Crypto analyst Cobb has sparked a discussion by suggesting the current bull market specifically benefits XRP, igniting conversations among investors.
Context and Market Trends
According to the Times Tabloid article, Cobb mentioned on X that current skepticism about a $100 XRP valuation mirrors past doubts when it was below $1. His post drew attention to the notion that XRP might be following a similar trajectory to past growth phases.
Historical Perspective on XRP
XRP was created in 2012 to facilitate fast and efficient cross-border transactions. From 2013 to 2016, its price remained below $0.01. In 2017, it surged to $3.84 due to rising interest in cryptocurrencies and institutional adoption of Ripple's solutions. However, the price dropped post-2018. In 2020, the SEC lawsuit against Ripple impacted it negatively. In 2021, XRP temporarily breached $1 and started recovering post-2024, following SEC Chair Gary Gensler's resignation.
XRP Outlook and Market Sentiment
Cobb suggests that XRP is well-positioned in the current market cycle. Supporters claim it shows resilience and could be gearing up for more gains. Discussions continue regarding XRP's potential three-digit valuation, maintaining investor interest.
Investors continue to debate the specific effects of the current market on XRP, acknowledging its potential advantage and resilience among digital assets.
