XRP Holders Need Deeper Conviction
A legal expert named Bill Morgan has shared his perspective on the XRP price action. He believes that XRP holders need to have deeper convictions and not be swayed by short-term price movements. Morgan doesn’t read too much into a month’s worth of price action in the crypto market. Despite XRP’s 2% drop over the last month, he remains firm in his belief in its potential.
Morgan’s response was prompted by a post from a YouTube personality known as Moon Lambo, who also discussed XRP’s recent price action. Lambo argued that there was nothing unusual about the decline in XRP’s price, as other coins were experiencing similar drops. However, Lambo’s statement only addressed the 24-hour timeframe, which may not ease the concerns of those worried about XRP’s price.
Narrative Also Matters When Looking At XRP Price Action
Lambo further explained why XRP’s price action shouldn’t be a cause for concern. He pointed out that anyone can shape a narrative about a coin by focusing on specific periods of price data. While many only consider the present decline in XRP’s price, Lambo reminded everyone of its past successes. In the 2017 bull market, XRP surged by 80,000% and even outperformed Bitcoin.
Lambo suggested that XRP holders were overly focused on short-term price movements and not considering the bigger picture. He believes that these short-term fluctuations are not indicative of XRP’s future trajectory. Lambo stated that he isn’t worried about XRP’s price unless Bitcoin reaches a new all-time high and altcoins like XRP don’t follow suit.
Hot Take: The Importance of Long-Term Conviction for XRP Holders
The XRP price action has been a topic of concern among many in the XRP community. However, legal expert Bill Morgan and YouTube personality Moon Lambo offer different perspectives on the matter. Morgan emphasizes the need for deeper convictions among XRP holders and advises against being swayed by short-term price movements. On the other hand, Lambo argues that focusing solely on short-term price declines ignores XRP’s past successes and its potential for future growth.
While it’s natural to be concerned about price fluctuations, it’s important for XRP holders to take a long-term view and consider the overall trajectory of the cryptocurrency market. By maintaining conviction in their investment, XRP holders can weather short-term volatility and potentially benefit from future gains. Ultimately, the decision to hold or sell XRP should be based on individual investment goals and risk tolerance.
Source: NewsBTC
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