A renowned crypto analyst believes now is the best time to buy XRP as the digital asset slipped back to the boring trend.
In the last 24 hours, XRP gained a mere 0.54% growth. This figure puts its cumulative week performance at just 0.95%. Also, its 24-hour trading volume dropped 4%.
Amid the passive movements XRP exhibits in the market, a prominent crypto analyst believes now is the best time to buy XRP.
Time to Buy Back XRP?
In a recent tweet, crypto analyst CoinsKid proclaimed that XRP is back to the boredom trend. To boast his claim, he shared a chart from Google Trends depicting investor interest in the digital asset over time.
— CoinsKid (@Coins_Kid) September 7, 2023
According to the chart, investor interest in XRP has dropped to its previous lowly position before shooting up. The analyst sees the situation as a buying opportunity. The analyst quoted his past tweet, calling the community’s attention to the previous boring trend.
Then he remarked: “Buy XRP when it’s boring, sell when it’s not.” CoinsKid maintains this philosophy by reminding market participants that the XRP is back to boredom.
Meanwhile, CoinsKid is not the only analyst who believes it is the best time to buy XRP. As The Crypto Basic reported, a chartist recently shared that XRP’s six-year price pattern has formed a symmetrical triangle.
For context, a symmetrical triangle in crypto is a technical chart pattern that forms when a coin experiences narrowing price swings, creating converging trendlines. It resembles a triangle with the upper and lower trendlines slanting towards each other, eventually meeting at a point.
According to the chartist, the next target for XRP based on the triangular pattern could be above $100. This view relies on the fact that XRP exhibited a similar noteworthy upsurge in 2014 and 2018.
Moreover, crypto market experts are more convinced about XRP’s bullish potential in the coming bull run, given multiple factors absent as of 2014 and 2018. While Ripple’s expanded business network is one of them, a financial expert recently argued the incoming adoption from leading entities like IMF and World Bank is a stronger bullish factor.