The post XRP Expert Encourages Skepticism, Warns of Uncertainty in XRPL’s Future appeared first on Coinpedia Fintech News
Noted XRP analyst and well-known community figure, WrathofKahneman, recently made a plea to investors to exercise prudence when considering future forecasts for XRP and the XRP Ledger (XRPL).
Caution Against Exaggerated Expectations
WrathofKahneman’s words highlighted the need for a reality check against expectations that XRP prices will surge dramatically or take over world currency. The advocate insists on the importance of relying on facts, rather than blindly following the so-called “true believers”. While acknowledging the XRPL network’s ambitious goals, he also underscored that its success is far from guaranteed.
PSA: If someone says #XRP won’t explode in price, replace world currency, or there’s no switch to flip, it’s not FUD. Be skeptical about anything you invest it. Be wary of “true believers”; follow facts. XRPL is an ambitious network but success is not guaranteed. #build
— WrathofKahneman
(@WKahneman) June 28, 2023
Amid several reactions to his viewpoint, WrathofKahneman defended his stance. He emphasized that he wasn’t attempting to undermine optimism, but was rather advocating for grounded discussion.
When an enthusiast expressed unwavering confidence in XRP becoming the foundation of the new financial system, WrathofKahneman responded by highlighting the value of diverse viewpoints.
Another user’s comment prompted WrathofKahneman to stress that having a different vision for XRP’s future doesn’t equate to spreading FUD. He reminded investors that it’s crucial to approach risk factually when making substantial investments.
While these debates continue, XRP currently trades at $0.46, down 1.62% over the past 24 hours and 8% over the past week. Recently, XRP fell beneath the 50-day simple moving average (SMA) of $0.48, and bulls’ attempts to push it above this mark were unsuccessful. This trend suggests bearish pressure, as they seek to turn the 50-day SMA into a resistance point.
Negative indicators, such as the downsloping 20-day EMA and the bearish RSI, hint that XRP may first fall to $0.43 and then potentially to a robust support level at $0.40. However, this bearish outlook could be proven wrong if the price begins to rise from its current level and breaches the 20-day EMA. This could pave the way for a potential rally up to $0.55 and potentially even $0.59.
