Crypto analyst Oscar Ramos made some statements that will excite XRP investors.$XRP
XRP, which attracted attention with its strong performance in November, has started to lose value recently. Due to the increasing selling pressure, the price of XRP has decreased by approximately 20%. In particular, the 10% decrease experienced on December 20 caused concerns among investors. However, crypto analysts predict that XRP will recover despite these declines.
Ramos noted that XRP investors have the potential to make huge profits and emphasized that there is a significant catalyst that will trigger the altcoin’s rise again.
XRP Takes a Break from Rally
XRP surged by 283% on November 5 after Donald Trump won the US presidential election. This performance led to its highest close in seven years. However, the altcoin performed poorly in December. According to TheCryptoBasic, XRP continued its rally into December and reached a seven-year high of $2.9 on December 5. With the corrections that followed, the price consolidated around $2.
Will the Rise Continue?
Market commentator Ramos said that he believes that XRP’s consolidation period is temporary and the price will start to rise again. According to Ramos, XRP holders can make huge profits.
Ramos states that the current decline offers investors the opportunity to accumulate more coins. Ramos said that investors should evaluate this period and save, and especially noted that the market stagnation during the Christmas period offers a good time frame in order not to miss opportunities. He also predicts that price volatility will start again soon.
Critical Steps for XRP
Ramos stated that in order for XRP to realize its potential rally, institutional investments in the US should increase. He thinks that the launch of spot ETFs will have a positive impact on the price of XRP. He also predicts that the RLUSD stablecoin could also contribute to the rise of XRP.