Ripple-linked XRP has gained market attention after legendary trader John Bollinger suggested it could emerge as a new leader.

John Bollinger, who developed Bollinger Bands, indicated his views about the current XRP price action in the market. The public statement about XRP market performance represents his first such disclosure in multiple years. He previously stated in 2018 that he did not possess enough expertise to forecast XRP's future behavior.

Legendary trader John Bollinger, known for developing Bollinger Bands, has shared his thoughts on the current performance of Ripple-linked XRP in the market. The public statement regarding XRP’s market activity marks Bollinger’s first such disclosure in several years. Previously, in 2018, he mentioned that he did not have enough expertise to predict XRP’s future behavior.

"Of all of the major crypto vehicles #XRP resisted the recent singing of the Siren's song best. Will it become the new leader?" he shared on X.

Of all of the major crypto vehicles #XRP resisted the recent singing of the Siren's song best. Will it become the new leader? $XRPUSD

— John Bollinger (@JohnBollinger) August 10, 2023

His current comments highlight how XRP managed to withstand the price changes that affected the cryptocurrency market. Using an old metaphor, he explained how XRP successfully maintained stability through extreme market shifts. Bollinger's recent observation has sparked analysis and trading opinions about the potential for XRP to rise further.

During an interview, Bollinger dismissed the notion that Bitcoin (BTC) existed in a bear market because general market trends might favor digital assets. The crypto expert is making his XRP evaluation during a period when this token is outperforming most major cryptocurrencies. The market follows XRP to determine if the token will sustain its current success while cementing its status as a market leader.

XRP maintains its position of strength as Bitcoin and other major cryptocurrencies experience substantial losses. The digital currency saw a minor increase of 0.58% on Thursday as Bitcoin dropped by more than 4 percent during a widespread market decrease.

Over the last four days, investors demonstrated greater interest, leading to a more than 16% increase in the value of XRP. This interest comes as the world's largest cryptocurrency faces difficulties remaining above the $70,000 level.

Market analysts find the major contributors to XRP’s performance reside in increased expectations around regulatory certification. Traders observe that XRP maintains its institutional and retail popularity even though Bitcoin, alongside other altcoins, experiences challenges. The stability that XRP displays during market downturns has established it as an asset that endures market fluctuations.

The superior strength of XRP against other digital currencies indicates that it has the potential for additional price increases. Following its current price trends, the asset shows signs of becoming one of the primary market leaders. The future course of XRP will depend on sustained regulatory advancement and general industry patterns.

Institutions Show Interest in XRP as ETF Filings Surge

The crypto market grew more excited about XRP after Franklin Templeton filed its request to create an XRP exchange-traded fund. Franklin Templeton joins Bitwise and WisdomTree among other institutions that seek regulatory approval to offer XRP-tied products. The increasing number of institutions entering the space demonstrates their optimistic view of XRP’s future stability.

The legal dispute between Ripple and the SEC seems to have reached completion. After paying the authorities $125 million last year, Ripple reportedly seeks improved licensing conditions. The SEC is working on deciding XRP’s legal status, and this process may affect the token’s future market direction.