Should You Buy XRP at $2?
The good news is that XRP (CRYPTO: XRP) is still up 300% since the U.S. election in November. The bad news is that XRP is down more than 40% since it hit a 52-week high of $3.40 in mid-January. XRP now trades for just $2.Depending on your perspective, that $2 price is either a clear signal to buy the dip, or a red flag warning investors to stay away for now. So which is it?The bear case for XRP actually involves frogs -- more specifically, the boiling frog metaphor. In this metaphor, a frog placed into a pot of boiling water will immediately jump out. However, if the frog is placed into a pot of cool water that is gradually warmed up over time, it won't jump out. By the time the frog realizes it's being boiled alive, it's too late. This metaphor, of course, is often used as a warning for people who fail to recognize gradual, dangerous changes.Continue reading
The good news is that XRP (CRYPTO: XRP) is still up 300% since the U.S. election in November. The bad news is that XRP is down more than 40% since it hit a 52-week high of $3.40 in mid-January. XRP now trades for just $2.
Depending on your perspective, that $2 price is either a clear signal to buy the dip, or a red flag warning investors to stay away for now. So which is it?
The bear case for XRP actually involves frogs -- more specifically, the boiling frog metaphor. In this metaphor, a frog placed into a pot of boiling water will immediately jump out. However, if the frog is placed into a pot of cool water that is gradually warmed up over time, it won't jump out. By the time the frog realizes it's being boiled alive, it's too late. This metaphor, of course, is often used as a warning for people who fail to recognize gradual, dangerous changes.
