Today, XRP (XRP) is trading below a key support level at $0.26. This has created the impression that it could be headed lower probably to a low of $0.17, which is a year long-term support level. However, for a savvy investor this could be the best time to get into XRP (XRP). That’s because after an entire year of price drops, there is little room left for it to drop any further, when contrasted to the partnerships it has bagged so far. This makes its current price levels a low risk entry, now that most of the optimism for a huge price jump in 2018 in gone.
In all markets, the best time to buy into a good asset is in times of distress. That’s because you get the best prices possible, with a good risk/reward ratio. But what if XRP goes lower, and trends more towards zero? After all, there have been predictions that it could be headed to zero in a few years, right?
Well, all one has to do is look at the problem that XRP is solving, and it will become clear that it is never going to zero. XRP is a tool for banks to send money across borders. So far it is moving quite well in achieving its objectives. SBI Japan has already confirmed that it will be using XRP, and so have several other banks. This alone is confirmation that XRP not going to zero. Outside of banks, several other financial institutions such as Mercury Fx are already using XRP.
Were XRP (XRP) worthless and going to zero, these partnerships would not be there. To put it another way, it is not the third largest cryptocurrency by accident. It’s there because it has value in it, value that will continue to grow as it gains in adoption. In essence, the probability of it holding strong above $0.20 is quite high, and allows smart money to start accumulating. What could follow is an extended range, as volumes dry up before the market rebounds again, in a new bull run.
Besides, markets tend to do the exact opposite of what most traders are expecting. In this case, there is a general expectation that XRP could be headed lower now that it has broken below a key support level. Chances are that it could rebound suddenly and squeeze out the shorts from the market. This has happened several times in the past, and will most likely happen again in the future.
Simply put, XRP (XRP) is now at a critical juncture where those who take the leap of faith to jump in, will reap big rewards. The potential payoff is quite huge as XRP has now bottomed out. Once the market turns bullish, XRP (XRP) could be one of the best performers in the market. Chances of XRP (XRP) breaking above its all-time highs are quite high, especially with SBI opening its doors to the public in Q1 of 2019. It could be the catalyst for an unprecedented long-term bull rally.