🤔 This week: TSLA Q3 earnings report - is now the right time to buy the EV giant?Explore TSLA Data

Crypto Analyst Says Selling XRP Now Is Unwise, the Bulls Are Set

Published 12/31/2023, 03:48 PM
Updated 12/31/2023, 04:15 PM
Crypto Analyst Says Selling XRP Now Is Unwise, the Bulls Are Set
XRP/USD
-
AVAX/USD
-
SOL/USD
-

  • Ben Armstrong argued that selling XRP is unwise due to perceived underperformance.
  • He dismissed comparing XRP to Solana (SOL) and Avalanche (AVAX).
  • Armstrong claimed XRP’s uptrend would commence in January, urging investors to pack their bags.

In a recent YouTube video, crypto analyst Ben Armstrong argued that selling XRP is unwise due to perceived underperformance. While acknowledging XRP’s historical lackluster trend, he first addressed concerns related to XRP’s failure to sustain its bullish momentum following the victory from the legal dispute.

Armstrong argued that broader market conditions suppressed further gains. Furthermore, he countered critical views about XRP’s failure to engineer a bullish trajectory like other rivals such as Solana (SOL) and Avalanche (AVAX), which have seen more than 100% gains.

He dismissed such comparisons and drew parallels to Ethereum’s delayed ascent in previous cycles. Moreover, he cautioned impatient XRP investors seeking to shift to more promising assets for quick profits. Armstrong stated that those contemplating selling XRP have a lower understanding of market dynamics.

According to Armstrong, potential f…

The post Crypto Analyst Says Selling XRP Now Is Unwise, the Bulls Are Set appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.