Renowned cryptocurrency proponent Edo Farina is advising investors to consider purchasing XRP without delay, rather than waiting for a price dip that may not occur.
In response to his followers on X, Farina emphasized the risks of waiting for a retracement in the token’s price, suggesting that the asset may not experience any significant drop from its current level.
According to Farina, his past predictions regarding the digital asset have often been accurate, particularly his forecast of XRP’s price falling to $0.20 following the U.S. SEC’s lawsuit against Ripple in 2020. He expressed confidence in his current perspective, asserting that the token is undervalued at its present price.
DON’T wait to buy $XRP.
Buy $XRP and wait. pic.twitter.com/vzWaJoHC4V
— EDO FARINA 🅧 XRP (@edward_farina) November 11, 2024
Potential for Strong Market Performance
In Farina’s view, the token holds substantial potential for price growth. He pointed out that XRP, along with Stellar (XLM), which was currently priced at $0.11, could achieve notable gains due to their established roles in the financial sector.
Farina highlighted that both assets have shown strong performance during previous bull cycles, particularly because they often experience price surges later in the cycle. He referenced the 2018 bull market as an example, noting XRP’s historic increase of 36,000%, which raised its price to an all-time high of $3.84.
He forecasts an upcoming rally in the token’s price, urging investors to consider purchasing the asset before prices rise. According to him, a failure to invest promptly could mean missing out on considerable gains. He advised investors to aim for an acquisition of at least 10,000 XRP.
Farina also suggested that investors consider diversifying their holdings with other promising assets, including Stellar (XLM), due to their similar growth potential. He implied that this strategy would enable investors to capitalize on future market developments effectively.
A Long-Term Approach for Lasting Gains
He further encouraged a long-term approach to investing in cryptocurrencies, emphasizing that holding assets for an extended period might outperform short-term market moves.
He believes this method will allow investors to achieve notable returns even as institutional investors enter the space. Farina assured investors that, over time, minor price fluctuations will have little impact on their overall returns.
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Recent Market Activity and Price Movements
The asset has shown moderate gains as part of a broader market rally. Market sentiment strengthened following the recent U.S. presidential election, which saw Donald Trump return to office.
This optimism has contributed to the increase in the token price, which briefly exceeded $0.60 to reach an intraday high of $0.6160. However, at press time, the asset’s price trades $0.5937, reflecting a minor daily decrease of 1.77%.
Farina’s perspective aligns with his broader belief in the long-term potential of XRP and similar assets. This emphasizes a strategic, steady investment approach rather than focusing on short-term price shifts.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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