JD, known for his audacious market analyses, has linked the current lull in XRP‘s performance to a pre-surge phase similar to the 2017 market cycle. Historical evidence from the broader market structure, particularly the 2017 bull run, appears to support JD’s conclusions.
In September 2016, Bitcoin experienced a significant rise, marking the beginning of a bull market and achieving a 58% increase by December 2016. During the same period, XRP only saw a modest 11% increase.
The start of 2017 brought a price retreat for XRP, with a decline from January to February, while Bitcoin continued its ascent with a further 22% gain.
Reflecting on this period, JD shared a crucial chart revealing that XRP’s price drops coincided with the cryptocurrency trading below its four-year cycle trend.
Some investors did not see the low prices of XRP as an opportunity to enter the market, instead opting to sell their XRP holdings in favor of other cryptocurrencies with more compelling performances.
JD believes that investors who sold their XRP prematurely were merely “foolish money,” driven by impatience and dissatisfaction, missing out on a subsequent explosive surge that led to a 600x increase in XRP’s price, reaching an all-time high of $3.84 in January 2018. JD suggests that this scenario could repeat itself.
Currently, XRP lags noticeably behind other cryptocurrencies like Bitcoin (BTC) and Solana (SOL) since the onset of the latest bull run. Despite some gains since October, XRP’s performance remains lackluster, leading to frustration among investors. JD warns that if this trend continues, the XRP market may see a sell-off similar to that of 2017.