One market analyst points out that the rapid exhaustion of XRP price appreciation is one reason for the constant hostility that altcoins are facing.
While XRP has posted impressive gains in certain periods over the past 11 years, many view its inconsistent performance as inconsistent Reasons because of his unpopularity. Amid the ongoing consolidation, analyst IncomeSharks recently discussed why the altcoin is often found under criticism.
Short rallies of XRP
In an analysis this morning, IncomeSharks highlighted XRP’s recurring pattern of short rallies that often lasted four to five weeks before experiencing sharp corrections.
His initial comment appeared on December 3rd, noting that the recent XRP rally had lasted just over four weeks. The rally that began on November 5th saw XRP rise from $0.5031 to a seven-year high of $2.9 on December 3rd. This represented an increase of 476%. However, the uptrend stalled at $2.9and a The retreat followed shortly afterwards.
Until December 9th, XRP had corrected further. At this point, IncomeSharks noted that XRP’s rally had taken place Only barely extended to five weeks, breaking its historical trend of four-week increases.
$XRP – In over 6 years there has only been a rally in the last 4 weeks. This time it only made it 5 weeks. Now we have to see whether there can finally be a rally. Bias believes things will be different this time. pic.twitter.com/qXrQn5LBOU
– IncomeSharks (@IncomeSharks) December 9, 2024
He questioned whether the asset could maintain its momentum, noting that its continued inability to sustain rallies contributed to its negative reputation among long-term investors.
However, XRP’s withdrawal was not an isolated incident…
