The founder of Dizer Capital, Yassin Mobarak, recently revealed why crypto investors should not miss out on investing in XRP despite its unimpressive price action so far. The crypto analyst made this revelation while also acknowledging how difficult it is to hold the crypto token for now.
The XRP Rally Will Be Massive
Mobarak suggested in an X (formerly Twitter) post that XRP’s rally will be massive while stating that the crypto token is one that crypto investors do not want to be caught lacking exposure to when it skyrockets. Until when the parabolic rally occurs, the crypto analyst admitted that holding XRP can be “painful, boring, and utterly demoralizing.”
Related Reading: Shiba Inu Community Readies For Critical Upgrade By End Of 2024
Indeed, XRP’s price action has so far made it painful for many investors to hold onto it. The crypto token has yet to record any gains this year, although that could change soon enough, with XRP currently boasting a year-to-date (YTD) loss of just 2%. There have been high expectations for the crypto token, especially since Judge Analisa Torres declared it wasn’t a security measure last year.
XRP investors had hoped that the ruling last year would have been enough to send XRP above $1, but that didn’t eventually happen. The most recent ruling, which brought an end to the case between Ripple and the US Securities and Exchange Commission (SEC), again raised expectations as it had been projected to be a potential catalyst that could send XRP above $1.
However, that has again failed to happen so far, with XRP still struggling to break the $0.6 resistance. It remains to see if that could change when the broader crypto market, led by Bitcoin, picks up again following the current downtrend.
Interestingly, Mobarak admitted to a ‘love/hate relationship’ with XRP due to its unimpressive price action. The crypto analyst had previously called Ripple out over XRP’s suppressed growth and claimed that XRP holders were sold a “dream that may never come true.”
Better To Avoid Old Coins?
Mobarak’s recent bullish statement on XRP followed a warning by Raoul Pal, the CEO of crypto firm Real Vision, who warned that it was better to avoid old coins like XRP. The crypto founder advised crypto investors not to miss the bull market by sticking to narratives like XRP, which is from about two bull markets ago.
Related Reading: The Calm Before The Surge: Analyst Says This Is Not The Time To Exit Bitcoin
The Real Vision CEO also had words for members of the XRP community, stating that they are doing themselves “a disservice by being in a cult.” He added that crypto natives are in the market to make money and not be in a cult. Meanwhile, Raoul Pal suggested that the only people likely to make money from a coin like XRP are those at the top, like Ripple’s CEO Brad Garlinghouse.
At the time of writing, XRP is trading at around $0.6, up in the last 24 hours, according to data from CoinMarketCap.
Bulls struggle to hold support at $0.6 | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
The founder of Dizer Capital, Yassin Mobarak, recently revealed why crypto investors should not miss out on investing in XRP despite its unimpressive price action so far. The crypto analyst made this revelation while also acknowledging how difficult it is to hold the crypto token for now.
The XRP Rally Will Be Massive
Mobarak suggested in an X (formerly Twitter) post that XRP’s rally will be massive while stating that the crypto token is one that crypto investors do not want to be caught lacking exposure to when it skyrockets. Until when the parabolic rally occurs, the crypto analyst admitted that holding XRP can be “painful, boring, and utterly demoralizing.”
Related Reading: Shiba Inu Community Readies For Critical Upgrade By End Of 2024
Indeed, XRP’s price action has so far made it painful for many investors to hold onto it. The crypto token has yet to record any gains this year, although that could change soon enough, with XRP currently boasting a year-to-date (YTD) loss of just 2%. There have been high expectations for the crypto token, especially since Judge Analisa Torres declared it wasn’t a security measure last year.
XRP investors had hoped that the ruling last year would have been enough to send XRP above $1, but that didn’t eventually happen. The most recent ruling, which brought an end to the case between Ripple and the US Securities and Exchange Commission (SEC), again raised expectations as it had been projected to be a potential catalyst that could send XRP above $1.
However, that has again failed to happen so far, with XRP still struggling to break the $0.6 resistance. It remains to see if that could change when the broader crypto market, led by Bitcoin, picks up again following the current downtrend.
Interestingly, Mobarak admitted to a ‘love/hate relationship’ with XRP due to its unimpressive price action. The crypto analyst had previously called Ripple out over XRP’s suppressed growth and claimed that XRP holders were sold a “dream that may never come true.”
Better To Avoid Old Coins?
Mobarak’s recent bullish statement on XRP followed a warning by Raoul Pal, the CEO of crypto firm Real Vision, who warned that it was better to avoid old coins like XRP. The crypto founder advised crypto investors not to miss the bull market by sticking to narratives like XRP, which is from about two bull markets ago.
Related Reading: The Calm Before The Surge: Analyst Says This Is Not The Time To Exit Bitcoin
The Real Vision CEO also had words for members of the XRP community, stating that they are doing themselves “a disservice by being in a cult.” He added that crypto natives are in the market to make money and not be in a cult. Meanwhile, Raoul Pal suggested that the only people likely to make money from a coin like XRP are those at the top, like Ripple’s CEO Brad Garlinghouse.
At the time of writing, XRP is trading at around $0.6, up in the last 24 hours, according to data from CoinMarketCap.
Bulls struggle to hold support at $0.6 | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
