Holding XRP to $1,000 Requires Strong Conviction, Analyst Suggests
A software developer, Vincent Van Code, sparked discussion by saying holding volatile coins like XRP through extreme price swings requires "serious conviction" and even "mental illness." He highlighted the challenge of holding assets during drastic fluctuations, comparing it to early investors in Bitcoin, which traded under $1 in 2010 but now exceeds $110,000. Many claim they would have held onto Bitcoin, but Van Code argues most would have sold at early highs.
Holder Psychology Under Stress
- Van Code notes the difficulty in holding during downturns, referencing Bitcoin's historical volatility.
- Long-term holders face psychological and financial stress, as illustrated by early whales cashing out significant profits after years.
- The infamous 10,000 BTC pizza purchase exemplifies regrettable early sales.
XRP Near Key Demand Zone
- Crypto analyst Ether Nasyonal suggests XRP is building momentum within a key demand zone, although technical signals are mixed.
- Despite recent volatility, XRP remains below crucial resistance levels at $3, down 14% this month.
- Historically, XRP saw a 90% drop post-2018 peaks, impacting those who panicked.
Long-Term Bets Face Real Tests
- Some holders view their investment as a long-term strategy, enduring multiple crashes.
- Van Code plans not to sell XRP despite high prices, aiming for tangible gains like buying property for his family.
- Projections for XRP reaching $1,000 by 2040 require patience and resilience, with many opting for early profit-taking for immediate goals.
- Sustaining through market cycles demands more than luck; it requires strategic planning and emotional fortitude.
