I keep telling you that XRP (CRYPTO: XRP) looks overpriced. As of Sept. 1, the cryptocurrency that powers the RippleNet international payment system is up nearly 400% over the last year. Sure, I believe in XRP’s long-term business prospects, but the digital coin has simply skyrocketed way too fast.
So I’m waiting for a price cut, which would let me buy XRP coins with a straight face again. Will that opportunity open up in September? I don’t think so, but let’s take a look.
XRP’s chart soared from roughly $0.50 to more than $2.50 per coin in November 2024. Since then, it has bounced back and forth between $2.00 and $3.50.