- Toray Kortan, a leading crypto analyst, suggests that XRP could potentially reach $100, challenging the relevance of market cap in determining value.
- Kortan advocates for a cautious approach in investing, aligning strategies with whales and warning against expecting overnight riches.
Toray Kortan, a renowned figure in the XRP community and respected for his understanding of market psychology, recently voiced his opinion on XRP’s future trajectory. Contradicting the common belief of an imminent all-time high (ATH) for XRP, he urged investors to exercise caution, rationality, and patience.
I don’t see any reason whatsoever why XRP cannot hit $10 or $100.
Market cap is all bullshit, a fabrication, doesn’t determine any form of value.
However, I can’t see them letting all these people get rich overnight.
It could take a very long time, most will sell.
— T (@TorayKortan) June 14, 2023
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Despite maintaining an optimistic outlook for XRP and the larger crypto market, Kortan urged for prudence. He boldly claimed that there are no barriers preventing XRP from hitting a price point of $10 or even $100, challenging the often-cited relevance of market cap in value determination. The analyst argued that the market cap notion is essentially a construct without any real significance.
The backdrop to Kortan’s prudent stand is The Crypto Basic’s recent report suggesting massive accumulation of XRP following the exposure of Hinman’s email. The report cited a possible 9,600% growth, aligning with Kortan’s vision of XRP’s growth potential. However, he emphasized that this growth wouldn’t make everyone wealthy overnight.
Commenting on the hype around XRP’s rise, Kortan noted,
“I can’t see them letting all these people get rich overnight,”
indicating potential disappointment for those anticipating astronomical returns in a short period.
Echoing the importance of pragmatic investing, Kortan pointed out that investors should not bank on selling before an envisaged peak. He championed an approach of steady growth and well-timed acquisitions rather than chasing a swift 100,000% return on investment. In Kortan’s view, emulating the strategies of the whales, who profit from small, calculated moves rather than inflated price target dreams, is the true path to long-term success.
Answering the question of whether a new ATH for XRP was unlikely, Kortan conceded that it’s not entirely impossible. However, he cautioned investors against expecting a swift, single-candle surge. He theorized that the influx of novice investors since 2021 could result in a significant shakeout before any substantial growth occurs.
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