A crypto analyst has shared his belief that XRP may finally be getting ready for a major comeback after months of steady decline. The prediction comes as Bitcoin has climbed back above $63,000 in early Monday trading hours, helping the broader crypto market start the week on a positive note.
XRP has spent years frustrating its most devoted supporters. The token that once surged to $3.84 during the 2018 bull run and briefly touched $3.60 again earlier this cycle has spent the better part of a decade trading sideways while Bitcoin climbed from thousands to hundreds of thousands.
Peter Schiff, Chief Economist and Global Strategist of Euro Pacific Asset Management, called Strategy Inc.‘s (NASDAQ: MSTR) latest purchase of 1,550 Bitcoin (BTC) for $101 million “damage control” in an X post on Monday, June 8.