In the midst of a turbulent cryptocurrency market correction, Shayan Salehi, a digital member of the World Economic Forum (WEF) and a staunch blockchain technology advocate, has praised XRP for its resilience. His comments come at a time when XRP is showcasing a strong performance despite the broader market correction.
To put things into perspective, Bitcoin has managed a marginal weekly gain of 0.11%, while Ethereum has risen by 9.23%. Solana, on the other hand, is down 2.66% within the same timeframe. Amidst this backdrop of fluctuating performances, XRP has impressively maintained a growth of 25.64% despite the ongoing market correction, holding steady above the $1.36 support level.
Significantly, XRP has stayed above the $1 mark since November 16, with analysts attributing its current resilience to a strong support zone, which is serving as a foundation for recovery. They project the next target for XRP to be the $1.96 resistance level, which signifies its peak during the 2021 bull run.
Salehi shared his insights in a recent social media post, crediting XRP and HBAR for helping him navigate the current market turbulence, despite not owning XRP in his own portfolio. His endorsement is consistent with his ongoing advocacy for XRP and Hedera, assets he frequently promotes.
In a separate post a week ago, Salehi predicted an impending altseason if Bitcoin fails to establish a new all-time high (ATH) and remains range-bound. He hypothesized that such stagnation in Bitcoin’s dominance could lead to an inflow of capital into altcoins like XRP, potentially driving them to new ATHs.
Further, on November 21, Salehi outlined potential scenarios for Bitcoin to achieve significant price milestones. He proposed that if President-elect Donald Trump were to introduce tax-free policies for cryptocurrencies, Bitcoin could rocket past $100,000, even potentially reaching $200,000 by the end of 2025.
He also suggested that such policies would benefit altcoins like XRP, HBAR, and ADA. This potential rally, he believes, could be tied to Bitcoin reaching $150,000, which could trigger ATHs for most top 30 altcoins.
In a recent statement, Salehi underscored the important roles XRP and HBAR could play in shaping the future of cryptocurrency in the United States. He referenced the “American Crypto Act,” which he believes could introduce tax-free policies for crypto assets.
Despite the volatile landscape of the cryptocurrency market, Salehi’s unwavering support for XRP and his belief in its potential resilience provide a glimmer of optimism for XRP investors and enthusiasts alike. His insights paint a picture of a future where XRP and other altcoins could thrive, provided the right policies and market conditions are in place.
