Analyst Advises To Stay From Stacking Stagnant Altcoins Like XRP and ADA, Here’s Why

The post Analyst Advises To Stay From Stacking Stagnant Altcoins Like XRP and ADA, Here’s Why appeared first on Coinpedia Fintech News

While many altcoins currently lack clear signs of impending explosive growth, analysts have brought to attention several that are poised to lead the bull run. However, have you considered which altcoins to avoid? Jason Pizzino recently pointed out that Ripple’s XRP and Cardano’s ADA have shown lackluster chart performance. He contrasted their stagnant journey with Bitcoin’s noteworthy performance.

There are few cryptocurrencies that are not leading the recovery at the moment and the first example, according to the analyst, is XRP. He said that XRP has been stagnant for a long time, moving nowhere fast. Such charts are undesirable for any investment journey, whether in stocks or altcoins. He said that one doesn’t want to be in a market that remains stagnant for years, gives a brief burst of energy, and then dies out. 

He explained that holding this kind of investment loses you money due to inflation, even if the price stays steady at 50 cents. Most other altcoins have seen significant gains over the past 12 months, especially in the last six months, whereas XRP has done nothing. 

To provide more context, he pointed out a look at the chart, which has been declining for a year now. Despite attempts to break out, it’s mostly been a pump and a major dump to the downside. He said to avoid such charts at this stage of the cycle.

Another unfortunate example according to him is ADA, which might see some recovery in a future cycle. It might have a run-up from 30 cents to 90 cents, exciting investors. Meanwhile, Bitcoin has already tripled, going from $20,000 to $60,000. ADA hasn’t matched this performance. While it might have a small pump in a fifth wave, it won’t compare to Bitcoin’s gains.