Known for his bold market analyses, JD made a new comment about XRP, linking its current market situation to the low-performance phase it experienced before hitting its all-time high during the 2017 market cycle. When examining the broader market structure, historical evidence might support JD’s conclusions as shown by the 2017 bull market.
XRP Coin Price Commentary
In September 2016, at the beginning of the bull market, Bitcoin hosted a significant increase and saw a noteworthy rise of 58% by December of that year. However, XRP only showed a modest increase of 11% during the same period.
In the first part of 2017, XRP experienced a price decline, with a drop from January to February. Meanwhile, Bitcoin’s price continued to rise, increasing by 22% during the same period.
Looking back at this period, JD shared a significant chart revealing that the price drops in XRP coincided with the time when the cryptocurrency was trading below its four-year cycle.
As another analyst recently pointed out, some investors did not consider the low prices of XRP as an opportunity to enter the market. Instead, they preferred to sell their XRP holdings and explore alternative crypto assets with more attractive performance.
According to JD, the investor community that sold their XRP early were nothing more than “foolish money,” allowing their impatience and dissatisfaction to prevent them from making the best of the situation.
More importantly, these selling investors missed out on the opportunity to profit from the extraordinary rise in the cryptocurrency’s price, which eventually reached a 600x increase. This surge led XRP’s price to its all-time high of $3.84 in January 2018. JD believes this scenario could repeat itself.
In the current market cycle, JD thinks that history will repeat itself, rewarding those who remain resilient and patient in the face of challenges.
What’s Happening with XRP Coin?
Looking at XRP currently, it is noticeably lagging behind other cryptocurrencies like Bitcoin (BTC) and Solana (SOL) since the start of the last bull run, showing low performance.
Since October, XRP has consolidated within a narrow range, and despite a rise above $0.1, its gains have remained below expectations, with Solana (SOL) surpassing it in market value.
This situation has led to significant rumors and a sense of weariness among XRP investors. According to JD, if this trend in prices continues, XRP’s market may see a resurgence of sales similar to what happened in 2017.
