CandleFocus Macro Economist Ponders Whether XRP “Psycho Pump” Could Mark Cycle Top
2024-11-01
Author: Content Editor
Macroeconomist Seth suggests that a potential "psycho pump" in XRP's price could signal the peak of the current crypto market cycle. This idea is based on historical trends where XRP has experienced strong price spikes towards the end of bullish periods. Seth's viewpoint resonates with some, but others argue that similar claims could be made for other altcoins. The case for XRP is largely inspired by the 2016/2017 Bitcoin post-halving bull season, where XRP saw a dramatic surge in price. However, in the current cycle, XRP's peak occurred earlier in April 2021 and it did not benefit from the recent resurgence in Bitcoin's price. Some attribute this to the SEC lawsuit against Ripple, which began in December 2020.
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