$XRP, $XLM, and Others Are Trading at ‘Deep Discounts’ Says Wall Street Exec

Popular Wall Street executive Linda P. Jones has recently revealed she believes that several altcoins, including $XRP, Algorand ($ALGO) and Stellar ($XLM) are trading at a “deep discount,” and told her followers she believes they could move up higher over the next two years.

In a post shared on the microblogging platform X (formerly known as Twitter) with her nearly 40,000 followers Jones shared her bullish stance on the altcoins, stating that at $0.6 XRP is trading at a “deep discount,” as is $ALGO at $0.10, $XLM at $0.10, and $XDC at $0.06.

While she noted that prices could still keep falling from current levels, she stressed that risks are lower at current rates as she believes odds are in favor of a substantial price increase within the next two years.

Notably, cryptocurrency investment products focusing on the native token of the XRP Ledger, $XRP, have seen their assets under management rise 127% so far this year, and reported their sixteenth consecutive week of inflows last week, with $500,000 being invested in them.

Investors have increased their bets on XRP after earlier this year, a recent ruling from Judge Analisa Torres in the case the U.S. Securities and Exchange Commission (SEC) brought against XRP differentiating between sales to institutional investors and on exchanges, noting the token itself isn’t necessarily a security.

The ruling saw a number of cryptocurrency exchanges including Coinbase, Kraken, and Gemini relist the token, significantly boosting its liquidity. Earlier this week, however,  the SEC revealed its intent to file an “interlocutory appeal” against Judge Analisa Torres’ recent ruling on Ripple’s programmatic XRP sales.

Moreover, blockchain data shows that the XRP Ledger has been seeing over 1.2 million transactions per day since the beginning of August, surpassing the number of daily transactions seen on the second most popular network in the cryptocurrency space, Ethereum ($ETH), which has recorded 1.09 million a day.

Featured image via Pixabay.

Source: Read Full Article