thecryptobasic.com
Renowned crypto author Panos Mekras has outlined factors he believes will contribute to XRP’s success and influence its market value, diverging from the prevailing anticipation surrounding a potential lawsuit settlement and ETF listing.
Mekras, Co-founder of Anodos Finance, expressed this sentiment amid the wave of pessimism directed towards XRP. Famous crypto investigator Mr. Huber called attention to this trend in a recent post on X.
“XRP is Dead” Campaign
Huber observed a chorus of “XRP is dead” reverberating within the XRP community due to its lagging performance compared to its counterparts.
For instance, XRP has increased 19% over the past 30 days. In contrast, rivals like Solana (SOL) have recorded 37%, while BNB has grown by over 50%.
On a sixty-day scale, XRP’s performance crashes to a mere 5% gain while its counterparts maintain significant double-digit percentage growth. This trend has been frustrating to XRP holders.
Nevertheless, Mr. Huber pointed out that history indicates fortunes can swiftly reverse with a single positive development. He cited potential developments that could impact XRP, such as Ripple-SEC lawsuit settlement or an exchange-traded fund (ETF) tracking the asset.
Huber believes those expressing discontent may soon regret selling XRP at today’s prices once positive news emerges.
Crypto Author Thinks Otherwise
In response to Huber’s insights, Mekras expressed heightened enthusiasm for XRP and its ecosystem.
“And here I am, more excited than ever for XRP and the XRP Ledger (XRPL) ecosystem,” he remarked.
And here I am more excited than ever for XRP and the XRPL ecosystem. DeFi and features such as the AMM, lending, and a sidechain ecosystem with EVM sidechain, Xahau and more is the positive developments people should look for, not settlement or ETFs. Good projects, useful apps,…
— Panos 🔼{X} (@panosmek) March 8, 2024
Furthermore, Mekras highlighted the foundation of his heightened enthusiasm for XRP. He emphasized that DeFi-based developments are set to take center stage in the XRP ecosystem, bringing various features never seen before.
In particular, he cited features like automated market maker (AMM), lending, and a sidechain ecosystem with EVM and Xahau. According to him, these features hold more significance than settlements or ETFs for XRP.
Mekras contends that the focus should be on fostering good projects, developing useful applications, and cultivating an active user base rather than solely relying on legal settlements or ETF listings to propel XRP’s growth and price appreciation.