Notable community commentator “CryptoTank” has warned that XRP may not trade below $1 again, arguing that “big things” are on the horizon.
CryptoTank conveyed this sentiment in a post on X today, encouraging market participants to continue accumulating more XRP tokens. He based his bullish outlook on key upcoming events around the payment firm Ripple.
First, he pointed out that Ripple’s chairman, Chris Larsen, and CEO, Brad Garlinghouse, will be speaking at a Federal Reserve meeting on Tuesday, October 22.
As Crypto Eri, a respected figure in the community, previously disclosed, the Ripple executives will feature at the 8th Annual Fintech Conference hosted by the Federal Reserve Bank of Philadelphia.
This two-day event brings together financial experts from various backgrounds to deliberate on emerging issues in fintech.
The conference is co-hosted by the School of International and Public Affairs at Columbia University, the University of Cambridge, the Wharton School of the University of Pennsylvania, and the Brookings Institution.
Call to Buy XRP While It’s Still Under $1
In light of this, CryptoTank speculated that significant developments for XRP are on the horizon. He encouraged enthusiasts to buy XRP while still under $1, suggesting that such a low price may not be available much longer.
At press time, XRP is trading at $0.5476. The altcoin has been trading below $1 for approximately three years, since December 2021.
Many commentators agree with CryptoTank’s optimistic perspective that XRP’s days under $1 are numbered, given the current state of adoption.
Commenter Roger Metzger remarked that with XRP’s non-security status established, institutions have the clarity to engage with the altcoin, suggesting it is set for an uptrend.
Another commenter stated that low XRP prices are a godsend. He noted that they have allowed him to gradually increase his holdings from business profits without needing loans.
Other crucial developments influencing the bullish perspective for XRP include Ripple’s RLUSD stablecoin, which is expected to bring more liquidity to the XRP ecosystem. Another factor is the forthcoming launch of exchange-traded funds (ETFs) investing in XRP.
Skeptics React
While proponents expect the alignment of these developments to trigger increased demand for XRP and potentially initiate a bull run, some market participants remain skeptical.
One commenter even suggested that XRP will remain under $1 next year. This is largely because past crucial events have not significantly driven higher valuations for the asset.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
