Is it too late to buy XRP? Crypto experts give their XRP price predictions
XRP, the cryptocurrency that powers crypto-payments firm Ripple’s decentralized, public blockchain (dubbed the XRP Ledger), last traded hands at just under $0.39 per token, having pulled around 2.5% lower on the day, amid a modest decline in broader cryptocurrency prices from recently. heights. XRP is now trading down nearly 5.0% from Monday’s multi-week highs in the $0.4070 range.
The pullback from recent highs comes despite some positive recent news that Ripple had secured a new business partner in the UAE. Joyalukka’s Exchange will use Ripple’s XRP-based On-Demand liquidity product to optimize cross-border payments, according to a post by the CEO of the exchange on LinkedIn.
XRP’s reluctance to continue pushing higher into the $0.40s comes as XRP faces significant resistance from a downtrend that connects highs dating back to last September. If XRP can muster a push into the mid-$0.40s in the coming weeks, perhaps if the broader crypto market rally resumes, it could trigger a quick move higher towards resistance in the $0.50-55 range.
Crypto experts give their price predictions
Popular crypto YouTuber Myles G Investments said he believes XRP is “probably going to be one of the best coins this year”. He added that XRP appears to be starting to break out of the bear market.
Elsewhere, popular YouTuber Crypto King noted that XRP may be looking at 100x potential if Ripple is able to win the lawsuit against the US Securities and Exchange Commission, which accused Ripple of issuing XRP as an unlicensed security.
Is it too late to buy XRP?
Asking if it is too late to buy an asset is never the right question. The answer is always never. The right question is whether an asset should be bought or not. And it depends on how an investor assesses his long-term outlook for price development.
If, based on your own research, you believe that XRP offers a good risk-reward at current prices and is likely to rise significantly in price in the current years, it is probably worth buying. It is independent of the token’s recent performance. If you don’t consider XRP a good risk reward, then stay away.
Buy XRP now
XRP Alternatives to Consider
As discussed above, XRP’s near-term outlook is…. Traders looking for quick gains may prefer to consider other tokens with high potential, such as those sold in pre-sales promising upcoming crypto projects. We’ve reviewed some of the top contenders in this list of the top 15 cryptocurrencies for 2023, as analyzed by CryptoNews Industry Talk team.
The list is updated weekly with new altcoins and ICO projects.
Disclaimer: The Industry Talk section contains insights from crypto industry players and is not part of the editorial content of Cryptonews.com.
