XRP Is One Crypto This Analyst Won't Touch Again — Here's What He Prefers Instead

XRP (CRYPTO: XRP) is the one cryptocurrency analyst Scott Melker says he would "never touch again." He expects the next market cycle to draw a sharper line between tokens with genuine utility and value accrual and those designed primarily to enrich insiders and early investors. Why Melker Won’t Touch XRP Again? Melker in a "51 Insights – What Matters in Digital Assets" podcast on Sep.23 cautioned "XRP. Sorry, guys." He linked his stance to a broader criticism of crypto projects that raised substantial amounts of capital before developing businesses and products around their ecosystems. Melker’s comments formed part of a broader argument that crypto investors should distinguish between adoption of a company or network and whether that activity ultimately creates value for holders of its associated token. He said his own investment philosophy has changed substantially since entering crypto in 2016. Initially, he bought and traded numerous tokens but now focuses heavily on Bitcoin (CRYPTO: BTC), alongside a much smaller group of digital assets. Most Crypto Tokens Won’t Survive Melker argued that previous crypto cycles allowed projects to achieve enormous valuations based on narratives and long-term promises rather than existing products, revenue or usage. The analyst pointed to the 2020-2021 market, when venture investors could invest shortly before a token launch and potentially realize substantial returns from their initial allocations. He estimates 99% of those projects didn’t need a token, with many using tokens primarily as a mechanism for raising capital. That model, Melker believes, will struggle to repeat itself. Rather than another cycle in which investors can "throw a dart" and potentially find a token that rises 100-fold, Melker expects value to increasingly concentrate in utility and revenue driven projects. He pointed to Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) as established Layer 1 networks benefiting from institutional adoption, while Hyperliquid (NASDAQ:PURR) is an example of a project with actual usage, earnings and token buybacks. Melker similarly expects consolidation among blockchains, predicting that many smaller L1 and L2 networks could eventually become “zombie chains” or disappear. Bitcoin Predicted To Reach $220K To $250K Melker remains firmly bullish on Bitcoin, saying his preferred strategy is to dollar-cost average and "forget about it." He continued buying as Bitcoin fell from its $126,000 peak into the $60,000 range, becoming more aggressive as prices declined. Based on his long-term outlook, $60,000-$80,000 was a "liquidation sale." Looking to the next cycle, Melker sees Bitcoin potentially reaching $220,000-$250,000, while acknowledging that his previous cycle price targets were too optimistic. Image: Shutterstock Read Also: Can Bitcoin Treasury Companies Beat BTC as Debt Crisis Threatens Dollar? Strive CEO Weighs in Photo: Shutterstock