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Versan Aljarrah, the founder of Black Swan Capitalist, recently took to X to express his views that XRP price movements are mere distractions from its real value proposition.
Notably, XRP posted an intraday loss of 2%, trading at $0.5648. Today’s decline has worsened XRP’s weekly performance, which now amounts to a 6% drop.
Looking at XRP’s performance on a year-to-date basis, the asset’s performance is discouraging compared to its peers. Specifically, XRP is down by 8.16% since January, while its closest rival, Solana, boasts a gain of 37%. Bitcoin and BNB are showing more impressive gains of 41% and 72%, respectively, this year.
This underwhelming performance has generated significant frustration among holders, sparking widespread declarations that XRP is “dead.”
However, staunch XRP proponents like Aljarrah believe these painful price actions are irrelevant. According to him, the continuous fluctuations observed in XRP’s price are distractions or “noise” engineered to discourage people from benefiting from XRP’s long-term potential.
“Fluctuations and hype are just noise meant to shake you out,” Aljarrah remarked. He underscored his belief that the true worth of XRP lies not in its market price but in its underlying technology and robust network.
XRP: “Backbone to the New Banking System”
Aljarrah argues that XRP is positioned as the “backbone to the new banking system,” highlighting the cryptocurrency’s potential role in reshaping the global financial landscape.
Furthermore, the Black Swan Capitalist founder elaborates on XRP’s interoperability, suggesting that many new financial systems are being developed to be compatible with its protocol.
Essentially, Aljarrah emphasizes that while short-term traders might focus on XRP’s price volatility, long-term investors should pay attention to its technical capabilities and strategic importance in the future of digital finance.
Notably, Versan Aljarrah is among the most ambitious XRP enthusiasts in the community, who believes that a price point of up to $10,000 is feasible for the asset at some point in the future.
Community Reacts
However, while some agree with his perspective, other commenters have challenged Aljarrah’s stance. One commenter pointed out that if he is truly unconcerned about XRP’s price, then XRP might as well be a stablecoin. This highlights the ongoing frustration among investors over XRP’s lackluster price performance.
Meanwhile, community member Johann Koch speculated that XRP’s extensive adoption over the next few years might lead to greater price stability. He wondered if this increased stability could shield XRP from future bear markets.