Billionaire investor Mike Novogratz expressed optimism about XRP’s potential for a strong upward trend, highlighting the advantage of early movement and a strong community in the altcoin market. Signs of recovery in technical indicators and the possibility of an ETF for XRP strengthen expectations for a future price increase. Novogratz, the founder of Galaxy Digital, recently shared his positive views on XRP’s potential for a strong surge. Despite a 1.5% drop in the past 24 hours, leading to a price decrease to $2.67, XRP has shown an impressive 400% increase year-to-date, compared to a 3% loss in the past week and a 15.5% loss in the past month. Novogratz’s comments on XRP provide valuable insights into the future of the altcoin market.

Novogratz highlights that XRP’s early mover advantage and a well-established strong community have given this cryptocurrency a significant edge compared to newer tokens. Communities formed and investments made in the past years continue to position XRP as one of the strongest altcoins in the market. Novogratz points out in his Galaxy Brains podcast that while the altcoin market sees numerous token launches, new projects often lack the time to build a community properly, unlike XRP, which shines through its established network. This competitive edge is expected to propel XRP’s price increases, especially with the potential addition of an exchange-traded fund (ETF) and the positive signs it presents for the coming months. Novogratz emphasizes that XRP’s early foundation of a strong community will continue to keep it ahead in the cryptocurrency market.

Recent price movements in the past 24 hours indicate a slight decline in XRP’s value. However, when analyzed alongside technical indicators, it is suggested that XRP’s price may rebound and start ascending in the upcoming weeks. The relative strength index (RSI) of XRP has shown signs of entering a rising phase after fluctuating over the past week. This indicates the potential for XRP’s price to gain momentum and potentially reach $2.75 in the near future, with expectations for a rise to $3 by the end of the first quarter. The possibility of XRP joining an ETF attracts increasing attention from investors, creating a positive outlook for the cryptocurrency market that may lead XRP to reach $4 in the second half of the year.

However, despite the long-term optimistic outlook for XRP, short-term assessments show market uncertainty. While some investors may prefer to focus on new tokens with more immediate momentum, considering the expectations of significant growth for such projects in the coming weeks. In this context, one of the new tokens drawing attention is Solaxy, the layer 2 protocol within the Solana ecosystem. Solaxy promises ultra-low transaction fees and high scalability, attracting investors’ interest. With a successful pre-sale raising $22.7 million and a native token SOLX set to facilitate fee payments, Solaxy is anticipated to witness high demand upon its launch. With 70,000 followers on the social media platform X, Solaxy’s growth potential becomes evident.