A popular crypto analyst, identified on Twitter as Crypto Michael, has made the third-largest cryptocurrency by market cap, his choice alternative coin for the next altcoin season, stressing that the digital currency needs time and patience.
The Ripple’s digital token XRP has been hugely criticized over the past months, for its lackluster performance, in terms of price.
Some crypto pundits have blamed the below-par performance on the periodic sales of the cryptocurrency by the cross-border payment giant that oversees its distribution, Ripple, which initiated the recent lawsuit filed against it.
However, some XRP community members still resolutely believe that better days are ahead for the digital currency. While some crypto analysts keep reiterating the prospect of the digital token.
Crypto Michael Says XRP Holdlers Need to Be Patient
Crypto Michael is a well-known crypto analyst and trader in the cryptocurrency ecosystem. Most times, he based his analyses and predictions on short term estimation.
When he recently had the opportunity to make the choice of desired altcoins for the next altcoin season, he chose XRP.
This came about after an analyst and researcher, dubbed “Blackbeard” on Twitter, shared a tweet, asking crypto traders and investors to mention the alternative coins of their choice for the next altcoin season.
“What’s your retirement altcoin for the next altcoin season?” Blackhead asked.
What's your retirement altcoin for the next altcoin season?
— ₿lackbeard (@crypto_blkbeard) May 5, 2020
Crypto Michael chose XRP and said he knows XRP is still down by 50%, but patience matters in its case.
“XRP, I’ve learned that from the master @ChoeTrades. Still down 50%, though, but PATIENCE!”
— Crypto Michaël (@CryptoMichNL) May 5, 2020
XRP and Other Cryptocurrencies in the Market
Virtually all the digital currencies in the market, including Bitcoin (BTC) and XRP, have remained without notable gains or losses over the past hours.
Bitcoin (BTC) has continuously failed to hold a $9,000 support level, while XRP has managed to maintain its position above $0.2, for the next possible price uptrend. At the time of publication, XRP is trading at $0.219639, with a 0.08% price decrease in the last 24 hours.