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In the latest episode of Black Swan Capitalist, technical analyst Francis Hunt shares the views of a Ripple executive who believes that XRP and Stellar Lumens (XLM) have the potential to have roles similar to Pepsi and Coca-Cola in the upcoming financial revolution, especially in terms of central bank usage.
Current Situation of XRP and XLM
The unnamed Ripple executive, as stated by Francis Hunt, categorizes XRP and XLM based on their potential to fulfill “similar functions.” Both cryptocurrencies are expected to play a significant role in the upcoming financial change.
It is worth noting that Jed McCaleb, a key member of the XRP Ledger (XRPL) team, also introduced the Stellar network in 2014. McCaleb previously served as the Chief Technology Officer (CTO) of Ripple until 2013.
David Schwartz, who once presented the idea that XRP was a significant token, filled the position previously held by McCaleb and became one of the leading members of the XRP and crypto community.
Stellar, created by McCaleb, has similarities with XRP. McCaleb’s vision for Stellar is similar to XRP and aims to facilitate seamless cross-border payments, supporting the privilege, accessibility, and empowerment of individuals and businesses within the global structure.
Can XLM and XRP Reach ATH?
In later episodes of the podcast, comparable price trends between XRP and XLM were highlighted, and Hunt’s perspective on their movement similarities was emphasized. According to Hunt, XLM consistently mirrors the price fluctuations of XRP.
As an initial and significant example, both cryptocurrencies reached their ATH levels at the same time. During this period, XRP reached $3.84, while XLM reached $1.05. Both tokens subsequently experienced a decline and exhibited similar price movements in the following years.
At the time of writing, XLM was trading at $0.1199 with a 0.85% decrease in the last 24 hours, while XRP was trading at $0.6199 with a 0.92% decrease in the last 24 hours. Both tokens experienced a decrease of 2.5% and 4.78% in the past week, and 9.83% and 18.88% in the past month, respectively.
Both tokens demonstrate similar price movements and operate with similar trading volumes. The analyst has set a price target of $6.5 for XLM and $33 for XRP.
