Crypto Analyst Cyclop Calls XRP Overvalued and Doomed

A famous crypto analyst on X tells investors to avoid XRP. The analyst, Cyclop (@nobrainflip), has over 500,000 followers. He recently shared a list of coins he thinks are “doomed” and won’t grow.

XRP, the token linked to Ripple, is at the top of this list. Cyclop points out a harsh truth: if you put $10,000 into XRP in September 2018, you’d have the same amount today. He calls XRP an “unnecessary fork” of Bitcoin worth more than it should be.

According to CoinGecko, XRP trades at $0.5827 right now. Although its price has recently increased, it’s still 83% below its highest point from January 2018.

Cyclop admits XRP isn’t the worst coin out there. But he thinks it will do better than Bitcoin and Ethereum, the two most prominent cryptocurrencies.

The analyst warns against other coins

Ethereum Classic: Developers need to toe it, so it has no future.
Bitcoin Cash: Bitcoin Cash tried to be a way to pay for things but failed. It’s just a copy of Bitcoin with minor changes.
Monero: Its old technology and privacy coins are risky.
Axie Infinity: No one’s excited about it anymore, and there’s “nothing more to expect.”

Cyclop advises investors to think carefully before investing in these cryptocurrencies. He believes they will probably not grow much in the future.

This warning comes at a time when many people are interested in crypto. Some coins have seen significant price jumps, making investors hopeful. However, Cyclop’s message is clear: not all cryptocurrencies are suitable investments.

His advice reminds investors to do their homework. Even though a coin is famous or has increased in price, it will still grow. Cyclops suggests that some coins, like XRP, might not be worth the risk.

As the crypto world keeps changing, advice from experts like Cyclop can help investors make more intelligent choices. But remember, ultimately, it’s up to each person to decide where to put their money.

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.