Pro-Crypto Lawyer on XRP Gains: Pieces Are ‘Tantalizingly Close’

Key Notes

  • Dave Weisberger made a video, establishing the difference between Bitcoin and other digital assets like XRP.
  • Fred Rispoli noted that XRP needs to be used by many entities to get more gains.
  • Ripple’s $500 million expansion plans and the Senate’s move to end the US government shutdown can fuel the XRP price rally.

Fred Rispoli, a pro-crypto lawyer, recently reacted to a post by Dave Weisberger, who tried to establish the difference between Bitcoin

BTC
$105 043



24h volatility:
1.0%


Market cap:
$2.10 T



Vol. 24h:
$69.88 B

and other digital assets, including XRP

XRP
$2.46



24h volatility:
3.1%


Market cap:
$148.08 B



Vol. 24h:
$5.22 B

. Rispoli admitted that the analysis by the Bitcoin advocate was reasonable. At the same time, he suggested that he did not agree with a number of points made.

XRP Needs Higher Mainstream Adoption

In Weisberger’s video, he criticized the massive hype around XRP, comparing its 100 billion token supply to Bitcoin, which has only 21 million maximum cap. The financial analyst described BTC as scarce “sound money” that has use cases globally. In his opinion, XRP is just a utility token that finds relevance only within Ripple’s ecosystem.


Therefore, XRP’s value is derived from transaction volume and fees, while Bitcoin’s is from scarcity.

On this premise, Weisberger is certain that the flagship cryptocurrency will continue to gain traction and appreciation. Fred Rispoli did not attempt to debunk any of the claims made by the analyst, even though he hinted at some discrepancies.

 

Instead, he highlighted that XRP needs mainstream adoption across regions. He noted that the coin needs to be used more often to drive the kind of exponential gain that its community looks forward to.

Moreso, he claims that blockchain payment firm Ripple Labs has swung into action on this matter and that the “pieces are tantalizingly close to falling in place for that to happen.”

Catalysts of XRP Price Uptick

Meanwhile, XRP has recorded some uptick in price in the last few days. After struggling to push through $2.30, the coin finally hit $2.53 before retracting to its current level.

At the time of this writing, it was trading at $2.44, corresponding with a 1.39% dip over the last 24 hours. Its 24-hour trading volume is up 29.96% and resting at $6.09 billion.

Analysts have given their short-term price prediction on the coin, anticipating a rally in line with the bullish sentiment in the market.

It is worth noting that this prediction is hinged on a number of events. This includes the end of the longest US government shutdown in history, the revival of ETF momentum, and a $500 million investment for ecosystem expansion.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

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Source: https://www.coinspeaker.com/pro-crypto-lawyer-on-xrp-gains-pieces-are-tantalizingly-close/