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- Crypto analyst commends the recent run of XRP, saying it wiped out 15 months’ loss in just 24 hours.
- Another analyst has predicted that XRP could trade between $100 and $500 in just seven months.
The price of XRP is up by 50 percent in the last 30 days to trade at $0.704322. The dramatic surge from $0.47 to $0.93 in just 24 hours after the court declared that the asset is not a security is an interesting one. According to crypto analyst Michaël van de Poppe, XRP used just 24 hours to wipe out 15 months’ losses. Based on how this happened, Poppe explains that this is a typical example of what a typical breakout looks like.
What $XRP did is show you what a bull breakout does. Within a matter of 24 hours, losses of 15 months were erased. Allocate wisely, DCA, don’t get influenced by friends and social media and simply hold. That’s the key.
Despite the excitement among XRP enthusiasts seeing their beloved asset coming back to life, some have questioned the sustainability of such a huge rise. Another user has also cautioned that some investors would take advantage of this massive run to exit the market.
This would decrease trading volume and cause a stagnation in the upward momentum. Poppe has based on the XRP’s recent movement advised investors to implement Dollar-Cost Averaging (DCA) strategies and consider prudent fund allocation.
DCA is a strategy triggered to reduce the impact of market volatility as investors allocate a fixed amount to an asset at regular intervals. In situations of a price pullback, investors would be guarded against FUDs.
Allocate wisely, DCA, don’t get influenced by friends and social media, and simply hold.
Can XRP Trade Between $100 and $500?
Rob Cunningham, the founder of KUWL Research, has also shared a tweet by Shannon Thorp, Business Support Manager at Wells Fargo, predicting that XRP may hit a price range of $100 to $500 in seven months. This is between Sept. 2023 to Feb. 2024).
In a comprehensive explanation, Thorp stated that the possibility boils down to Liquidity Strength. When XRP hit $100, there would be a Liquidity Strength of $5T, and at $500, the Liquidity Strength would be 25T.
This gives the market room to breathe, allows for growth, and ensures no one company needs to own billions of XRP to perform day-to-day operations. Now how and when will this happen? How and when for me are tied together. It has always been what the creators have stated, “A flip of the switch” I say this as I believe there will / has been an evaluation for XRP, like gold. This is how they will price you out, this is what I believe @RosieRios meant when she stated, “The train has left the station” and this is how the governments control the next world of finance! #IHopeThisAgesWell.
Thorp explained in the post that XRP is not a security, so analysts should refrain from making predictions based on traditional security valuation models. According to her, the XRP price should be evaluated based on its utility and real-world applications.
