Renowned macro investor Jason Pizzino has issued a bold warning to cryptocurrency investors, advising them not to include XRP in their crypto portfolios. Pizzino points out that, despite the short-term gains, $XRP continues to face significant challenges above its 2017 high of $3.40.
A Clear Warning on XRP
According to Pizzino’s analysis, XRP faces a big challenge, seeking to make a ridiculous 2600% return to break even against Bitcoin’s 2017 peak.
Pizzino pointed out that XRP managed a 500% gain in the previous cycle but is now vulnerable to falling to the bottom of the overall SEC lawsuit, with only 30% available.
Pizzino’s caution goes beyond just the statistics. He then also points out that discussions about XRP can distract more audiences from an ongoing project, likely overlooking the inherent dangers.
Backed by data, charts, and facts, Pizzino leaves the decision up to individual investors, urging them to carefully assess the risks associated with holding $XRP in their portfolios.
$XRP’s Struggle Since 2018
Examining a long-term view, Pizzino drew attention to the fact that many folks who invested in XRP since 2018 have faced a negative return after 6 years.
Meanwhile, in a taunting tone, Pizzino stated that, presently, the overall performance of XRP holders is worse than that of Bitcoin critic Peter Schiff.
Although XRP may additionally see upward movements at some point in bull markets, Pizzino signifies that this holds for Bitcoin and various altcoins as well.
Pizzino’s Cautionary Advice
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
Currently, XRP is trading at $0.62 after a decrease of 0.40% in the last 24 hours. Although the current XRP price is trading sideways as it reached its 2024 peak on March 5th.
Meanwhile, closing the daily candle above the $0.6293, 78.6% Fibonacci retracement level could invalidate the bearish thesis for XRP. The next major resistance is the high in 2024 at $0.6685.
