Crypto expert Zach Rector advises investors to seize what he believes is the final opportunity to buy XRP below $3.
XRP recently faced significant bearish pressure that caused it not only to lose the $3 mark but also to drop into the $1 price range. Specifically, earlier today, XRP traded as low as $1.77.
While it has since recovered slightly to $2.36 at press time, its 24-hour performance still shows a substantial 15% loss.
Though this performance may discourage holders, analysts like Zach Rector are encouraging market participants to view it as a prime opportunity to buy XRP at a discount.
Final Dip to Buy XRP Below $3
In a recent commentary, Rector drew parallels with previous market behavior. Specifically, he noted that XRP previously dipped below $2 three times before soaring to $3.40.
He believes this recent dip below $3 is the final backtest, creating a prime opportunity for investors to accumulate before a potential surge to new all-time highs.
Specifically, Rector predicts that the next rebound could send XRP to $4, urging accumulation while it remains relatively cheap.
Rector also presented insights into the broader financial scene. He suggested that precious metals like gold and silver are poised for significant growth. In particular, he noted Silver could experience a major rise to $50, driven by factors such as the ongoing trade war.
Meanwhile, he labeled traditional markets like real estate and stocks as overvalued, with unreliable economic data. Rector believes the XRP market offers a brighter future and urges investors not to miss out on the chance to accumulate before the next major move.
Other Analysts Calling for XRP Dip Buying
Notably, other market analysts share Rector’s outlook on the current state of the XRP market. In a tweet, technical analyst Steph reminded XRP holders that the 2017 XRP bull run experienced three “brutal” shakeouts. Yet, according to him, XRP still saw an incredible 110,000% gain.
Steph referenced a historical chart showing that XRP dipped by 24%, 63%, and a more significant 68% between 2017 and 2018 before ultimately reaching an all-time high.
For context, from XRP’s recent peak of $3.40 to its most recent low of $1.775, the asset dropped significantly by 48%. Commenting on this, Steph remarked, “Dips don’t end bull runs; they fuel them.”
In a separate commentary, analyst Michael also recommended accumulating XRP at its current price. According to him, the chances of XRP surpassing Ethereum are now even higher.
“You should aim to accumulate XRP in the coming weeks,” he said.
He further emphasized that XRP remains the altcoin he is most confident in holding this year.
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.
