THE PROS AND CONS OF XRP: NEW CRYPTOCURRENCY LURES INVESTORS WITH THE POSSIBILITY OF TENFOLD PROFITS
The crypto industry has experienced high volatility in 2023, with top coins having mixed fortunes. This has left investors scrambling for top crypto coins to buy. Should investors allocate their capital to XRP (XRP) after Deribit announced on October 9 that it would list options tied to XRP? Or should investors turn to the allure of VC Spectra (SPCT), which raised $2.4 million during its private seed sale?
Let’s explore the potential of XRP and SPCT to unveil the best cryptocurrency to invest in.
Summary
- Investors are looking at XRP and SPCT for the best cryptos to buy now.
- XRP is set to trade between $0.48 and $0.52 until the end of the year.
- Forecasts show SPCT will surge at least 10-fold during the ongoing public presale.
XRP Price Prediction Amid Deribit Listing
Deribit, the world’s largest options exchange by trading volume and open interest, announced on October 9 that it will list XRP options products. The exchange is targeting to launch options trading for XRP and other altcoins in January 2024.
Yet, despite the positive news, XRP is down 0.74% after its price fell from $0.5003 on October 9 to $0.4966 on October 16. This XRP crypto price action may not be what analysts expected, as the launch of XRP options trading should have boosted liquidity.
Naturally, this has caused investors to weigh the pros and cons of XRP as they deliberate on adding the digital asset to their portfolios.
One major advantage of XRP is that it partially won a landmark case against the U.S. Securities and Exchange Commission (SEC) in July. This makes XRP attractive to institutional buyers who need regulatory clarity before investing in any digital currency. But does this make XRP a good crypto to buy?
On the other hand, XRP has failed to hold onto its significant gains this year. In addition, analysts expected XRP to pump after the Deribit news, but the XRP crypto price stayed flat.
Considering these facts, we come to the XRP price prediction. Analysts claim that all the bullish narratives for XRP are gone. This leaves XRP range-bound between $0.48 and $0.52 until 2023 ends.
