Pro-Ripple Lawyer Tags Poor XRP Price Performance As Unnatural, Rally Imminent?
February 24 2024 - 6:10AM
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XRP’s price action for the last three years has been majorly
disappointing, with the crypto yet to turn positive for its
holders. Notably, XRP’s price action for the past three months has
been brutal and needs to catch up when compared to other large
cryptos. Despite this underwhelming price movement, many analysts
haven’t stopped predicting a potential rally for XRP in the coming
months. Particularly, attorney Bill Morgan, who is known for his
bullish stance on XRP, recently took to social media to share his
take on the asset’s lackluster performance, calling it
“unnatural.” Related Reading: Siacoin Balloons To 65% in
Value On Network Upgrades – Details Pro-XRP Lawyer Calls The
Decline ‘Unnatural’ Morgan’s recent observation on XRP goes along
with the wider thought among investors. According to him, XRP’s
performance over the past 90 days has been so unnatural, raising
the question of how this poor performance came to be. This
observation came as a reply to a chart shared by another investor
comparing crypto gains. At least XRP isn’t last. The question
is why has the performance over 90 days been so poor. It is
unnatural. https://t.co/hsvBBhUBJQ — bill morgan (@Belisarius2020)
February 13, 2024 According to the data, XRP is currently on a
17.8% decline in the past 90 days. However, other top
cryptocurrencies like Bitcoin, Chainlink, BNB, and Ethereum have
performed 30% gains in the same timeframe amidst wider crypto
market rallies. The insights made by Morgan have not only shed
light on the underperformance of XRP but have also sparked
discussions among supporters. This says it all….
pic.twitter.com/nLHxbawqDz — MerlinR₳s (@MerlinRas21) February 13,
2024 The general consensus has been of an unnatural price action.
The unnatural in this case has mostly been caused by the legal
tussle between the SEC and XRP’s payment company, Ripple, which has
lingered for the past three years. Although Ripple has made major
headways against the SEC in the past year, the recent price action
indicates that XRP is yet to garner support from institutional and
large investors. Ripple currently trading at $0.54459 on the daily
chart: TradingView.com Reversal Into A Rally? The XRP community
remains optimistic about the digital asset’s future. Many long-term
XRP holders, often called “XRP Army” members, believe the
lackluster price action is temporary and that XRP will rebound
significantly in the coming months. According to Crypto
Rover, a crypto YouTuber, XRP is on the verge of breaking out of a
triangular price action to the upside. His XRP/USD price chart
indicates the formation of lower highs and higher lows for the past
three years and is now at a squeeze. Morgan also relayed optimism
to the analysis, stating “Now or never!” $XRP It has been 3 years
now… But I do believe the breakout can be massive!
pic.twitter.com/lUZNTvzQNc — Crypto Rover (@rovercrc) February 12,
2024 At the time of writing, XRP is trading at $0.54, down by 3.50%
in the past seven days. Crypto analyst Dark Defender forecasted a
$0.66 price point and beyond in the coming months. Talks continue
to linger around the potential of a spot XRP ETF. Now or never!👍
https://t.co/rxPTBpdFSf — bill morgan (@Belisarius2020) February
12, 2024 Related Reading: Ethereum Bullish Run: Analyst Eyes $4,500
After ETH Breached $3K Featured image from Adobe Stock, chart from
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