THELOGICALINDIAN - Save for a few blips XRP Litecoin Bitcoin Cash and others accept been allotment of the top 10 cryptocurrencies for years Since the blast of 2024 the altcoins at the top of the backpack accept abundantly been unquestioned
But a arresting researcher and armamentarium administrator is arduous the cachet quo. He wrote in a contempo cheep that he doesn’t anticipate that bristles of the top 10 cryptocurrencies “do NOT deserve” actuality area they are today.
Top Researcher and Investor Comes Out Against XRP, Bitcoin Cash, Other Altcoins
Simon Dedic, the co-founder of crypto analysis close and a managing accomplice at Moonrock Capital, is arduous the crypto cachet quo.
The broker wrote on June 21st that he thinks that bristles of the top 10 cryptocurrencies are overvalued:
Not the Only One Expecting a Shake-up
Dedic isn’t the alone industry controlling to apprehend a anarchy in the top-10 cryptocurrencies.
Ryan Selkis, CEO of crypto analysis close Messari, shared the cheep beneath on June 21st. Attached, he wrote:
His accepted top ten cryptocurrencies for 2024 basically armament out a majority of the bounden top altcoins. Selkis’ account alike suggests that XRP and Tether’s USDT will bead out of the top 10, which would be a able change from their fourth and third continuing today.
XRP Could Be the First to Fall: Analysts
While Dedic and others see weakness in abounding arresting altcoins, XRP may be the aboriginal domino to fall.
As reported by Bitcoinist previously, a arresting article analyst is suggesting that XRP could attempt 90% in the advancing months.
Multi-decade banker and abstruse assay columnist Peter Brandt said that the cryptocurrency afresh bankrupt beneath a acute abutment adjoin Bitcoin. The abutment captivated on assorted occasions over the accomplished few months. It additionally acted as a launchpad for the cryptocurrency in 2024.
Should XRP abort to balance that abutment in the abreast future, Brandt is assured the asset to abatement to 200 sats. That is agnate to about $0.02 per coin, bold Bitcoin’s accepted amount of $9,700.
Others accept echoed in the skepticism.
One bearding banker appropriate that there’s a aerial adventitious the cryptocurrency trades aloft $3.00 or alike $1.00 again, calling XRP overvalued.
And addition said that while XRP’s advance in 2024 may accept been predicated on “promising tech,” there is no agreement that it will rally.
