Financial expert, Linda Jones, emphasizes the importance of recognizing the opportunity presented by the recent dip in XRP’s price, urging investors to consider acquiring the coin at a discounted rate.
Seeing the Silver Lining in the XRP Dip
In the wake of yesterday’s market slump, XRP, the fifth-largest cryptocurrency by market capitalization, experienced a significant drop. According to CoinGecko data, the price of XRP hit a 24-hour low of $0.476.
As of now, XRP is changing hands at the $0.50 level, reflecting about a 1% increase over the past day. While many investors face substantial losses due to this downward trend, Jones believes that this dip might just be a hidden blessing in disguise.
Read Also: Ripple CTO: Digital Currencies Like XRP Could Challenge US Dollar as World Reserve Currency
Taking to social media on the 19th of August, Jones addressed the concerns surrounding XRP’s price, explaining that it is crucial to differentiate between price and value. For the seasoned analyst, the price represents the cost of an asset, while its value extends beyond the mere amount paid for it.
You can focus on price or you can focus on value.
Price is what you pay for something.
Value is how much it’s worth, beyond what you paid for it.
Smart people look for value, recognize opportunity and take advantage of it. #xrp pic.twitter.com/kqp2p65okw— Linda P. Jones (@LindaPJones) August 18, 2023
Jones asserts that astute investors recognize the true value of an asset, identify potential opportunities, and leverage them accordingly. With regard to XRP, she suggests that investors seize the chance presented by the current dip in price and acquire XRP at a discounted rate.
Favorable XRP Forecasts by Jones
In a recent declaration, Jones stated that institutional investors and corporate clients would contribute to a surge in XRP’s price. She cited legal clarity as a driving force behind institutional adoption within the cryptocurrency sphere.
It is notable that XRP recently obtained clarity in the SEC v. Ripple lawsuit. In an unprecedented ruling, Judge Torres declared XRP a digital asset, contradicting the SEC’s assertion that it functioned as a security.
While the court’s non-security classification bodes well for the cryptocurrency’s institutional adoption, Jones believes that legislative frameworks tailored to cryptocurrencies must be enacted by Congress.
Earlier this week, Jones highlighted XRP’s discounted price of $0.60 and encouraged investors to seize the opportunity to “scoop” up the coin. Despite acknowledging the possibility of further price decreases, she maintains her optimism that the coin will experience significant growth in the coming years.
Read Also: Ripple CLO Shares Document That Highlights How The SEC Tagged XRP as a Security
Why is the XRP price dipping?
The XRP price has been dipping in recent weeks, along with the rest of the cryptocurrency market. There are a number of factors that could be contributing to the price decline, including:
The ongoing bear market: The cryptocurrency market has been in a bear market since early 2022, and XRP has been following the trend. A bear market is a period of sustained price decline, and it can last for months or years.
The SEC v. Ripple lawsuit: The SEC is suing Ripple Labs, the company that created XRP, for selling unregistered securities. The lawsuit has been ongoing for over 2 years, and it has created uncertainty in the XRP market.
Concerns about the environmental impact of cryptocurrencies: Some people are concerned about the environmental impact of cryptocurrencies, such as the amount of energy that is required to mine them. This has led to some investors avoiding cryptocurrencies altogether.
Despite the recent price dip, there are still some reasons to be bullish on XRP. The cryptocurrency has a number of real-world applications, such as cross-border payments and remittances. It is also backed by a strong team of developers and a large community of supporters.
If the bear market ends and the SEC lawsuit is resolved favorably for Ripple, XRP could rebound in the coming months and years. However, it is important to remember that cryptocurrencies are a risky investment, and there is no guarantee that XRP will ever reach its previous highs.
Overall, the future of XRP in terms of price is uncertain. There are a number of factors that could contribute to the price dipping in the future, but there are also some reasons to be bullish on the cryptocurrency. Investors should do their own research before investing in XRP or any other cryptocurrency.
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