Renowned macro investor Jason Pizzino is sounding a clear warning to cryptocurrency investors, advising against including XRP in their portfolios. Despite short-term gains, $XRP grapples with significant challenges, notably struggling to surpass its 2017 high of $3.40.
Is XRP a risky bet for your crypto portfolio? Read on to find out.
Struggling to Break Even
Pizzino’s analysis reveals a daunting task for XRP, requiring a substantial 2600% return to match Bitcoin’s 2017 peak. While XRP saw a 500% gain in the previous cycle, it now faces vulnerability, tethered to the overall SEC lawsuit, with only 30% remaining available.
Pizzino doesn’t stop at statistics; he points out that discussions about XRP can distract audiences from other promising projects, potentially overlooking inherent dangers. It’s a call for a broader perspective.
Armed with data, charts, and facts, Pizzino leaves the decision to individual investors, urging a careful assessment of the risks tied to holding $XRP.
Also Read: Bitcoin Ethereum And XRP Price Prediction For Coming Week!
Six-Year Setback: A Long-Term View
Pizzino draws attention to the sobering fact that many who invested in XRP since 2018 have faced a negative return after six years. It’s a reality check, prompting caution.
In a taunting tone, Pizzino compares XRP holders’ performance unfavorably to Bitcoin critic Peter Schiff.
Pizzino asserts that XRP’s challenges are not exclusive; similar dynamics apply to Bitcoin and various altcoins during bull markets. It’s not just a warning about one cryptocurrency; it’s a call to understand the broader market.
This eye-opening analysis highlights the challenges and risks associated with holding $XRP, prompting Pizzino to advise investors to exercise caution and explore alternative options for building a more stable and potentially profitable cryptocurrency portfolio.
XRP Price Action
Presently, XRP is trading at $0.62, with a slight 0.40% decrease in the last 24 hours. Despite reaching its 2024 peak on March 5th, Pizzino hints that closing above the $0.6293, 78.6% Fibonacci retracement level could challenge the bearish outlook. The next significant hurdle is the 2024 high at $0.6685.
Read More: Will XRP Hit $1 This Year? Experts Predict Price Jump Post Ripple’s Legal Win
Has this analysis changed your perspective on XRP? We want to hear from you!
