Max Schwartzman, a notable crypto commentator and founder of BecauseBitcoin, recently disclosed his latest accumulation of XRP, riding on the confidence of what he observed on XRP charts.
In a post on X on Monday, Schwartzman revealed that he has loaded up on XRP tokens. According to him, this decision came after critically analyzing XRP’s historical charts.
Specifically, the pro-Bitcoin commentator remarked that “never in a million years” would he have thought he would end up buying a large amount of XRP, but acknowledged that “the chart never lies.”
While Schwartzman has not yet shared the specific chart that influenced his decision to accumulate XRP, he has promised to release a technical analysis video on XRP soon.
XRP Pumping, Outperforming the Market
Notably, his post comes when XRP is experiencing renewed optimism, which is reflected in its price performance. Today, XRP is up by 2.78%, outperforming 93 other crypto assets with billion-dollar market caps over the past 24 hours.
This rise is particularly significant as Bitcoin’s recent correction has had a negative impact on the broader altcoin market.
While many assets show losses in daily and weekly timeframes, XRP is maintaining its positive trajectory. Currently trading at $0.5885, it is up 9.25% over the past week.
XRP’s ongoing rally is drawing more attention, even from critics, with Schwartzman joining the accumulation trend, hoping for further price gains soon.
Bitcoin Analyst Targets 8X Profit from XRP
Schwartzman’s bullish stance on XRP has attracted congratulatory messages from community members, particularly the XRP Army. In response to one comment, Schwartzman revealed his mid-term price target for XRP.
Specifically, he noted that he expects XRP to reach $5 by next year. With XRP trading at approximately $0.58 on Monday when he bought in, this implies Schwartzman is aiming for a 762% gain or roughly 8X returns.
See you at $5 next year 🐷🧨
— Max (@MaxBecauseBTC) September 16, 2024
Furthermore, other analysts reacting to Schwartzman’s disclosure agreed that investing in XRP at its current value is a prudent decision, expecting significant upside potential.
One analyst highlighted that he has long considered XRP the “sleeping giant” of the crypto market. Mando CT, another widely followed Bitcoin pundit, commented that XRP could easily rally to $1 or $2, calling it an “easy trade” to net profit.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
