Crypto experts are set for the biggest bull run in Ripple history

The main number of assets on the crypto market is traded mainly in the sideways range, and XRP is no exception. But the behavior of the indicators on the monthly timeframe suggests that the situation for the cryptocurrency may change for the better.

Cryptanalyst Cryptoinsightsuk noted that the token is currently demonstrating graphic patterns that were last observed five years ago, when on the monthly price timeframe and XRP in pair with BTC restored the 20-period and 50-period simple moving average (SMA).

Ripple’s CTO, David Schwartz, is confident that XRP can be used as a global reserve currency, becoming an alternative to the US dollar.

During a discussion on Twitter, in the XRPStewie community, David Schwartz was asked if digital assets can be used as full-fledged reserve currencies, and if they can coexist with the US dollar. Schwartz believes that this scenario is indeed real. He also explained that now the US dollar dominates as a reserve currency for most countries.

However, many states are exploring alternatives, such as other digital asset assets such as XRP, which could open up new opportunities and make a difference. Such a scenario can be realized if countries recognize the limitations associated with dependence on the US dollar, Schwartz believes. He emphasized that small financial institutions sometimes prefer software solutions that were not developed by large banks. This is due to fears that big players might impose their preferences, Schwartz explains.

The founder of the TRON blockchain, Justin Sun, said that he is an adherent of the first cryptocurrency, he has more than 100,000 BTC in his account.

“I am a bitcoin supporter, currently holding a significant volume of 100,000+ BTC,” Sun tweeted. Sun added that TRON is helping to drive up the value of BTC.

“It is interesting to see the TRON cryptocurrency acting as a stablecoin network, which can positively affect the value of bitcoin. A notable trend is the predominant use of USDT TRON for BTC trading,” he added.

Justin Sun recently withdrew about $52 million in stablecoins from the AAVE decentralized finance protocol, one of the leading protocols, and his native AAVE token is also among the largest DeFi coins by market capitalization.

So Sun had an impact on borrowing rates. He did not publicly comment on the reason for the withdrawal of such a large part of the assets. This may be a strategic decision related to new investments or portfolio reallocation.

In May, PeckShieldAlert analysts noticed a large number of transfers of meme tokens to Sun’s wallet after the businessman announced that he plans to actively trade memcoins. Sun has been gifted several different meme tokens including WEED, METH and NGMI.

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