For his short-term mentality
One market analyst believes that investors who fail to buy XRP below a three-digit price level will regret their decision.
Coach JV, a market commentator and CEO of 3T Warrior Academy, made the revelation amid the turmoil sweeping the cryptocurrency market. XRP has not escaped the bloodbath, dropping 1.24% on Christmas Day and a further 6.06% on Boxing Day.
“Investors will regret not buying XRP under $100”
However, the altcoin appears to have started to recoup these losses, but this recovery was not enough to bring it back above the $2.2 level. Despite the gloomy situation, Coach JV believes that the long-term fundamentals of XRP look good.
He expressed this confidence in a recent disclosure, as some investors sit on the sidelines amid XRP’s price performance. Interestingly, his comment suggests that he expects XRP to finally break the $2 area and push towards new highs of $5 and $7.
According to Coach JV, market participants who fail to buy XRP at $2, $5, or $7 will regret their decision one day. Moreover, in a more ambitious view, the market expert predicts that these individuals will fear missing out on the opportunity to buy XRP when it reaches the bold target of $100.
XRP Price Prediction at $100
The $100 price prediction has been a central topic within the XRP community, with one camp strongly defending it while the other dismissed it as just optimistic thinking.
It is worth noting that the total supply of XRP is around 100 billion tokens, which would imply a valuation of $10 trillion if the price of XRP reaches $100 per token. Critics have cited this supply issue as the main factor preventing such a price level, as the $10 trillion market cap represents around 10% of the total global money supply M2.
However, some experts remain optimistic. For example, market commentator Armando Pantoja claimed last month that XRP’s price rally to the $100 mark is very likely. He dismissed concerns about market cap constraints. Levy, a crypto YouTuber, also said he is “100% sure” that XRP can hit $100.
Now, Coach JV, who also advocates this price prediction, believes that most investors will not start investing in the XRP market until it hits the $100 level. In his latest comment, the trader warned against the short-term mentality, which leads investors to expect immediate gains. According to him, this is destroying their portfolios.
XRP is in a strong position
Meanwhile, amid the ongoing market turmoil, XRP appears to be in a comfortable position. While the token has defended the $2 support level, currently trading at $2.15, the Commodity Channel Index (CCI) is now at -112, indicating an undervalued position.
This number suggests that XRP has plenty of room to grow, which could lead to it finally breaking through the $3 level once the market recovers. For context, the last time the CCI traded at -100 was in late October when XRP was trading at $0.50. It had enough room to surge 480% to $2.9 on December 3 from that level.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.