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Crypto

ScamDaddy Shuts Down XRP 300% Daily Move Hopes

Guavy AI Editorial Team
Instruments
XRP
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Industry expert ScamDaddy has pushed back against XRP forecasts predicting a 300% daily move, calling it 'impossible.'

The discussion started after an XRP community member named Seer pointed to the asset's explosive price action in April 2017 as evidence that unusually large candles have occurred before.

XRP has indeed recorded triple-digit daily gains in the past, with CoinMarketCap's data showing a 173.71% increase on April 2, 2017.

However, ScamDaddy believes such an extreme move is not feasible at XRP's current price of around $1.49. To reach a $5.96 value in one day, the asset would need to rise more than 300% and see its market cap surge to nearly $376 billion.

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