A claim has emerged that XRP’s fundamentals and technical trend could support a medium- to long-term price rise.

On Oct. 28, blockchain outlet The Crypto Basic reported that Vandell Aljarrah, a co-founder of Blackswan Capitalist, argued that pessimism on XRP stems from misinterpreting charts and underlying conditions. He said investment opportunities should be judged separately from personal likes or dislikes about the technology or those running the project.

The key is how to view what drives XRP’s price higher. Aljarrah has argued this month that XRP’s price has been driven more by scarcity, market narrative and financial conditions than by individual partnerships or expanding real-world use. He also said last week the price could rise enough without new use cases or additional development.

He cited limited supply, the escrow structure, the value the market assigns and financial conditions in which risk assets could strengthen against the dollar. Aljarrah said the market prices scarcity and narrative over utility, putting more weight on investor sentiment and perception than on actual use.

That differs from the view that payment partnerships or new transaction channels must expand and network usage must grow before prices can rise. The logic is that prices can rise even if network activity stalls, if buying flows in or expectations for the future increase.

Amid a recent weak price trend, he said XRP investors need patience. He pointed to a past episode in which XRP traded in a range for about 2 years before the 2017 to 2018 bull market and then rose 60,000 percent, saying prolonged stagnation does not necessarily mean structural weakness.

He did not offer only optimism. Aljarrah also mentioned cases in which XRP fell sharply by about 85 to 96 percent in several past market cycles and then recovered. He said investors seeking high returns need to be prepared to endure abrupt price swings and long downturns.

As a result, the debate around XRP is shifting away from real-world use itself to how much supply structure, investor sentiment and the market environment are reflected in the price. Aljarrah said XRP could reach a new all-time high if those conditions align, but stressed that patience is needed to withstand high volatility along the way.

Both the fundamental case and the technical structure support the case for higher prices over time for XRP. Those who still dismiss it are either misreading the chart, underweighting the fundamentals, or both. You don’t have to like the tech or the people behind it to see the opportunity.