The cryptomarkt is known for wild price movements and daring predictions. Yet one statement from a well -known enthusiast attracted extra attention. According to Crypto-investor Bale, XRP will soon set up the largest green candle in the history of Crypto. A daring claim, but can that actually happen?
Bale predicts record rise for XRP
On social media, Bale wrote that XRP “Hand-Down is going to print the largest green candle ever”. With his message he placed an image of a huge green candle. He left exactly how that predicted jump would come about. In the meantime, XRP has again dropped under the symbolic limit of 3 dollars. At the time of writing, the currency notes 2.99 dollars, a fall of 1.4 percent in the last 24 hours.
Doubt about retail investors and institutional money
Some community members reacted reluctantly to Bale’s prediction. Vincent states that such a price jump with current retail investors is simply unfeasible. “It doesn’t happen without institutional money and long -term purchasing pressure,” he writes. According to him, small investors sell too fast, creating a pattern of “Penny Flipping” that gets the speed from the market.
Another sound came from X Finance Bull, who adopted a more wait -and -see attitude. “Let’s see how the Fundamentals develop, Price follows conviction,” he said. He thereby points to factors such as use, adoption and the structure of the market structure.
Communitylid GC tackles it more philosophical. He states that two green candles are needed to achieve real historical profit. “Liquidity plus market is price. Without no Moonshot.” He compared the waiting for the right conditions to ripen wine: Patience is essential according to him.
Institutional capital can herald new phase
Whether this green candle will become reality is questionable. The very first XRP ETF will appear on the American stock exchange this week. Such an ETF is a listed fund that follows the course of a coin, so that investors can participate without holding XRP themselves. The structure of this specific fund is somewhat debatable, but can still ensure a new stream of liquidity towards the coin.
In addition to the launch of the first fund, there are seven other applications for XRP ETFs, which must be assessed by the end of October at the latest. Among the applicants are asset managers such as Grayscale, Bitwise and 21Shares. A possible approval can considerably increase access to XRP for institutional investors and possibly open a new chapter for the coin.
Source: https://newsbit.nl/analist-xrp-zal-de-grootste-groene-candle-in-de-geschiedenis-laten-zien/
