XRP Surges 258% in 2024, Poised for Major Growth
Ripple's XRP has gained significant media attention due to a 258% increase in 2024. The price rose from $0.22 in early 2021 to around $2.30 by mid-December, surpassing Tether (USDT) to become the third-largest cryptocurrency by market cap.
The Beginning Of A New Technology Cycle
Linda Jones, a wealth mentor, indicates that we are entering a new technological cycle where digital assets could transform asset tokenization and finance, similar to the internet's impact on communication. She believes digital assets may outperform major tech stocks by up to 10 times.
An excerpt from my weekly newsletter today:
Digital assets should outperform tech stocks like the Magnificent 7 (Apple, Alphabet, Google, Tesla, Meta, Amazon, and Nvidia) by possibly as much as 10x, in my opinion.
Why?
There are seven reasons I can think of:
1. We are early…
— Linda P. Jones (@LindaPJones) December 19, 2024
Investors adopting this emerging asset class could see substantial growth, with Bitcoin increasing nearly 30,000% over the past decade and XRP rising 35,000% during the same period.
Unexploited Market Potential
The current low adoption rate of digital assets supports Jones's argument, with only 5% of people globally investing in cryptocurrencies. This represents a vast untapped market.
Retail investors currently have an advantage over institutional players, who face regulatory barriers. Jones anticipates an influx of institutional capital in response to expected crypto regulations by early 2025.
A proposal by US President-elect Donald Trump to exempt capital gains on digital assets from taxation could enhance investment potential for American projects like XRP and Cardano (ADA).
A Favorable Political Environment
Political changes are also supporting digital assets. Jones highlights David Sacks' appointment as Crypto and AI czar, noting his pro-crypto background as PayPal COO. This change signals a commitment to promoting cryptocurrencies.
$XRP gonna make history next year
— Bitstamp (@Bitstamp) December 20, 2024
Congress is increasingly supportive of crypto, fostering an environment conducive to regulatory clarity and growth. As XRP and other digital assets gain momentum amid changing regulations and heightened investor confidence, Jones expects 2025 to be pivotal for them, with industry leaders echoing her sentiment about XRP's historical potential in the coming year.
Featured image from DALL-E, chart from TradingView