Apr 23, 2025 12:05
Crypto analyst 589Bull has asserted that the XRP is dead narrative is a lie. The analyst went further to reveal the truth and explain why market participants should be bullish on the altcoin, despite the current price action. Why XRP Is Not Dead Despite Current Price Action In an X post, 589Bull stated that the idea that XRP is dead is a lie. Instead, he stated that the truth is that the altcoin is being embedded in the next financial system. The crypto analyst further remarked that Ripple is building the rails, digitizing liquidity using XRP, mapping corridors, and bleeding retail so that only institutions, bots, and insiders are positioned. Related Reading: XRP Vs. Bitcoin: Ripple Drops Bombshell On Which One Is Better In line with this, he advised retail investors not to chase hype, or beg for dates, or flinch as the trick isnt timing when the switch flips for XRP. Instead, he believes the trick is surviving the lie long enough to cash out on the truth. Simply put, 589Bull is confident that the altcoin will still experience a massive surge and is therefore advising market participants to hold and not get shaken out. 589Bull also answered the question on why XRP has the most fundamentals in its history and is still down 30% from its 2025 high. He remarked that the answer is simple, as price isnt the truth. Instead, he believes that the price is the trap, possibly to shake out the weak hands before the altcoins surge to new all-time highs (ATHs). The analyst claimed that they are not trying to reward early holders but rather shake them out. He further stated that while retail investors are watching red candles, they are launching futures, likely alluding to the Teucrium XRP ETF, which just launched. 589Bull added that the institutions are also listing international ISINs, onboarding banks to DLT corridors, and filing ETF applications in the background. The analyst asserted that this is a game of perception and that the louder the fear, the quieter the setup. The Clock Is Ticking For The Altcoin In an X post, crypto analyst CasiTrades stated that XRPs setup hasnt changed, but the clock is ticking. She explained that the altcoin remains in the same range, as there havent been any new highs or lows. Related Reading: Over $700 Million In XRP Moved In April, What Are Crypto Whales Up To? However, the analyst noted that the altcoin has attempted a breakout alongside the Bitcoin price but stalled at the 0.618 retracement level, which is a common level for exhaustion. She added that the rejection came fast, and now the momentum is pulling XRP back to support. Meanwhile, CasiTrades also asserted that nothing about the bigger picture has changed. She stated that the current price action reinforces her belief that XRP will need to sweep major support levels, such as $1.90 and $1.55, before it is ready to break out. The analyst added that this should not continue to drag on as momentum in crypto shifts very quickly. At the time of writing, the XRP price is trading at around $2.07, down almost 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pixabay, chart from Tradingview.com
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