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The XRP army might be one of the world's strongest crypto communities but there is one investor who is hardly impressed with the cryptocurrency despite the bullish claims.
Anders Bylund, the 5-star investor and crypto analyst, said XRP is a "first mover" in a large and promising field of international payments.
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Even grabbing a small percentage of the multitrillion-dollar market could be a game changer for early XRP owners, he said. But it has been wildly overvalued since November 2024 and it is overdue for a price correction in comparison to Bitcoin (BTC), he added.
Bylund thinks XRP needs a reality check.
Its current price action is driven by a unique moment of speculation last winter. Though the long-running Ripple versus Securities and Exchange Commission (SEC) suit is gone, XRP is still a tiny drop in an ocean of border-crossing payment options, he added.
Bylund said that moving money from BTC to XRP struck him as a "bad move." Bitcoin's target market is much larger than that of XRP as the former aims to rival gold, he said.
Unless something goes horribly wrong, Bitcoin is poised to multiply in the long run, he predicted. The short answer is "buy Bitcoin, not XRP," he said.
Peter Brandt, the legendary trader who accurately predicted Bitcoin’s 2018 bear-market collapse, recently said silver and XRP bulls are the "most madly obsessed" permanent bulls.
XRP was exchanging hands at $2.16 at the time of writing, up more than 7% in the last 24 hours.
Bitcoin was trading at $91,018.74 at press time, up more than 6% in a day.
