Crypto Investor Reveals They Just Accumulated 10,000 Ripple’s XRP Coins: Here’s the Main Reason
Ayman Mufleh revealed in a YouTube video that he just accumulated 10,000 XRP coins. He explained the main reason he bought them, and this was based on the price analysis he explained in the video.
The top analyst spent approximately $4,300 to get the tokens after analyzing the XRP price chart from 2016 using the weekly chart. That gave him a bigger picture of Ripple’s price action.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Read Also: Ethereum Price Set to Rally 50% as Justin Sun Buys $5 Million ETH
The analyst used the RSI indicator to determine if the price is already overbought or oversold. Based on the historical data they got, XRP is highly oversold and below 35; it was even previously below 33, which is the only time in history it has been that low.
The analyst is using a strategy that requires buying XRP when it is oversold and selling when it becomes overbought. Thus, the presenter sees the current oversold level as the perfect time to buy, despite the ongoing bearish market.
However, the price may not spike immediately. The presenter sees an incoming consolidation, which can last for a few months. During this period, the price might test the 40-cent range again. To get the most out of this opportunity, investors will have to be patient.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
