The XRP price has recently experienced a sharp decline after reaching a local peak of $2.90. This price movement led to an explosive increase in short positions, which, according to experts, offers opportunities for investors who want to respond intelligently to the current crypto market. Crypto analyst Crypto Bitlord emphasizes that this situation creates unique opportunities. In a recent post on X, he shared his advice:
“Buy XRP now before a liquidation of short positions takes place on Friday.”
What does the liquidation of short positions mean for the XRP price?
According to Crypto Bitlord, it is likely that a large number of short positions will be liquidated on Friday. This could have a significant impact on the XRP price. “When it comes to XRP, I’m never wrong,” said Bitlord. He advises investors to take advantage of the low prices now before the price potentially rises sharply.
The analyst explains that the liquidations are forcing short traders to buy back XRP at higher prices. This increased buying pressure can boost the XRP price significantly and provide significant profits for early entrants.
Bitcoin Options and the Impact on XRP
Another major event impacting the crypto market is the record expiration of $14 billion worth of Bitcoin options on the Deribit platform, also on Friday. This is the largest expiration ever and could cause strong volatility within the market.
With a put-call ratio of 0.69, bullish sentiment is expected around Bitcoin. This can also indirectly have a positive effect on the XRP price, as rising Bitcoin often drags other cryptocurrencies such as XRP along with it.
XRP price in 2025: Analyst predicts rise to $40
For the long term, crypto analyst Egrag Crypto expects a lot from XRP. He predicts that the price of XRP could reach $40 by 2025 if key milestones are achieved. The $1.99 limit is seen as crucial by Egrag Crypto. If XRP closes above this line, it would significantly boost investor confidence and could usher in a new phase of growth.
Key factors contributing to the optimistic expectations include:
- Institutional adoption of XRP
- The Possible Approval of a Spot Exchange Traded Fund (ETF)
- Increasing applications of XRP in the financial world
According to Egrag Crypto, these developments could drastically increase the demand for XRP, causing the price to rise further.
Conclusion: Is Now the Time to Buy XRP?
With the current developments surrounding short positions, Bitcoin options and the long-term expectations for XRP, this seems like an interesting time to consider the cryptocurrency. However, keep the volatility in the crypto market in mind and always make informed choices.
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Source: https://newsbit.nl/xrp-koers-waarom-je-voor-vrijdag-moet-kopen-volgens-analist/
