Analyst Spots XRP Potential for 650x Returns, Revealing 5.5-Year Capitulation

A technical analyst has noticed similarities between the current status of XRP and the market trends seen in 2017, suggesting the potential for a remarkable 650x return. The analyst, known as “JD,” has warned XRP investors against panic-selling and urged them to remain rational during these market conditions. JD recalled how some investors, dubbed “Dumb Money,” hastily exited the market during a 60% crash in 2017, consequently missing out on a 65,000% gain. JD believes that the same emotional behavior is now happening within the XRP market. JD referenced a chart showing a four-year capitulation period for XRP, followed by a massive breakout and parabolic surge that led to an all-time high in 2018. During this four-year period, XRP traded as low as $0.005589 in February 2017 but surged by at least 650 times within eleven months, reaching the $3 range. JD has identified a similarly prolonged capitulation period in the current XRP market, thus suggesting the potential for a 650x gain. JD advised XRP holders to resist emotional impulses and not to panic-sell. Instead, he recommended taking profits when the asset becomes overbought. JD’s views align with other technical analysts who have also predicted an impending bullish breakout for XRP. However, some experts have criticized the use of historical charts in predicting future value, arguing that a lack of utility chart makes such forecasts unreliable.