Foreign media quoted analyst Mickle as saying that XRP has risen by 46% in the past week, while Bitcoin has increased by about 21% during the same period. The article argues that this performance has once again sparked market discussions: whether XRP is entering a different phase, where the driving force no longer comes mainly from retail speculation, but rather from institutional funds that place more emphasis on practical uses.
The capital structure is said to have changed.
Mickle divides the crypto market into several stages. The earliest phase was mainly driven by speculation, and the market was not sensitive to use cases. Subsequently, the focus shifted to DeFi, but the sustainability of many projects fell short of expectations, and even the total locked-up value of Ethereum remained below its peak from 2021.
In his view, the participants entering the market now are a different type: regulated institutions with licenses that manage large amounts of funds. These funds are more concerned with whether technology can solve real-world problems, rather than short-term price fluctuations.
XRP is considered to be more closely aligned with payment scenarios.
The article states that this change is more in line with the narrative of XRP. Mickle believes that as large financial institutions pay more attention to the efficiency issues within traditional payment systems, the cross-border payment and settlement scenarios corresponding to XRP are more likely to receive attention.
He also mentioned that Ripple's current licensing and regulatory coverage has expanded to over 70 jurisdictions, and they continue to strive to integrate with traditional financial infrastructure. The article views these advancements as a plus for XRP in the next round of market competition.
The purchasing demographic is different from in the past.
Mickle also mentioned that the owners of XRP tend to be older, with most falling within the age range of 35 to 60 years old, which is not entirely consistent with the broader structure of crypto investors. The article states that new users entering the crypto market in recent years are younger, with many placing more emphasis on volatility, and some funds have also shifted towards predictive markets and betting products.
In contrast, XRP investors are described as being more likely to have been exposed to other asset classes and to have experienced previous market fluctuations. As a result, their decision-making approach tends to be more focused on thematic allocation rather than short-term chasing of rising prices.
The increase is still the best performance for a single week.
However, the article also mentions that the increase in XRP relative to Bitcoin only reflects a single-week trading performance and cannot be directly considered as a established long-term trend. What is truly worth continued market observation is the compliance progress of Ripple, the involvement of institutions, and whether the demand for XRP will continue to shift from retail transactions to scenarios related to payment and financial infrastructure.
