DonAlt, a popular pseudonymous cryptocurrency trader with more than 625,000 followers on the X social media platform, has opined that the Ripple-affiliate XRP cryptocurrency is "infinitely better" than meme coins when it comes to actual use cases.
Earlier, he also noted that the XRP cryptocurrency was "transparent enough" to trade it, which is not the case for many meme tokens.
"People attribute this move on XRP to it being a meme. If anything it's the opposite, the draw XRP has is that it looks and presents professional," he said last month.
According to the chartist, XRP represents the exact opposite of meme coins since it is treated as a serious project.
DonAlt, who rose to prominence years ago because of some of his prescient crypto bets, managed to predict the massive XRP rally that took place in the fourth quarter of the year.
On Nov. 16, the charist claimed that the price of the token had doubled in value since his entry. However, he claimed that the rally had not even started yet.
After the aforementioned post, the price of XRP ended up surging by a staggering 219% since that post.
XRP ended up outperforming the broader market, including major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE).
Earlier today, 10x Research described the XRP price rally as one of the "most extraordinary" developments in the crypto market. Such a major move is extremely impressive for an established cryptocurrency. XRP's market cap surpassed $150 billion earlier today.
The high-flying token is currently trading at $2.37 after paring some of its recent gains.
Vladislav Sopov
Gamza Khanzadaev
Dan Burgin