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XRP is making a buzz in the market again as the Crypto analyst JackTheRippler has claimed that US President Joe Biden has decided not to support Bitcoin custody by any institutions. Nonetheless, the XRP community is supporting crypto and is ready for the next bull run, but what exactly are they hopeful for?
XRP to Explode Amid Announcements from Joe Biden
JackTheRippler revealed in an X(formerly Twitter) post that XRP could become the only regulated currency based on the US judicial system. This is a bold statement considering the ongoing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC).
However, the potential for XRP to emerge as a regulated entity is intriguing and could position it favorably in a market where regulatory clarity is often lacking.
🚨 JUST RELEASED US PRESIDENT JOE BIDEN WILL NOT SUPPORT BITCOIN CUSTODY BY ANY INSTITUTIONS!! #XRP Could become the only regulated currency based on the US Jedicial system!
— JackTheRippler ©️ (@RippleXrpie) May 8, 2024
XRPL defi will likely explode as massive oney will shift. the top defi token on XRPL @TokenCTF token… pic.twitter.com/BSwNeB4Swa
JackTheRippler’s tweet also hints at a possible explosion in the decentralized finance (DeFi) sector within the XRP Ledger (XRPL), as “massive money” could shift towards it.
The mention of @TokenCTF, a DeFi token on XRPL, and the prediction of its price surge from $0.95 to $374.25 per token is speculative but highlights the optimism some hold for the platform’s potential growth.
Sentiment Analysis from a Poll on XRP’s Price Action
The trader and analyst EGRAG CRYPTO conducted a poll on X’s social media account regarding XRP’s performance in the upcoming bull run.
The analyst remarks that almost 4000 participants were in the poll, of which 60.5% of players supported the statement that XRP would not miss out in this bull run, suggesting positive sentiments in the community.
#XRP Final Result of the Poll and Analysis:
— EGRAG CRYPTO (@egragcrypto) May 9, 2024
Based on the poll results from almost 4000 participants, 60.5% believe that #XRP will not miss out on the current bull run, indicating a prevailing sentiment of optimism within the community.
On the other hand, 39.5% of respondents… https://t.co/e2QKr57JqA pic.twitter.com/moLIUzmaTc
Meanwhile, the remaining 39.5% think XRP will miss out on this bull run, indicating skepticism among the participants. The poll indicates the diverse sentiments in the XRP community. While some are bullish about the future, others remain wary of potential downturns. However, most people are on the positive side and supporting the crypto.
The tweets by JackTheRippler and EGRAG CRYPTO highlight the speculative and sentiment-driven nature of the cryptocurrency market. While the possibility of XRP becoming a regulated currency is exciting, it is essential to remember that the crypto market is highly unpredictable.
At the time of writing, XRP is trading at around $0.512, down over 1.63% in the last 24 hours, according to data from CoinMarketCap.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
