XRP’s lagging performance has raised eyebrows among traders and analysts. Despite Bitcoin’s bullish trend, XRP seems to be struggling, prompting discussions about its future. Experts have analyzed XRP’s current market position, its prolonged consolidation, and alternative options for investors seeking better returns.
XRP’s Struggle Against Bitcoin (BTC)
Jason Pizzino, a crypto analyst, highlighted XRP’s lackluster performance against Bitcoin. In his tweet, he stated, “This [is] an objective sign of a lagging #crypto in a #Bitcoin bull market: $XRP is just 8% away from making a fresh 3-year low vs #BTC.” Pizzino further noted that XRP last made a new low in April 2024, suggesting a concerning trend for the altcoin.
This an objective sign of a lagging #crypto in a #Bitcoin bull market: $XRP is just 8% away from making a fresh 3-year low vs #BTC. The last time it made a new low was in April 2024. The goal is to find #altcoins that are creating HIGHS vs BTC at this stage of the cycle. pic.twitter.com/WMp0c69mPV
— Jason Pizzino (@jasonpizzino) June 4, 2024
Moreover, Pizzino advises investors to focus on altcoins that are creating highs against Bitcoin at this stage of the cycle. This recommendation underscores the importance of selecting assets that outperform in a bull market. His analysis suggests that XRP’s underperformance might continue, urging investors to reconsider their portfolio choices.
XRP’s Price Stagnation
According to CoinGecko’s data, at press time XRP traded at $0.5264. This price represents a 1.41% rise in the last day but a 0.09% dip over the past week. These figures reflect XRP’s struggles to maintain consistent growth, even as other cryptos rally in the bull market.
X user, ragzy 𐤊, expressed sympathy for XRP holders while offering an alternative. He pointed out, “$XRP has been trying to break its 1.618 Fib Level for over 5 years now.” This long-term resistance indicates XRP’s difficulty in surpassing key technical levels, contributing to its stagnation.
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Potential for a Breakout?
Despite the bearish sentiments, some analysts see potential in XRP’s long consolidation phase. Blockchainedbb tweeted, “$XRP has consolidated for more than 700 days. Long consolidations usually break out big and squeeze up.” This perspective suggests that XRP’s extended sideways movement could lead to a significant upward move.
Furthermore, Blockchainedbb advises, “Break out of this range and retouch is a good entry for long term.” This strategy involves waiting for XRP to breach its current range and then buying when it retests that level as support. However, this approach requires patience and a strong belief in XRP’s future potential.
Related: Is Ripple Dead? XRP Price Trades Sideways At $0.5 for Months
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The post Ripple’s XRP Struggle Against Bitcoin (BTC): Is a Breakout on the Horizon or More Stagnation Ahead? appeared first on CaptainAltcoin.