Cryptocurrency analysts voice their opinions on XRP. In this context, analysts claim that the altcoin project deserves to be among the top three in the market. Meanwhile, a new analysis by Kaiko shows that XRP witnessed an increase in liquidity in Q2 and entered the top 3 in liquidity score.
“This altcoin is not for the fainthearted!”
Edward Farina, Head of Social Adoption at XRP Healthcare, says holding XRP is not for the fainthearted. Because it talks about various obstacles and risks associated with this asset. Farina specifically addresses the ongoing fear, uncertainty and suspicion (FUD), ongoing regulatory litigation, delistings from several US exchanges, price manipulation and the impact it has had on the mental well-being of investors.
However, Farina emphasizes that these hurdles represent why he was adamant in his decision to never sell XRP. She also states that this is an asset that isn’t for everyone.
Crypto community weighs in on XRP
In response to Farina’s tweet, a crypto advocate considered XRP an attractive coin to buy and hold, especially for newcomers looking to build a solid portfolio for the next bull run. However, the Twitter user also warned not to overdo it. Because, she stated, there are inherent risks in the volatile crypto market.
Another commentator urged individuals to view all aspects of life as a gamble, emphasizing the importance of doing extensive research, educating oneself, and believing in possessions. A trader has expressed confidence in XRP due to its global connections and adoption, despite US attempts to thwart its progress. The trader highlighted the clarity surrounding XRP’s potential even in the face of regulatory challenges. In addition, one XRP enthusiast saw the current period as an excellent opportunity to accumulate more XRP. He also stressed that the price will remain below 50 cents for a long time.
This altcoin deserves to be among the top 3 cryptos
In a separate thread, TheDustyBC, a leading crypto inluencer, argues that the current low price of XRP does not represent its true value. Therefore, he states that the altcoin project deserves to return to the top three positions.
Meanwhile, cryptocoin.com As its readers know, according to CoinMarketCap, XRP was the third largest crypto asset with a market share of around $10 billion in December 2019. This was exactly one year before the US Securities and Exchange Commission (SEC) filed a criminal complaint against Ripple Labs for allegedly selling XRP as an unregistered security.
XRP ranks among the top 3 in liquidity score
XRP closed the first quarter of the year with an impressive price increase despite the legal pressure from the SEC lawsuit. Finally, an analysis by market intelligence provider Kaiko revealed that XRP’s liquidity improved significantly in the second quarter as well. Colin Wu, a prominent crypto journalist, highlighted the report. Wu also shared a special link to the Kaiko insight piece.
According to the information in the news, XRP is among the 16 crypto assets in the top 30 list, whose liquidity ranking increased in the second quarter compared to market capitalization. Notably, XRP rose above Bitcoin (BTC) and Ethereum (ETH) on this metric.
Kaiko evaluated 30 digital assets by market cap, excluding stablecoins and wrapped tokens. They developed their liquidity ranking system using Asset Metrics and examining trading volume and market depth on more than 35 exchanges.
XRP market cap
According to volume analysis, XRP ranks third in terms of volume after Bitcoin and Ethereum. This draws attention. According to Kaiko, XRP has moved up two places from its position in the first quarter. The market data provider attributed this to renewed interest among investors. Kaiko also noted that XRP has seen large trading volumes on South Korean exchanges. This interest from Korean investors further contributed to the rising volume.
market depth
In addition to volume, Kaiko also took into account the market depth of the top 30 cryptoassets in this analysis. Market depth takes into account the overall size of open orders. It also calculates the amount of buy and sell requests across the market. The market intelligence provider used a market depth of 1%. Accordingly, XRP also took third place, just behind BTC and ETH. XRP’s market depth increased to $30 million in the second quarter of the year.
XRP liquidity score
Overall, when trading volume and market depth were combined, XRP remained in third place in terms of liquidity score for the top 30 cryptoassets. Ripple vs. The positive developments surrounding the SEC case contributed to the increase in overall liquidity.
Kaiko sees XRP as one of the strongest movers in the liquidity rankings since the first quarter.
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