The majority of cryptocurrency analysts from the Finder’s panel have urged investors to ‘hold’ on to their XRP tokens. The advice comes after Ripple’s native token reclaimed the $3 mark after falling to $2.7 last week. Investors who took an entry position to do ‘swing trading’, which Watcher Guru advised last week, have made over 10% profits.
Hold On to XRP, Urge Cryptocurrency Experts
Around 53% of the Finder’s panel experts have urged investors to hold on to XRP for the long term. They cited Ripple’s ever-growing partnerships with several banks and fintech firms as the catalyst for its price run.
Ruslan Lienkha, Chief of Markets for YouHodler, explained that XRP has great future potential. He added that traders who accumulate now and hold on for the long term could be rewarded immensely.
“The token (XRP) shares several characteristics with a security, given its relatively centralized nature and the fact that the blockchain is managed by Ripple, the company behind it. As a result, some investors may view the token as analogous to equity in a technology firm. Notably, Ripple appears to be an innovative and successful company, which could support the token’s potential for long-term growth,” said Lienkha.
Also Read: XRP Was At $0.1 in 2020: What $1000 in XRP is Worth Today?
What’s the Price Target?
The price target for XRP set by the Finder’s panel of experts is $5.25 in 2030. The Ripple’s native token is currently trading at the $3 range on Friday. Therefore, it would be an uptick and return on investment (ROI) of approximately 75% from its current price.
An investment of $1,000 could turn into $1,750 if the forecast turns out to be accurate. That’s stellar returns in five years, as not every financial asset generates this much profit. Nonetheless, the cryptocurrency market is extremely volatile and cuts both ways. It is advised to do thorough research before taking an entry position in XRP.