Crypto CEO Very Bullish On XRP Price, Sets Make Or Break Point
September 30 2023 - 11:00AM
NEWSBTC
Following its victory against the US Securities and Exchange
Commission, the XRP price has been displaying bullish sentiments,
effectively gaining the attention of long-term investors seeking to
buy and hold to gain more profits. In light of this, a crypto CEO
has disclosed his insights on XRP’s bullish outlook, acknowledging
the prospects of a bull run in the future. Crypto CEO Concedes
Possible XRP Bull Run The market sentiment surrounding Ripple Labs’
native token, XRP has taken a bullish trajectory, increasing
investors’ confidence and expectations of a possible bull
run. Related Reading: CRV Price Surges 16% – What’s The Next
Move For Curve DAO Token? Matthew Dixon, Chief Executive Officer of
Evai, a renowned crypto valuation platform, has recognized and
highlighted this shift in market sentiment and aired his remarks on
the token’s bullish position in an X (formerly Twitter) post on
Friday. A price surge for the XRP price may be inevitable
according to Dixon who used market insights from well-known crypto
market analysts who were bullish on the crypto as a basis for his
belief. “Listening to other market commentators I hear a lot of
Bullishness in the air for XRP. They may well be right,” Dixon
stated. XRP price still holding at $0.51 support | Source: XRPUSD
on Tradingview.com Dixon Exercises Caution Amidst XRP Price Bullish
Sentiment Amid the backdrop of crypto market volatilities and
regulatory uncertainties that have plagued the XRP ecosystem, the
cryptocurrency’s bullish trend comes as great news for the XRP
community and its investors. There have been many price
predictions for the XRP token. Some market analysts have predicted
that the XRP price may see an increase as high as $250. Another
analyst also forecasted a price surge of 2500% for the XRP token,
pushing the cryptocurrency as high as $20 in the future. Related
Reading: Maker (MKR) Inks 20% Price Advance, Leads Top 50 Coins
Today XRP’s bullish trend started taking effect after its win over
the SEC when US District Judge Analisa Torres ruled in favor of
XRP, stating that programmatic XRP sales do not qualify as
securities. Market observers are presently watching the XRP
price and the developments in its ecosystem closely. The
cryptocurrency has had its fair share of gains and losses this
year. Therefore, it remains to be seen if XRP can sustain its
bullish sentiment. Dixon has stated that he would remain
cautious of XRP’s bullish momentum while waiting for more
compelling evidence of a bull run in the future. The crypto CEO
explained that he would remain a short-term investor to avoid
significant losses. Nevertheless, he stated that he was also open
to being a long-term investor of XRP if the prospects of a bullish
run remain strong and the overheard resistance is overcome.
“I will remain cautious until that overhead resistance is
convincingly breached. If it is I’m happy to go long but until then
shorts are favored with close stop losses,” Dixon stated.
(This site’s content should not be construed as investment advice.
Investing involves risk. When you invest, your capital is subject
to risk). Featured image from: Invezz
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