Billionaire investor Mike Novogratz expressed optimism about the potential for a strong rally in XRP, highlighting the early mover advantage and robust community as significant advantages in the altcoin market. Signals of recovery in technical indicators and the possibility of an ETF for XRP strengthen expectations for a price surge in the coming months.

Founder of Galaxy Digital and billionaire investor Mike Novogratz recently shared positive views on the potential for a strong rally in XRP. XRP experienced a 1.5% decline in the past 24 hours, falling to $2.67. Despite a 3% drop in the last week and a 15.5% decline in the past month, the notable 400% increase in XRP’s value year-to-date stands out. Novogratz’s comments on XRP provide crucial insights into the future of the altcoin market. The early mover advantage gained by XRP in the past and an already established strong community have positioned this cryptocurrency, according to Novogratz, ahead of newer tokens. Particularly, communities established in previous years and early investments continue to make XRP one of the strongest altcoins in the market. This advantage was highlighted by Novogratz in discussions on his Galaxy Brains podcast. He mentioned the oversaturation of new token launches and token supplies in the altcoin market, indicating that new projects struggle to build communities effectively. This positions cryptocurrencies like XRP, established earlier and with strong communities, for a long-term advantage over newer projects. Novogratz emphasized that XRP’s strong community formed in the early days will continue to keep it ahead, despite more options emerging in the cryptocurrency market.

While recent price movements show a slight decline in XRP, parallel evaluations with technical indicators suggest that XRP’s price could rebound in the coming weeks. The relative strength index (RSI) for XRP has fluctuated over the past week but currently appears to be entering a rising phase. This indicates the possibility of renewed momentum for XRP’s price, potentially reaching $2.75. Additionally, an expected increase in XRP’s price up to $3 by the end of the first quarter is anticipated. XRP’s potential inclusion in an ETF is garnering increased attention from investors, creating a positive sentiment in the cryptocurrency market. As a result, the potential for XRP to reach $4 in the second half of the year seems plausible. However, while the long-term outlook for XRP appears optimistic, some investors may prefer to focus on newer tokens showing more short-term momentum. Hence, investors may shift their focus to new projects with significant expected growth in the coming weeks.

NEW TOKENS STIMULATING THE MARKET
In this context, Solaxy, as a second-layer network for the new token Solana, is attracting attention. Solaxy, as the first L2 protocol in the Solana ecosystem, is gaining investor interest with promises of ultra-low transaction fees and high scalability. The project also offers fast bridging functionality with Solana and plans to add compatibility with other networks in the future. The $22.7 million raised in the presale of Solaxy indicates strong interest in the project. Additionally, the native token SOLX, used to pay transaction fees, could see high demand following the launch of Solaxy. The project has already reached 70,000 followers on social media platform X, showcasing its future growth potential.