ETH - Should You Buy XRP While It's Below $1?
2023-12-14 06:34:00 ET
For one brief moment this summer, it looked like XRP (CRYPTO: XRP) was about to go parabolic. In the span of just 24 hours, XRP doubled in price from $0.47 to $0.95. Immediately, the consensus in the crypto world was that XRP was about to soar past the $1 mark.
However, that never happened. Within a month, XRP had given up all those gains and currently trades for just $0.62. Hope springs eternal, of course, so some investors are now predicting that XRP could rally in 2024. So, should you buy XRP while it's still below $1 in the hopes of participating in this rally?
Admittedly, XRP is up an impressive 85% for the year. That's right on par with the performance of Ethereum (CRYPTO: ETH) , which is up 87% for the year. But it badly lags the performance of crypto leader Bitcoin (CRYPTO: BTC) , which is up 155% for the year. And it is nowhere close to the performance of sizzling altcoin Solana (CRYPTO: SOL) , which is now up 594% for the year.
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Should You Buy XRP While It's Below $1?