Pro-Ripple lawyers call XRP price underperformance unnatural, Rebound on the horizon?
The price action of XRP over the past three years has been very disappointing, and the Crypto Assets has yet to have a positive impact on its holders. It's worth noting that compared to other large Crypto Assets, XRP's price action over the past three months has been very brutal and needs to catch up. Despite the lackluster price action, Xu Long analysts did not stop predicting that XRP could rise in the coming months. In particular, lawyer Bill Morgan, known for his bullish stance on XRP, recently shared his thoughts on the asset's underperformance on social media, calling it "unnatural."
Morgan's recent observations on XRP are in line with broader investor thinking. According to him, XRP's performance over the past 90 days has been very unnatural, which raises the question: how did this poor performance come about. This observation is a response to a chart shared by another investor comparing Crypto Assets earnings.
The data shows that XRP is currently down 17.8% over the past 90 days. However, in the broader crypto market Rebound, other top Crypto Assets such as Bitcoin, Chainlink, BNB, and Ethereum rose by 30% over the same time frame. Morgan's insights not only shed light on XRP's poor performance, but also sparked discussion among proponents.
There is a common perception that price movements are unnatural. The unnatural phenomenon in this case is largely caused by a legal dispute between the SEC and XRP payments company Ripple, which has been going on for the past three years. Although Ripple has made significant progress in its fight against the SEC over the past year, recent price action suggests that XRP has yet to gain support from institutional and large investors.
The XRP community remains optimistic about the future of digital assets. Xu Long long-term XRP holders, often referred to as members of the "XRP Legion," believe that the downturn in price action is temporary and that XRP will Rebound significantly in the coming months.
According to Crypto Assets YouTuber Crypto Rover, XRP is on the verge of breaking out of the triangular price action. His XRP/USD price chart shows low highs and high lows that have formed over the past three years and is currently in a squeeze. Morgan also expressed optimism about the analysis, saying that "there is no time to lose!"
XRP is trading at $0.54, down 3.50% in the last 7 days. Crypto Assets analyst Dark Defender predicts that the price will reach $0.66 or even higher in the coming months. Discussions about the potential of Spot XRP ETFs continue.
(Source: Scott Matherson)