For the past few weeks, investors have been experiencing various lower lows in a declining trendline. However, these low prices could mean a potential buying opportunity for traders to earn quick profits on their purchases.
Traders expect XRP prices to retest once more between the $0.56 and $0.63, providing investors the opportunity to buy these assets at a discounted price.
The main challenge for these investors is accumulating the number of people who can bring XRP upwards. Since January 27, people interacting with XRP significantly decreased to 92,228, showing that fewer people are interested in the current price of the currency.
However, a potential buying opportunity can see prices break, potentially bringing XRP prices at least 35% higher than their original position.
Other analysts claim that XRP is experiencing lesser volatility over the other digital currencies in the market. Lesser volatility protects investors and traders from potential price movements compared to other cryptocurrencies.
Since February 28, 2022, 7:04 PM ET, XRP experienced a 10% gain, increasing investors’ optimism for the coin’s performance.
XRP saw a rise in value throughout the day, rising at least 11.18% in the volume of XRP traded.
Nevertheless, XRP still has a long way to go to make up for the 76.04% decrease from its all-time high last January 4, 2018. However, value investors can see this decrease in price as an opportunity to hop on the current trend to hopefully gain profits when XRP reaches that desired level.