As memecoins surge in popularity, many now believe that these coins are the future of the industry

One recent example of this is the recent X post by the crypto analyst Tony Edward. In his post, he announced that he is selling his utility-based coins like Bitcoin, Ethereum, XRP, and Solana. He added that he is selling such assets to buy memecoins like Dogecoin and Bonk instead.

As memecoins continue to surge in popularity, many now believe that these coins are the future of the industry. This was highlighted in a recent X post by the crypto analyst Tony Edwards.

In his post, Edwards announced that he is selling his utility-based coins like Bitcoin, Ethereum, XRP, and Solana. He added that he is selling such assets to buy memecoins like Dogecoin and Bonk instead. Based on his projection, these coins’ speculative nature will help them reach a better performance when compared to established coins.

High Stakes, High Risk: Ripple CTO Reacts to Bold Investor

Reacting to this reckless choice, Ripple CTO David Schwartz just posted the acronym YOLO, which stands for you only live once. This can be deduced both as a compliment for taking a leap and a mockery of such illogical behavior.

Either way, this highlights that the current trend in the market is highly speculative. Additionally, it also shows that many investors are just looking for unexpected gains and, as such, have a high risk appetite. However, such a decision could also have been caused by the bearish sentiment in the established coins market, like XRP.

Crypto Fear Rises: XRP Slides After Failing to Break $2.20

The crypto market's sentiment has turned bearish as the fear of macroeconomic factors has caused investors to pull out their capital. XRP news is also bearish as it is declining in value. The XRP token has continued to fall from its 24-hour high of $2.20.

The fall has not stopped as the XRP token is now trading at $2.08, seeing a 1.3% daily decline. Additionally, this marks a 12.8% weekly value degradation, which will dampen the sentiment even more.

Chart 1 – Provided by Aayushjindal, published on TradingView, April 2, 2025.

Chart 1 shows XRP going under the $2.15 price point and breaking the 100-hourly Simple Moving Average support. Additionally, we can also see a bearish trendline being created at the $2.120 price zone.

As such, the current XRP price prediction is bearish, as XRP has lost essential support levels. This all started when this token failed to break the $2.20 resistance. Consequently, if XRP is to flip the sentiment to bullish, it needs to break this important resistance level.

XRP Bulls Fight Back: Can They Break the $2.20 Barrier?

As of now, the selling pressure has pushed the XRP value below the 50% Fib retracement level. This level showed a recovery wave which started from the low of $2.023 and reached the high of $2.199.

However, the Bull activity near the $2.10 level has been strong. As in the past day, bulls have managed to pull the XRP's price above this point.

As such, the 61.8% Fib retracement level can still be recovered. There is also another scenario where we can expect to see a bullish XRP price prediction.

Based on this scenario, the XRP price first needs to overcome the $2.120 and $2.150 resistances. This will stabilise the price and can prevent further value decrease. However, to reach the $2.320 price point, the bulls need to break the $2.20 resistance first.

Can the Crypto Market Survive the YOLO Mentality?

Today there was both positive and negative XRP news, showing the market's complexity. Such complexity can be overwhelming to some traders, pushing them towards more speculative assets.

As Ripple's David Schwartz put it, such traders can just YOLO their savings, turning crypto investing into gambling. Such a way of thinking can damage the crypto space and its legitimacy, setting the industry back.