A renowned analyst known as Davinci Jeremie has predicted that XRP is on course for a bullish reversal. According to him, the asset would first breach the $3 resistance level before staging the much-expected run to a new all-time-high price.
Meanwhile, the analyst has publicly disclosed that he is not a fan of XRP and he remains a critic of the asset. According to him, his personal feeling does not come in between the signals of the charts, and its future trajectory.
“I’m not a fan of XRP, and I believe XRP is a bad idea as a cryptocurrency. However, technical analysis doesn’t care about my opinions.”
Currently, XRP is trading at $2.39 but has declined by 0.2% in the last 24 hours and 1.36% in the last seven days. According to Jeremie, XRP could hit $20 from this level.
This predicted price point is expected to send its market cap to more than $2 trillion. Meanwhile, another analyst believes that XRP could hit $38. As noted in our earlier post, the analyst explained that the asset may follow a historical pattern. Interestingly, Jeremie argues that the market mostly follows a path that contradicts logic.
Jeremie’s Previous XRP Criticism
Jeremie’s current position has generated mixed reactions from the XRP community as co-founder of Anodos Finance, Panso Mekras asked him to come clear on his admission of XRP as the best digital asset ever created. Another user, identified as Amity, reminded Jeremie of his previous prediction that XRP would crash down to zero.
“You keep jumping from attacking it to becoming bullish for the past 8 years. Just about a month ago, Jeremie labelled XRP as the banker’s coin. According to him, people who invest in the asset truly have no control over their money as XRP could be frozen anytime. Additionally, he explained that buying XRP is tantamount to supporting banks which he labeled as the ‘wealthiest criminals in society.’”
In his submission, Jeremie advocated for Bitcoin investment as he claimed it is not controlled by any central authority and, henceforth, exists as the people’s money. Shedding more light on this, he highlighted that the underlying Bitcoin protocol cannot be modified, unlike XRP developers who can change the supply of the token. According to him, XRP creators can even block holders from making transfers.
Soon after these statements, the XRP community released a statement to clarify that while XRP Ledger (XRPL) truly has a freeze feature, it only applies to issued tokens rather than the XRP itself.
Jeremie’s assertions have also been dismissed by former XRP executive Matt Hamilton, who argues that the asset could soon surpass Bitcoin. As we covered in our latest report, Hamilton believes that XRP is more suitable for institutions and retailers due to its robust infrastructure.
While Bitcoin can handle only a limited number of transactions at a time, XRP’s infrastructure is designed for high throughput.
In another interview reviewed by CNF, Hamilton argued that if XRP is a banker’s coin, then Bitcoin is the drug dealer’s coin.