate courts are usually lenient with federal agencies. 

“Even a lame excuse from the government is likely enough to allow the Court to let it slide,” Attorney Rispoli remarked. 

Gary Cardone Says XRP Launch Pad is Green, Set for Astronomic Price Surge

Abdulkarim Abdulwahab
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Gary Cardone Says XRP Launch Pad is Green, Set for Astronomic Price Surge

Renowned financial pundit Gary Cardone has stirred excitement with a cryptic tweet suggesting that XRP is on the brink of a major development.

His message was styled in a military theme, metaphorically describing an impending development concerning XRP. “XRP – LAUNCH PAD IS: Green… Proceed with launch codes,” Cardone wrote, hinting that XRP could soon make a significant price leap.

This disclosure comes at a time when XRP’s price trajectory has been largely subdued and unimpressive. On the daily timeframe, XRP posts a 0.17% decline, with a modest 2.3% gain over the past week.

At the $0.5438 price, investors who bought XRP a month ago are nursing a loss of 4.5%, while those who invested a year ago are seeing only a 9.9% profit.

Amid these discouraging figures, Cardone has sparked optimism in the community, suggesting that XRP is about to “launch,” as he emphasized that the “launch pad is green.”

While he did not provide specific details, the implication is that XRP may be approaching a critical moment that could lead to a price surge.

XRP Community Reacts

Cardone’s post has attracted attention, triggering excitement within the XRP community as well as mixed reactions from skeptics. Notably, Cardone has rarely commented on XRP, with only three mentions since the beginning of the year, the last one being six months ago.

Commenting on Cardone’s latest bullish post, Zach Rector, a figure in the XRP community, remarked, “Gary is coming onboard the XRP train.”

Similarly, X user John Eiid echoed Cardone’s sentiment, stating that many are too blinded by comfort to see what’s ahead for XRP. According to him, XRP “is about to take off,” and only the fearless will ride the wave to success.

Skeptics Weigh in

Meanwhile, not all commenters share the optimism about XRP. Bitcoin proponent David Branscum remarked that Cardone’s bullish perspective suggests he is trading his dollar “for something even more worthless,” referring to XRP. He expressed doubt about the rationality of such an action.

Other commenters shared humorous memes suggesting XRP would remain in the same $0.50 range for years, seeing little potential in the coin despite the popular hype surrounding its prospects.

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