Technology

Pro-XRP Lawyer Deems XRP’s ‘Poor’ Performance ‘Unnatural’, Price To Hit $0.6 Soon? – Crypto News

Published

1 year ago

February 13, 2024

Dripp

In a recent development, pro-XRP lawyer Bill Morgan has raised questions over the cryptocurrency’s sluggish performance in the market. With XRP trailing behind its peers over the last 90 days, Morgan deems the situation “unnatural,” sparking speculation about the crypto’s future trajectory.

Meanwhile, amid this backdrop, analysts and investors alike are pondering whether the crypto will soon witness a resurgence, propelling its price to new heights.

Pro-XRP Lawyer Deems XRP’s Performance ‘Unnatural’

Bill Morgan’s commentary on XRP’s performance has stirred the cryptocurrency community, shedding light on the coin’s recent underperformance. Pointing to a chart shared by an X platform user, Morgan noted the crypto’s position second to last, with a 17.8% decline over the past 90 days.

Meanwhile, he also seemed relieved with the comment that “At least XRP isn’t last”. In addition, Bill Morgan sparked curiosity by sparking a query about why the crypto’s performance has been poor in the last 90 days, deeming it “unnatural”.

However, the user’s comment, “This says it all,” encapsulates the sentiment surrounding XRP’s lackluster performance. However, despite the gloomy outlook, optimism looms on the horizon for crypto market enthusiasts.

With Crypto Rover echoing sentiments of a potential breakout after years of stagnation, confidence in XRP’s prospects seems to be growing. In addition, this optimism coincides with a recent uptick in the crypto’s price, signaling renewed investor interest amid a broader market resurgence.

Source: Crypto Rover, X

Also Read: Spot Ethereum ETF, Unveiling Pros & Cons Ahead Of Anticipated Approval

Whale Activity & Analysts Remain Bullish

Adding fuel to the optimism, recent whale activity in the crypto market has caught the attention of observers, according to WhaleAlert data. An anonymous whale’s acquisition of 200 million XRP, valued at around $106 million, from Binance has fueled speculation and injected fresh optimism into the market. The move hints at renewed confidence among large-scale investors, potentially foreshadowing a bullish trend for the crypto.

Subsequently, further buoying sentiment, top crypto market analyst Dark Defender predicts an imminent surge in XRP’s price trajectory. Breaking through key resistance levels, Dark Defender anticipates XRP’s price to soar to $0.60 in the near term, with a long-term target set at $1.88 and beyond. Notably, this bullish outlook stands in defiance against skeptics, signaling potential growth opportunities for XRP investors.

Meanwhile, as of writing, the XRP price was up 2.46% over the last 24 hours to $0.5291, while its trading volume over the last 24 hours rose 35.46% to $1.01 billion. Notably, the crypto has touched a high of $0.537 and a low of $0.5149 in the last 24 hours.

In addition, the XRP’s relative strength index (RSI) was near 50, suggesting a neutral condition of the crypto. According to CoinGlass data, XRP’s Open Interest (OI) surged 7.05% to $642.91 million, suggesting a bullish sentiment in the market.

Also Read: CoinDCX and Koinex Merge to Propel Crypto Adoption in India