Crypto analyst Jason Pizzino is raising red flags for XRP holders, warning that the cryptocurrency has been underperforming for years.
Six Years of Disappointment
Pizzino points out that those who have held onto XRP since 2018 have largely experienced losses. While the coin may see some gains during the current bull market, so will other cryptocurrencies like Bitcoin.
Bearish Outlook
Pizzino’s bearish view is based on the XRP/Bitcoin ratio, which has been trending down. He believes that XRP is at risk of falling below its lows from before Ripple’s lawsuit with the SEC.
“Over 2,600% to Break Even”
“Even if XRP pumps this cycle, it must do over 2,600% to break even against Bitcoin value from the 2017 peak,” Pizzino said. “Last cycle, it managed 500% and is now at risk of breaking the SEC Lawsuit low: just 30% away.”
Influencers and Hype
Pizzino acknowledges that XRP still has a large following, but he cautions against believing in unrealistic price predictions. “The only benefit to influencers talking about XRP is there is still a huge audience that wants to hear about the project and hopeful price projects that never come true,” he said.
Caution Advised
Pizzino emphasizes that the decision to buy or sell XRP is ultimately up to individual investors. However, he urges them to carefully consider the risks and to do their own research before making any decisions.
