Melker Ditches XRP, Sees Bitcoin Reaching $220K-$250K

Scott Melker, an experienced crypto analyst, is unimpressed by XRP and has ruled it out as an investment option. He expects future market cycles to separate tokens with real utility from those primarily designed for insider enrichment.

Melker pointed to his change in investment philosophy since entering the crypto space in 2016. Initially, he bought and traded numerous tokens but now focuses on Bitcoin (BTC) and a smaller group of digital assets.

The analyst believes that most crypto tokens won't survive future market cycles, as they relied heavily on narratives and long-term promises rather than existing products or revenue. He estimates that 99% of projects from the 2020-2021 cycle didn't need a token and were primarily used for capital raising.