- Ripple (XRP), currently the fourth largest cryptocurrency in the world, has skyrocketed in a wave backed by WallStreetBets investors, according to CoinMarketCap. XRP, a digital token created by the embattled San Francisco-based Ripple, has added more than 50% to its price in the past 24 hours, following Dogecoin mentioned by Elon Musk.
Ripple (XRP), currently the fourth largest cryptocurrency in the world, has skyrocketed in a wave backed by WallStreetBets investors, according to CoinMarketCap. XRP, a digital token created by the embattled San Francisco-based Ripple, has added more than 50% to its price in the past 24 hours, following Dogecoin mentioned by Elon Musk.
Ripple’s XRP is the second cryptocurrency to skyrocket this week after Dogecoin’s massive rally. Although Bitcoin has been on the rise with Elon Musk doping for a while, it has not been a very sustainable rally.
Members of a Telegram group with more than 100,000 people named XRP as the cryptocurrency to buy. “Focus on XRP,” says a Telegram member. Please buy it and keep it, ”he said.
Traders turned to cryptocurrencies this week after GameStop. Meanwhile, regulators and brokers are trying to calm the crazy market with heavy restrictions.
However, even if XRP rises by more than 50%, traders do not think the cryptocurrency will achieve the short-term gains seen by Dogecoin. However, he thinks he has more time to rise.
Ripple (XRP) review by experts
According to Forbes’ Billy Bambrough report, veteran trader and author of The Crypto Trader, Glen Goodman said, “With Ripple’s future uncertain, buying XRP at these prices is a pure gamble. “The WallStreetBets community can easily raise cryptocurrency much higher, but as soon as they lose interest and move to a different target, the price is sure to drop again,” he said.
According to Forbes, cryptocurrency trader and economist Alex Krüger used the following statements in a speech he gave via Telegram:
“I DO NOT EXPECT THE RISE OF XRP TO BE AS GREAT AS DOGECOIN’S RISE THIS WEEK, BUT IT WILL RESULT IN A DOWNWARD EXPLOSION. THE PRICE MOVEMENT OF XRP IS MORE Difficult BECAUSE IT HAS A MUCH MORE MARKET VALUE THAN DOGECOIN BUT I PREDICT THAT USERS CAN INCREASE THE PRICE UP TO 0.75 – 1.00 USD. ”
Unlike GameStop, Krüger said, “hedge funds do not open short DOGE positions, so those that provide exit liquidity are not liquidated hedge funds, but those who are late to enter the market. How many Doge ‘investors’ will notice that they landed on one of the biggest pump & dump in history? used the expressions.
How many doge stocks "investors" will realize they fell for one of the largest pump & dumps in history?
— Alex Krüger (@krugermacro) January 30, 2021
XRP, which has increased 50% in the last 24 hours, is valued at $ 0.478 at the time of writing.