Wall Street Expert: XRP is Very Bullish as Large Institutions Can Now Trade XRP with Big Money

The renowned Wall Street financial expert Linda Jones has recently highlighted reasons for XRP holders to be bullish, particularly amid institutional access to XRP.

In a recent tweet, Jones spotlighted that the leading US-based exchange Coinbase approved derivative contracts for XRP trading tailored to institutional investors. The Wall Street expert, therefore, proceeded to recount the implication of such a move to XRP investors.

“Coinbase approving perpetual futures contracts for trading XRP means XRP is very bullish,” the financial expert proclaimed.

Coinbase approving perpetual futures contracts for trading XRP means:
1) XRP is very bullish. If XRP’s price was not going to fluctuate or change a lot, no one would be interested in trading it. Futures contracts allow for maximum leverage and can lead to outsized profits (or…

— Linda P. Jones (@LindaPJones) October 18, 2023

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Jones elaborated that the essence of futures contracts lies in their ability to accommodate extreme price fluctuations. She argued that without this potential for significant price movements, there would be little interest in trading XRP through such derivative contracts.

Notably, this view rests on the sentiment that investors seeking to bet on the price action of a digital asset seek those with volatility for optimal profitmaking.  

Besides, Jones acknowledged that “futures contracts allow for maximum leverage and can lead to outsized profits (or losses).”

Furthermore, the financial expert underscored the caliber of investors that engage in futures trading. She stated that derivative trading appeals chiefly to Wall Street firms, particularly hedge funds.

XRP is Very Bullish

Moreover, Jones emphasized the place of XRP in such a context, noting the sheer weight of institutional money entering the XRP market, unlike retail funds. She expressed a conviction about the bullish potential for XRP amid the anticipated influx of institutional capital.

Jones remarked: “This is bullish for XRP because it means the large wave of institutional money is close to coming in, and they want to trade on the volatility.” 

Meanwhile, the financial expert lamented Coinbase’s secrecy regarding the specific countries that have received approval to engage in trading the futures contracts. She speculated the top investing firms could be in Bermuda or the Cayman Islands. According to her, Bermuda and the Cayman Islands “are the jurisdiction for hedge funds and other offshore funds.”

Coinbase Perpetual Futures Trading

Recall that Coinbase received regulatory approval in May to offer futures contracts to non-US institutional investors. Four months later, the exchange got another clearance to extend the offer to retail investors.

Meanwhile, in a statement yesterday, Coinbase introduced perpetual futures trading for its international clientele through the Coinbase Advanced platform. Notably, XRP features among its initial selection of four assets.

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• Source: https://thecryptobasic.com/2023/10/19/wall-street-expert-xrp-is-very-bullish-as-large-institutions-can-now-trade-xrp-with-big-money/?utm_source=rss&utm_medium=rss&utm_campaign=wall-street-expert-xrp-is-very-bullish-as-large-institutions-can-now-trade-xrp-with-big-money