“Dumb Money” Could Miss Out on Next XRP Rise, Explains Top Analyst

In a recent market analysis, a popular crypto analyst reviewed a potential scenario where dumb money" investors might overlook the upcoming XRP upsurge. Drawing parallels to historical trends, the analyst, known for accurate predictions, emphasizes the need for investors to learn from past experiences.

#XRP - I remember 2017 when "Dumb money" capitulated after 4years of "boring emotional" action while other coins

"Dumb money" complained & capitulated missing the 600x gain LOL!

Present pattern looks exactly like 2017. Need more dumb money to complain before LOL! $XRP... pic.twitter.com/tbyckfYA8V

- JD (@jaydee_757) December 26, 2023

XRP Bull Market Analysis

The analyst revisits the 2017 market cycle, where XRP initially underperformed compared to other crypto assets, leading some investors to make premature exits from their XRP holdings.

This category of investors, referred to as dumb money, missed out on substantial gains as XRP later experienced a remarkable price surge.

The asset recorded a 600x increase, reaching an all-time high of $3.31 in January 2018. Citing the current market dynamics, the analyst notes that XRP has been showing signs of underperformance as the broader market signals the beginning of another bull run.

Despite a 20% increase since October, XRP's growth rate trails behind other prominent cryptocurrencies such as Bitcoin (BTC) and Solana (SOL).

A notable development in the market is Solana surpassing XRP in market capitalization, causing dissatisfaction among XRP investors and sparking discussions of potential selloffs.

The analyst noted the similarity between the current sentiment and the conditions preceding the 2017 XRP upsurge. He suggests a potential risk of dumb money" missing out on the forthcoming rally.

While acknowledging an opposing opinion from a Dutch stock trader who doubts the possibility of XRP replicating the 600x rally of 2017, the analyst maintained that learning from history is crucial. While asserting that a 600x projection may be unrealistic, the analyst argues that current technical indicators for XRP hint at a plausible 8 to 10x upsurge during the upcoming rally.

As XRP presently trades at $0.6210, a 10x increase, if realized, could propel the token to $6.21.In the meantime, investors must stay vigilant and consider the broader market context to make informed decisions in anticipation of the potential XRP upswing.

Ripple's Native Coin Transactions Amongst Top Investors

Meanwhile, XRP continues to capture the attention of prominent investors, as evident in a recent report by Whale Alert, an on-chain crypto transaction tracker. On December 27, the crypto space witnessed four notable XRP transactions, according to Whale Alert's report.

The largest transaction involved the transfer of 300 million XRP from Binance to an anonymous wallet address with the distinctive prefix rPz2q. This substantial movement amounted to $185.08 million based on current market prices.

The second major transaction comprised the transfer of 139.37 million XRP between undisclosed wallet addresses. On-chain data indicates that the transfer originated from an anonymous wallet address starting with rPz2q and was directed to another wallet address commencing with rPJ5G.

The third significant transaction observed was the movement of 27.80 million XRP from another anonymous wallet address starting with r4wf7 to the well-known cryptocurrency exchange Bitstamp.

The last transaction included the transfer of 70 million XRP, valued at $43.17 million, from Ripple to an anonymous wallet address. Notably, this series of transactions involving the movement of massive chunks of XRP could mean one thing: XRP remains appealing to top investors despite its stalling price ascent.

The post Dumb Money" Could Miss Out on Next XRP Rise, Explains Top Analyst appeared first on The Tech Report.