Market commentator Crypto Bitlord advises market participants to buy XRP now ahead of possible developments expected on Friday.
Accordingly According to him, those who bet against the uptrend of XRP – so-called short sellers – are likely to be liquidated by tomorrow. Bitlord was confident in his prediction and even asked community members to take a screenshot of his bold claim and later check whether it was translated into reality.
“When it comes to XRP, I have never been wrong” he declared proudly. In parallel, he urged market participants to buy XRP now, otherwise they risk missing out on the current low prices.
At press time, XRP is trading at $2.24, a 2.2% discount from the previous day’s higher price. This decline has further deteriorated its weekly performance, recording negative growth of 4.2% over the past seven days.
While Bitlord is confident that a price reversal could occur as soon as tomorrow, he did not provide an explanation for the factors fueling his optimism about XRP’s price performance over the weekend.
However, there is one significant event that could influence market movements: a record $14 billion in Bitcoin options are expiring on Deribit this Friday.
Record expiration of $14 billion in options by bears
This decline, the largest ever in the stock market, has drawn attention for its potential to trigger a market reaction. The put-call ratio for these Bitcoin options is 0.69. This indicates relatively higher open interest in calls, suggesting that the market is positioned for bullish sentiment.
Should Bitcoin experience volatility during this event, it could trigger a similar reaction in XRP, potentially contributing to the price movement Bitlord expects.
