Is XRP's 30% surge just a prelude? Prediction: It may return to the starting point in the next few weeks, watch it quickly!
Nick Valdez, a big shot from the popular cryptocurrency channel Discover Crypto, sounded the alarm for XRP holders: He said that although Ripple won the big lawsuit with the U.S. Securities and Exchange Commission (SEC) and the fine was greatly reduced, the price of XRP soared by more than 30%, but now take advantage of this momentum to sell some, don't be too happy too early!
Nick Valdez is not talking nonsense. He dug out the "old account book" of XRP and found that this guy has a problem: every time there is a little good news, the price rises, but soon it falls back to the original place, like a roller coaster. He gave two examples:
Remember at the end of 2020? The SEC suddenly gave Ripple a "surprise" and said it would sue it. As a result, the price of XRP fell directly from the sky to the ground. Although it slowly climbed back a little later, it hurts my heart!
Let's look at July this year. Ripple finally won the lawsuit, saying that XRP is not a security. The price of XRP soared wildly, doubling directly. But guess what? It returned to its original state a month later.
Nick Valdez said that although Ripple won this time, the SEC may still appeal, and the price of XRP may fluctuate again at that time. He estimated that by mid-September, XRP may fluctuate between $0.4 and $0.5. So, he suggested that everyone should sell some while the price is still good now, so as not to lose money again.
Of course, Nick Valdez did not say that XRP has no future. He is still optimistic about it in the long run. After all, XRP still has two brushes in the global financial circle. But in the short term, it is better to take it easy and not be overwhelmed by the temporary rise. He also said that if XRP wants to rise further, the $0.93 mark may be a hurdle, and it will take some effort to get over it.
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