XRP Price Set To Skyrocket? Analyst Reveals Why You Should Buy And Hold

On Jul 16, 2024

Crypto analyst Crypto Bitlord has urged market participants to buy the XRP token. In a series of posts on his X (formerly Twitter) platform, he suggested why he asked everyone to make such an investment decision.

Crypto Analyst Says Buy XRP And Hold

Crypto Bitlord urged everyone in an X post to buy and hold XRP. His statement seemed to have come as a surprise to some of his followers, given XRP’s underperformance since the start of the year. When quizzed by one of them about what he believed XRP was going to make a run soon, Crypto Bitlord suggested that massive news was on the horizon that could positively impact XRP’s price.

In subsequent posts, the crypto analyst also provided insights into why he was bullish on XRP. In one post, he stated that people might call him “delusional,” but he believes that XRP will flip Ethereum in this market cycle and even added that maybe Bitcoin, too. He said that he expects XRP to suck so much liquidity out of the market while other sectors “will be rugged to feed the Ripple monster higher.”

In another post, the crypto analyst again heightened expectations that something huge might be in the pipelines for XRP, as he stated that it is no “coincidence” that he is shilling XRP again. For those doubting his bullishness on XRP, he revealed that he has been bullish on the crypto token since it was just trading around fractions of a cent.

He boldly claimed that he helped retired generations as those who bought XRP when he was shilling it back then made significant profits when the crypto token eventually pumped to $2.70. Based on this, the crypto analyst suggested that discarding his advice might not be a good move.

Crypto Bitlord also had a word for those already holding XRP, as he stated that anyone who sells now might be forced to buy higher.

XRP Can Rise To As High As $589

While analyzing XRP’s chart, Crypto Bitlord raised the possibility of XRP rising to as high as $589. He alluded to the relationship between “exponential growth and logarithmic scale” as the reason he believes that XRP could reach such unprecedented heights. He added that the fractal indicator suggests that XRP can rise between $28 and $589.

Source: X

Meanwhile, the crypto analyst claimed that a more conservative target puts XRP at $7, although he stated that the crypto token rising to that price level “feels too easy,” in his opinion. XRP rising to $589 looks farfetched considering that it would put the crypto token’s market cap at around $30 trillion, but Crypto Bitlord suggested it doesn’t matter.

At the time of writing, XRP is trading at around $0.53, up about 1% in the last 24 hours, according to data from CoinMarketCap.