XRP is widely viewed as a cryptocurrency with institutional ambitions. Major banks and financial institutions are increasingly showing interest, evident in Ripple's recognition by JPMorgan.
In the turbulent world of cryptocurrencies, expert statements can have a major impact on investment decisions. Recently, analyst John Squire strongly recommended that investors exchange their Bitcoin (BTC) for the XRP cryptocurrency. This recommendation comes after scathing criticism of Bitcoin from Christine Lagarde, President of the European Central Bank (ECB).
When Ms. Lagarde emphasized that central bank reserves must be “safe, liquid, and risk-free,” she questioned the relevance of Bitcoin, citing concerns about money laundering and the potentially illegal origin of this cryptocurrency. These statements could temporarily exclude Bitcoin from the European financial system, prompting analysts like John Squire to promote alternatives such as XRP.
Often considered a cryptocurrency with institutional ambitions, XRP is generating increasing interest from major banks and financial institutions. This has been reflected in the recognition of Ripple, the company behind Ripple, by JPMorgan at the Money 20/20 FinTech congress in Amsterdam.
While some banking sector players are considering accepting Bitcoin as a store of value, Deutsche Bank believes that central banks will eventually accept Bitcoin in combination with gold. In this context, XRP appears to be a preferred alternative for financial institutions.
With the SEC decision on six ETF applications approaching in October, the coming month will be decisive for XRP’s evolution in the markets. The SEC could pave the way for cryptocurrencies like XRP, offering new investment opportunities.
Ripple is gradually gaining ground against Bitcoin (BTC). For investors, it may therefore be relevant to convert part of their holdings and position themselves on XRP. Here’s how to buy it on Bitget :
If the current trend continues, converting some of your BTC to XRP could prove to be a wise choice.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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