Amid the ongoing market turbulence, finance expert Coach JV has suggested that XRP trading below $2 is a blessing.
His comments come as XRP relinquishes the important $2.5 level, with the bears threatening steeper declines to new lows below the $2 support. Notably, the bearish turn of events has been a natural reaction to Bitcoin’s downward pressure, as it flirts with the $100,000 support, now trading for $101,914.
For context, multiple analysts have suggested that an XRP drop below $2 could be imminent as weakness dominates the scene. Income Sharks recently claimed that those who failed to buy XRP under $2 could soon get a chance to do so.
XRP Under $3 is a Blessing
While panic and frustration have spread across the market, Coach JV believes investors should see the downturn as a blessing. With Bitcoin a few legs away from losing the $100,000 support region and XRP already dangerously close to dropping below $2, the finance expert says this presents an opportunity.
“Bitcoin under $100K? XRP at $2? What a blessing,” he said in his recent post. According to him, most market participants would be disappointed should these events occur, and rightfully so.
Notably, if XRP ever drops below $2, investors who bought at the start of August would see their portfolio drop by at least 37%. This means a $100,000 investment would be worth only $63,000 at most. However, instead of looking at the event from this angle, Coach JV chooses to identify a silver lining.
“Most see disappointment; the disciplined see accumulation”
He noted that while most investors could see disappointment due to losses, those who maintain a disciplined mind would see an opportunity to accumulate more tokens.
For context, after the collapse from $3.31 in January 2018, XRP mostly traded within a range of $0.3 and $0.7, giving investors an opportunity to buy more for less.
This opportunity lasted for seven years until the November 2024 rally. Following this run, the opportunity to buy XRP below $1 closed. Now, XRP has continued to trade between $2 and $3, and market experts such as Coach JV believe any dips below $2 would represent a chance to buy more for less.
This sentiment comes from a place of optimism. Specifically, these market commentators remain confident that XRP will recover from the current downturn and soar to impressive heights, with such price action potentially yielding massive returns for investors who bought at the current prices. Nonetheless, this remains speculative with no guarantees.
“This is where the patient become (sic) wealthy,” Coach JV said. According to him, when others who failed to see the vision begin chasing green candles as the rally begins, those who accumulated early would already be sitting on house money.
Notably, this trend occurred during the November 2024 rally, when investors who ignored XRP at $0.5 suddenly entered the market amid the persistent green candles.
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.