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Crypto commentator Jay Blessed argues that while XRP has been low-priced for years, presenting the investing public an opportunity to buy in cheaply, most people will not enter the market until XRP becomes more expensive.
Blessed’s commentary stemmed from the popular notion that most people remain indifferent about an asset during its initial stages of growth but will join once it is established and successful.
Applying this to XRP, the seventh-largest cryptocurrency, which has remained under $1 for three years, Blessed remarked that many investors find buying XRP at its current price of around $0.52 unattractive. However, he believes interest will surge when the altcoin later reaches a value between $5 and $10.
Joining XRP at $5 to $10
At that time, investors may be driven by fear of missing out, viewing the appreciating value as confirmation of further growth potential. For context, with XRP currently trading at $0.529, reaching $5 would represent a substantial 845% increase from current levels. The $10 mark would be even more significant, translating to a 1,790% gain from its initial point.
However, history confirms that entering a cryptocurrency market during periods of heightened enthusiasm has often put investors at risk of minimal gains and greater financial losses. For instance, market participants who bought XRP after it reached $3 in 2018 are still nursing over 80% losses six years later.
Is Entering the XRP Market Between $5 to $10 Late or Optimal According to Experts?
Meanwhile, some market pundits argue that even a price point of $5 to $10 could be considered conservative for XRP’s potential peak in this cycle, suggesting that entry at that level may not be late.
For instance, BarriC, a notable commentator in the XRP community, believes that XRP will be viewed as cheap again in a few years when it reaches the $10 to $15 range.
On the other hand, some analysts are critical of the prevailing optimism about XRP’s future. Market psychologist Michael XBT has predicted that $2 is the peak value for XRP in this cycle. He describes forecasts of a 300x surge as “delusional” and warns that those aiming for targets beyond $2 risk becoming exit liquidity for more savvy investors.