Back to the list

Pundit Explains Reasons for Buying XRP in $0.4 to $0.5 Range

source-logo  thecryptobasic.com 28 February 2024 11:34, UTC

An XRP pundit has provided specific reasons for stocking XRP within the $0.4 to $0.565 range, positioning for a potential explosive rally.

Amid mounting skepticism surrounding XRP, pseudonymous X user “CANDDAO” dedicated a message to crypto market participants who may have lost faith in XRP.

In the commentary, CANDDAO shared reasons for undertaking risks to increase his XRP holdings by procuring more tokens within the price range of $0.4 to $0.565.

This chart goes out to all the $XRP bros who are discouraged. There's a reason I took some significant risks to compound my XRP bag at these levels.

Here are a few of them:

1. We can't all be first and buy $XRP under 1 cent, so to increase my bag with "free money" makes me… pic.twitter.com/nvJUPbjB8X

— CANDDAO (@cand_dao) February 27, 2024

Supporting Factors

Firstly, the commentator emphasized that not everyone had the opportunity to enter the XRP market at its early stages. However, he suggested that opportunities exist for individuals to augment their holding to alleviate regrets of not boarding XRP early.

In parallel, CANDDAO pointed out that XRP has revisited the price range of $0.4 to $0.565 approximately ten times in the last six years. The commentator highlighted that significant movements often followed a breakout from this range. XRP’s historical charts support this claim.

However, with XRP failing to surpass its 2018 all-time high, there has been a noticeable surge in resentment towards the asset.

CANDDAO argued that negativity and pessimism towards XRP are currently at unprecedented levels. Besides, prominent figures in the XRP community have equally called attention to this trend.

Nonetheless, CANDDAO contended that, based on personal experience, the louder people express their doubts, the more vigorously XRP rallies when the time comes.

Consequently, he urged hopeful investors to remain patient and adopt a Dollar-Cost Averaging (DCA) strategy whenever doubts about XRP’s performance arise.

CANDDAO’s third point centered on XRP’s potential with the introduction of services unlocking smart contract functionality for projects that are not inherently smart contract-based, such as XRP.

Specifically, he highlighted the emergence of FAssets on Flare Network.

XRP’s Potential with FAssets

CANDDAO suggested that FXRP could catalyze total value-locked (TVL) growth on Flare as users increasingly engage with FXRP across dApps within the Flare ecosystem.

In parallel, the commentator acknowledged existing tensions between the XRP and Flare communities. However, CANDDAO pointed out that there is a significant overlap among individuals holding both XRP and FLR tokens.

He believes both networks benefit when substantial amounts of XRP are “locked” and thus removed from the circulating supply available for sale.

Lastly, the commentator discussed Ripple’s substantial monetary value. He asserts that those who fail to recognize that XRP market makers will weed out weak hands before orchestrating significant market movements do not fully grasp the game’s dynamics.

Ultimately, CANDDAO underscored that his insights are not hindsight. Instead, they are based on real-time information and historical data, with a long-term perspective for potential outcomes to materialize.