Crypto Investor Reveals They Just Accumulated 10,000 Ripple\'s XRP Coins: Here\'s the Main Reason
- 王林Original
- 2024-07-17 20:49:22751browse
Ayman Mufleh revealed in a YouTube video that he just accumulated 10,000 XRP coins. He explained the main reason he bought them, and this was based on the price analysis he explained in the video.
Popular crypto influencer Ayman Mufleh has just disclosed that he recently acquired 10,000 Ripple (XRP) coins, driven by a price analysis strategy.
According to Mufleh, the purchase was made after analyzing the XRP price chart from 2016 on a weekly time frame, which provided a broader perspective on Ripple’s price action. The analysis was aimed at identifying potential entry and exit points for trading XRP.
The crypto influencer revealed that he used the RSI (Relative Strength Index) indicator to gauge whether the price was already overbought or oversold. Based on the historical data obtained, XRP was found to be highly oversold, even below 35. Notably, the indicator was previously observed below 33, marking the only time in history that XRP has been that oversold.
Mufleh's strategy involves buying XRP when it is oversold and selling it when it becomes overbought. With the current XRP price being oversold, the influencer saw it as the perfect time to buy, despite the ongoing bearish market.
However, Mufleh cautioned viewers that the price may not spike immediately. Instead, he anticipates an upcoming consolidation period, potentially lasting a few months, during which the price might test the 40-cent range again. To fully capitalize on this opportunity, investors will need to exercise patience.
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