Despite the doubts and challenges around XRP, crypto YouTuber Conor Kenny believes investors should think twice before selling their Ripple (XRP) holdings, especially in the current market climate.
The XRP price is currently trading around $2.32 in the market. The YouTuber noted that many investors find themselves in a cycle of buying high and selling low.
Kenny encourages a more strategic approach to market fluctuations, noting that pullbacks, such as XRP’s price recent 30% drop, are a common occurrence in the crypto world and do not typically signal a crash.
Technical Analysis of XRP Price
From a technical standpoint, he sees potential for a bullish breakout in XRP price. He mentions that the cryptocurrency might retest previous resistance levels before embarking on an upward movement. “It’s forming what could be a bull flag,” he says, suggesting that the conditions are ripe for a potential rally.
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Historical Trends and Predictions
Reflecting on historical trends, Kenny points out that previous bull markets have often been characterized by substantial pullbacks. He advises investors to adopt a contrary mindset: “When others are panic selling, that’s when you should buy.” On the other hand, he suggests that during periods of market euphoria, taking profits gradually is the wiser choice.
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Kenny draws parallels to XRP’s price past performance, particularly referencing breakout-and-retest patterns observed in 2017 and 2021 that preceded substantial price increases. He believes that history may repeat itself, presenting a promising outlook for investors holding XRP in 2025.
