- XRP’s price fluctuated near the $2 level, rising to $2.20 after dipping close to $2.05 this week.
- Experts from a Finder panel mostly recommend holding XRP, with equal advisory votes for buying and selling.
- About 35% of analysts consider XRP fairly priced at present.
- Ruslan Lienkha of YouHodler highlights Ripple‘s fintech involvement as a factor supporting long-term XRP growth.
The digital token XRP, native to the Ripple network, experienced price volatility this week. After nearing $2.05, it rebounded to $2.20 on Wednesday, marking nearly a 9% increase within a day. This has sparked debate among traders regarding whether XRP will stay above or drop below the $2 mark by year-end.
A consensus from cryptocurrency experts surveyed by Finder indicates that 53% advise holding onto XRP tokens due to its potential for further gains. Meanwhile, 24% recommend buying while another 24% suggest selling. Additionally, about 35% believe XRP’s current price fairly reflects its market value, as indicated on relevant price charts.
Ruslan Lienkha, Chief of Markets at YouHodler, supports the hold recommendation for XRP. He points out that Ripple’s success in blending fintech with traditional finance positions the token for a positive long-term trajectory. Lienkha stated,
“The token (XRP) shares several characteristics with a security, given its relatively centralized nature and the fact that the blockchain is managed by Ripple, the company behind it. As a result, some investors may view the token as analogous to equity in a technology firm. Notably, Ripple appears to be an innovative and successful company, which could support the token’s potential for long-term growth.”
XRP operates on a blockchain technology platform that enables fast and low-cost cross-border transactions. The token’s performance continues to attract attention as traders evaluate strategies to buy, hold, or sell based on market conditions.
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