Famous XRP commentator Oscar Ramos warns that XRP’s price may never drop below $2, indicating that investors may have permanently missed the chance to acquire the token at that level.
Ramos expressed this view in a 10-minute livestream shared on X. In it, he highlighted the current performance of the broader crypto market, including XRP. During the livestream, Ramos stated that he would like to purchase XRP at discounted prices, specifically around the $2 region.
“I want to buy XRP at $2 again. I want to buy the dip and buy XRP when it crashes or corrects,” he remarked. However, he does not believe investors would have another opportunity to buy XRP below $2 again, following its recent price surge.
Why XRP May Not Drop Below $2
The accompanying chart in the video showed that XRP was changing hands at around $3.5 at the time of the analysis. Following the recent surge in XRP’s price, Ramos suggested that a potential dip below the $2 mark might be a thing of the past.
One major factor supporting his optimism is the recent decline in Bitcoin dominance, which he claims has dropped from 66% to around 60%. Amid this decline, Ramos emphasized that altcoin dominance is on the rise.
Consequently, he said the trend indicates that the “big Altcoin Season” could be around the corner. For context, altcoin season is when the price action of major alternative cryptocurrencies outperforms Bitcoin.
During this time, most tokens record new all-time highs (ATHs). Ramos’s belief in an imminent altcoin season also bolsters his confidence that XRP might never drop below $2.
XRP is Becoming Too Expensive for Most Retail Investors
Meanwhile, several XRP commentators note that retail investors may have missed their chance to buy at lower prices following its rally, which began after the re-election of Donald Trump.
Last month, top XRP pundit Edoardo Farina boldly claimed that 99% of average investors may no longer be able to afford 10,000 XRP, which was valued at $22,300 at the time. He stated that owning a portfolio of 10,000 XRP is a luxury that only a few investors can afford.
Additionally, community pundit Xena noted that it is “insane” that the value of 1,000 XRP has skyrocketed above $3,000, a budget that is out of reach for most investors.
In the meantime, XRP has lost most of its recent gains, plummeting from the $3.50 mark to $3.07 today. At the current price of $3.07, XRP has crashed 12.35% in the past 24 hours and 2.36% over the past week.
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.
