Renowned Macro Investor Advises Excluding XRP from Your Cryptocurrency Portfolios
Prominent macro investor Jason Pizzino has issued a strong warning to cryptocurrency investors, advising them to steer clear of including XRP in their crypto portfolios. Pizzino highlights the significant challenges that XRP continues to face, despite its short-term gains, particularly in relation to its 2017 high of $3.40.
Pizzino’s analysis reveals that XRP is confronted with a major obstacle, needing to achieve an astronomical 2600% return in order to break even against Bitcoin’s peak in 2017. Due to this, Pizzino asserts that XRP does not belong in a crypto portfolio, even if it experiences a surge in value during this cycle. He emphasizes that XRP managed a 500% gain in the previous cycle, but is now at risk of dipping to the SEC lawsuit low, with only a 30% margin remaining.
However, Pizzino’s caution extends beyond mere statistics. He also highlights that discussions surrounding XRP can divert attention away from ongoing projects, potentially leading to the oversight of inherent dangers. Supported by data, charts, and facts, Pizzino leaves the decision up to individual investors, urging them to carefully evaluate the risks associated with holding XRP in their portfolios.
Taking a long-term perspective, Pizzino draws attention to the fact that investors who have held XRP since 2018 have experienced a negative return after six years. Furthermore, he teasingly remarks that the overall performance of XRP holders is worse than that of Bitcoin critic Peter Schiff. While XRP may witness upward movements during bull markets, Pizzino suggests that this applies to Bitcoin and various altcoins as well.
In light of the challenges and risks associated with holding XRP, Pizzino’s insightful analysis prompts him to advise investors to exercise caution and explore alternative options for constructing a more stable and potentially profitable cryptocurrency portfolio.
As for XRP’s price action, it is currently trading at $0.62, experiencing a 0.40% decrease in the past 24 hours. Despite reaching its peak in 2024 on March 5th, the current XRP price has remained relatively stagnant. However, if XRP manages to close above the $0.6293 level, which represents the 78.6% Fibonacci retracement, it could invalidate the bearish outlook. The next significant resistance lies at the 2024 high of $0.6685.