- Former employee of financial giant Goldman Sachs, Will Meade predicts a parabolic rise for XRP, if Bitcoin returns to its ATH.
- Peter Brandt predicts a rise in the price of Bitcoin and Ethereum and an even greater rise for XRP.
Will Meade, a former employee of financial giant Goldman Sachs, recently made his first investment in the crypto market. Meade is the founder of a $1.4 billion hedge fund and revealed that he bought the digital asset XRP pending a new rally in the market.
Meade confessed to being inexperienced in cryptocurrencies, but he is confident that Bitcoin (BTC) will reach again his all-time high of around $20,000. The rest of the cryptocurrencies like Ethereum (ETH), Litecoin (LTC) and XRP will also return to their all-time highs. For XRP, according to Meade, this will represent a rally of 1500%:
I made my first crypto purchase ever this week $XRP Ripple I know very little about crypto but I believe a rising tide lifts all boats, so if Bitcoin goes back to its all time highs then XRP should as well and that would be a 15 bagger 1500%.
In the crypto community, some users celebrated the influx of fresh capital into the market. However, other users such as developer Ricardo Spagni, known as Fluffypony, were less optimistic. Spagni comforted Meade on his “loss” and said he would be better off buying penny stocks.
Will XRP go higher than Bitcoin (BTC) and Ethereum (ETH)?
As reported by CNF, XRP has been one of the worst performing assets in the last year with losses of 56%. Recently an XRP whale published a report stating that the price of the digital asset has remained stagnant due to Jeb McCaleb’s sales. The co-founder of Ripple owns a large amount of XRP that he sells periodically.
However, one of XRP’s biggest critics, Peter Brandt, apparently made a bullish prediction for the cryptocurrency. In a tweet, the legendary trader predicted a Bitcoin and Ethereum rally with a .03276 target for the first cryptocurrency. In his prediction, a user asked ironically what the fate of XRP would be. The analyst simply answered: “higher”.
— Peter Brandt (@PeterLBrandt) July 8, 2020
Just one month ago Brandt advised all his followers and investors to put at least 10% of their savings into Bitcoin. In contrast, Brandt said that the investor shouldn’t have faith in XRP and was critical of Ripple’s scheduled token sales. A report by Weiss Crypto states that Bitcoin and Ethereum are both showing gains of more than 150% from their annual lows. In contrast, XRP has fallen 20%, according to Weiss Crypto, in the same period.
On Meade’s prediction, a Bloomberg report noted that Bitcoin is in a transition phase to a form of digital gold. Due to current factors, especially the Covid-19 pandemic, the market favors and encourages a “stable” behavior in the price of BTC. Therefore, the cryptocurrency seems to resist rising above the price range it has had since the beginning of June. The report predicts a rise in the price of BTC towards $12,000 in the short term.