Respected Wall Street figure Linda P. Jones has shared her optimistic outlook on select altcoins, suggesting that XRP, Algorand (ALGO), and Stellar (XLM) are currently trading at significant discounts. While acknowledging potential price fluctuations, Jones believes these tokens have the potential to appreciate substantially over the next two years.
With nearly 40,000 followers on the microblogging platform X (formerly known as Twitter), Linda P. Jones has revealed her bullish sentiment towards several altcoins. In her recent post, Jones noted that XRP, trading at $0.6, ALGO at $0.10, XLM at $0.10, and XDC at $0.06 are all currently undervalued. She highlighted that while prices might experience further declines in the short term, the risk at current levels is relatively lower, as she anticipates a considerable price surge within the upcoming two years.
Of particular interest, investment products centred around the native token of the XRP Ledger, XRP, have witnessed a remarkable 127% increase in assets under management this year. These products have also reported sixteen consecutive weeks of inflows, with a notable $500,000 investment last week.
Investor sentiment around XRP was buoyed by a significant legal ruling earlier this year. A decision from Judge Analisa Torres in the case brought by the U.S. Securities and Exchange Commission (SEC) against XRP established a distinction between sales to institutional investors and those on exchanges, indicating that the token itself might not be classified as a security. This ruling prompted cryptocurrency exchanges like Coinbase, Kraken, and Gemini to re-list XRP, enhancing its market liquidity. However, the SEC recently expressed its intent to file an “interlocutory appeal” against the ruling regarding Ripple’s programmatic XRP sales.
Furthermore, blockchain data reveals that the XRP Ledger has been consistently processing over 1.2 million transactions per day since the start of August. This transaction volume has outstripped that of Ethereum (ETH), the second most popular cryptocurrency network, which has recorded 1.09 million daily transactions.
Linda P. Jones’ insights provide a fresh perspective on the potential value propositions of certain altcoins. The discounted prices of XRP, ALGO, XLM, and XDC, along with favourable market dynamics and legal developments, might indeed position these tokens for a resurgence over the coming years. As with any financial speculation, inherent risks remain, but Jones’ observations offer a valuable perspective for investors navigating the evolving cryptocurrency landscape.