Rally

2024

when

XRP’s <a href="https://bitcoinist.com/ripple-cto-explains-what-drives-xrp-price/" target="_blank" rel="noopener noreferrer nofollow">price action</a> 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 <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-will-rally-to-2/" target="_blank" rel="noopener noreferrer nofollow">potential rally</a> 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.”&nbsp;
<h2 id="b-pro-xrp-lawyer-calls-the-decline-unnatural-b">Pro-XRP Lawyer Calls The Decline ‘Unnatural’</h2>
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 <a href="https://x.com/Belisarius2020/status/1757333849573560655?s=20" target="_blank" rel="noopener noreferrer nofollow">has been so unnatural</a>, raising the question of how this poor performance came to be. This observation came as a reply to a <a href="https://x.com/MerlinRas21/status/1757331813050028376?s=20" target="_blank" rel="noopener noreferrer nofollow">chart shared</a> by another investor comparing crypto gains.&nbsp;
<blockquote class="twitter-tweet">
 At least XRP isn’t last. The question is why has the performance over 90 days been so poor. It is unnatural. <a href="https://t.co/hsvBBhUBJQ" target="_blank" rel="noopener noreferrer nofollow">https://t.co/hsvBBhUBJQ</a>
 — bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1757333849573560655?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 13, 2024</a>
</blockquote>
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.
<blockquote class="twitter-tweet">
 This says it all…. <a href="https://t.co/nLHxbawqDz" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/nLHxbawqDz</a>
 — MerlinR₳s (@MerlinRas21) <a href="https://twitter.com/MerlinRas21/status/1757331813050028376?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 13, 2024</a>
</blockquote>
The general consensus has been of an unnatural price action. The unnatural in this case has mostly been caused by the <a href="https://bitcoinist.com/xrp-lawsuit-ripple-sec-settlement-rumors/" target="_blank" rel="noopener noreferrer nofollow">legal tussle</a> between the SEC and XRP’s payment company, Ripple, <a href="https://bitcoinist.com/xrp-lawsuit-sec-files-new-demands-ripple/" target="_blank" rel="noopener noreferrer nofollow">which has lingered</a> for the past three years. Although Ripple has <a href="https://bitcoinist.com/ripple-sec-xrp-crypto-securities/" target="_blank" rel="noopener noreferrer nofollow">made major headways</a> against the SEC in the past year, the recent price action indicates that XRP is yet to garner support from institutional and large investors.
<h2 id="b-reversal-into-a-rally-b">Reversal Into A Rally?</h2>
The XRP <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-prediction-increase-0-535/" target="_blank" rel="noopener noreferrer nofollow">community remains optimistic</a> 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.&nbsp;
<a href="https://x.com/rovercrc/status/1757006887655191040?s=20" target="_blank" rel="noopener noreferrer nofollow">According </a>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 <a href="https://x.com/Belisarius2020/status/1757174752442232863?s=20" target="_blank" rel="noopener noreferrer nofollow">relayed optimism</a> to the analysis, stating “Now or never!”
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a>
 It has been 3 years now…
 But I do believe the breakout can be massive! <a href="https://t.co/lUZNTvzQNc" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/lUZNTvzQNc</a>
 — Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1757006887655191040?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 12, 2024</a>
</blockquote>
At the time of writing, XRP is trading at $0.54, down by 3.50% in the past seven days. Crypto analyst Dark Defender <a href="https://www.newsbtc.com/analysis/xrp/crypto-analysts-bullish-xrp-price/" target="_blank" rel="noopener noreferrer nofollow">forecasted a $0.66</a> price point and beyond in the coming months. Talks <a href="https://bitcoinist.com/xrp-etf-debate-ripple-ceo-garlinghouse-weighs-in/" target="_blank" rel="noopener noreferrer nofollow">continue to linger</a> around the potential of a spot XRP ETF.
<blockquote class="twitter-tweet">
 Now or never!<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f44d.png" alt="👍" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/rxPTBpdFSf" target="_blank" rel="noopener noreferrer nofollow">https://t.co/rxPTBpdFSf</a>
 — bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1757174752442232863?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 12, 2024</a>
</blockquote>
Featured image from Adobe Stock, chart from TradingView

Pro-Ripple Lawyer Tags Poor XRP Price Performance As Unnatural, Rally Imminent?

Table of Contents

NewsBTC

Other articles published on Feb 24, 2024

Uniswap’s UNI Token Surges with a 55% Increase

Investor Who Made Millions With Dogecoin (DOGE) Bites At Pullix (PLX) Presale

Analyst Forecasts $40 Target For Chainlink (LINK)

Uniswap Analyst Predicts Further UNI Surge After Calling the Ongoing 70% Spike: Reveals His Price...

Moonlighter: A Charming Indie Gem Inspired by Stardew Valley

Solana Fees Up by 2,800% in Six Months, Data Says

Join our free newsletter for daily crypto updates!