Experts say that XRP holders may "strike it rich" with one move
Cryptocurrency market expert Oscar Ramos stated that XRP holders looking to get rich may just be waiting for an opportunity; once that opportunity arises, XRP could surge again.
Since XRP gained popularity in November, everyone's eyes have been on it. On November 5, the day of the U.S. presidential election, XRP surged by 283%, reaching a seven-year high;
After peaking, XRP stabilized.
This upward trend continued into December, where on December 5, XRP hit $2.90, marking a seven-year high, before starting to pull back. Now the entire cryptocurrency market is also adjusting, and XRP has settled around $2;
Expert Oscar Ramos has mentioned that this pullback is only temporary. XRP holders looking to get rich may just be waiting for a significant event; when that happens, XRP could surge again;
Ramos believes that the current dip provides a good opportunity for those wanting to buy. He mentioned in a recent video that with everyone busy celebrating Christmas, the market is quiet and trading is not very active.
This inactivity is precisely the right time for buyers to purchase XRP at a lower price. Experts say to be prepared, as you never know when prices might shoot up;
What could drive XRP's next rise?
Experts say that XRP's next rise could hinge on a significant event. He mentioned several possible scenarios. One is that institutions are increasingly interested in cryptocurrency investments, which could lead to more attention on XRP;
He gave an example of MicroStrategy recently purchasing 5,262 bitcoins at a cost of $561 million, demonstrating institutional confidence in digital assets.
Additionally, if an XRP ETF is approved, it could also impact XRP's price. Bitwise and 21Shares have submitted product listing applications, and BlackRock may also be considering this matter.
Moreover, if Ripple's stablecoin RLUSD is launched, it could be a positive development. This could bring more utility to the XRP ecosystem, making it more appealing for businesses. If RLUSD appreciates in value, it may attract more institutional and retail investor interest.
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