Per a recently released YouTube video that is grabbing the attention of crypto enthusiasts, especially XRP holders, XRP is projected to rise to highs between $8 and $13.
crypto expert John Lewis’s analysis did not only focus on XRP’s futuristic price projection. It also included insight into the disparity between speculation-based and utility-based price predictions.
This insight will provide a comprehensive report of Lewis’s recently released video, especially as it relates to XRP price movements and other XRP-related revelations.
Distinction Between Speculation-Based And Utility-Based Predictions
According to Lewis, the crypto sphere seems to be feeding more on speculations rather than utility, which should not be so. He noted that while utility appears to have an upper hand in terms of projecting crypto asset prices to incredible price highs, they are yet to be embraced as almost all crypto enthusiasts seem driven by speculative predictions and analysis.
While Lewis appeared bent on utility-based price analysis and projections, he did not fail to acknowledge the intricacies associated with it. According to him, utility-based forecasts could require indices or aggregates that are not tenable.
Making a simple analogy to drive his point, the crypto ace remarked that it is beyond statistical collections or data to estimate the number of financial institutions that have adopted XRP.
In light of the above, Lewis concluded that utility-based forecasts can not be solid grounds for formulating exit strategies.
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Human Emotions – Integral Aspects Of Speculative-Based Predictions
Turning towards speculative-driven price movements, Lewis noted that human emotions like fear and greed play significant roles in driving the predictions.
Per Lewis, speculation cycles have existed for about four years and focused on stock market highs rather than Bitcoin having events. He added that tools like the Fibonacci retracement device could go a long way in making speculative-based projections more accurate.
Read Also: Google Bard Predicts When XRP Price Will Hit $5, $20, and $50
Applying his analysis in addition to the Fibonacci scale, Lewis came up with the price levels, which he pegged between $8 and $13. Lewis noted that these price levels will happen in the next speculative rally. He encouraged his viewers to accumulate XRP tokens based on speculative-based projections as the utility-based ones are yet to gain significant ground.
Emphasizing speculative-based predictions, he remarked that his exit strategy will solely depend on speculations rather than utility. He also added that should the $8 to $13 price levels play out, investors should decide how to allocate for short-term profits based on their confidence levels in either a speculative-dependent or utility-dependent market.
At the time of reporting, XRP is worth approximately $0.54. An increase to $8 or $13 would imply 1,381.5% and 2,307.4% increments, respectively.
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