Even though Bitcoin’s price has recovered from a low of $38,500, there is not a significant surge in altcoins. XRP Coin, with its increasing circulating supply, is facing considerable price pressure. This also negatively impacts long-term expectations. On the other hand, a popular crypto analyst responded to those claiming “XRP Coin is dying” by sharing a chart.
The Future of XRP Coin
As this article is being prepared, the XRP Coin price is around $0.52 and has not seen its all-time high (ATH) price for years. It didn’t approach it during the 2021 bull run either, and unfortunately, the growing circulating supply suggests it may not reach it in the coming period either. Moreover, the ongoing battle with the SEC and the approaching collective appeal process is worrying investors.
In the midst of all this chaos, popular crypto analyst Nick shared his long-term outlook from his X account, writing;
“XRP is what the crowd is shouting and screaming about. FUD and negativity are increasing day by day. Always remember what I’ve said, ‘the bottom won’t feel like the bottom.’ This is because the general sentiment will convince you it’s dead, you need to move on, etc.
In November 2022, the general opinion was that the snowball effect of FTX would collapse Binance, Coinbase, Cryptocom, and many other exchanges. This was peak fear, peak negativity, all hope was lost, and then what happened in January 2023. The market exploded and completely shut down the bears.
When it comes to XRP, it’s not an easy asset and it never will be. Why? Because of times like these. Well-known names are falling, FUD is filling social media, and everyone has given up on the idea of ever reaching a new ATH.
The chart below is the XRP/BTC price chart. As you can see, it’s basically in freefall. You might be saying, ‘Nick all these other altcoins are rising, while XRP does nothing, they are making X amount of gains!’ The truth about this statement is that there will always be a basket of altcoins moving against your positions and you’ll feel like you’ve chosen the wrong ones. You can’t get caught up in comparing one coin to another in this space, or it will drive you crazy.
Another important point to remember is that even Bitcoin itself has not reached its all-time high. We are still at the beginning of this process and we need to see Bitcoin make a new ATH and when BTC.D reaches the peak, altcoin dominance will rise. I see emotions at the highest levels in the XRPC Community, and to see this at this point in the cycle is crazy. I repeat, NOT EVERYONE WILL MAKE IT and emotions/patience will be the biggest motivation.
Right now, there are many altcoins that aren’t doing much compared to other altcoins, and that’s because of money flowing into certain plays. Just because a project isn’t being pumped the way you think it should be, doesn’t mean it’s a scam, dead, or a crappy coin. BTC.D is still over 50%, and it will continue to rise until BTC reaches a new ATH, and then we’ll look for weakness. That’s when money will flow from Bitcoin to ETH and most altcoins will be pumped hard.
At the end of the day, XRP’s star will shine. Until then, avoid falling into the trap of listening to irrational nonsense fueled by falling price movement expectations.”
Is Nick Right?
Nick approaches this situation with a lot of emotion, and a quote in his own words shows this. In cryptocurrencies, the most dangerous thing is to become overly positive about any altcoin. When this happens, you don’t see the problems, you don’t care about the risks. It’s like marrying that altcoin.
While the circulating supply continues to increase and it’s unclear who will benefit from the SEC case’s collective appeal, expecting such a bullish rise in XRP Coin could be risky.
