Top Analyst Shares Three Steps to Becoming Rich with XRP

Crypto analyst Steph has shared a simple yet strategic approach to wealth accumulation using XRP, based on altcoin and Bitcoin market cycles.

The method revolves around timing XRP buys and sells according to BlockchainCenter’s Bitcoin and Altcoin Season Index. At present, the index sits at 18, indicating a strong Bitcoin season, which has historically been unfavorable for altcoins.

For instance, as the market is largely bearish, Bitcoin trades with a year-to-date loss of 8%. Meanwhile, altcoins like Dogecoin and Ethereum are trading with an astonishing 42% YTD loss. Moreover, data from CoinCodex shows that Bitcoin is currently outperforming 77% of the most prominent altcoins in the market.

According to Steph’s approach, this is the ideal time to accumulate promising altcoins like XRP. 

3 Steps to Build Wealth with XRP

The strategy suggests buying XRP when the index is below 25 (Bitcoin Season). The idea is that during this time, most altcoins would be trading at a massive discount. For instance, at $2.60, XRP is trading at a 25% discount compared to the higher level it sold for two months ago.

For those who capitalize on these perceived lows, Steph’s next strategy suggests selling the accumulated XRP tokens when the index is above 75 (Altcoin Season). During this time, altcoins tend to steal the spotlight from Bitcoin and outperform it with massive price surges.

Steph sees this as the ideal moment to start booking profits. In the third step, the analyst urges crypto investors to repeat the process to maximize gains. In his view, these are the three steps to becoming rich with XRP.

Historical Context of Altcoin Season and How XRP Performed

Notably, according to the chart accompanying Steph’s tweet, there have been two notable instances in this season where the crypto market index exceeded 75 and altcoins outperformed Bitcoin.

The first instance was in the first quarter of 2024. During this time, Bitcoin initially peaked at $73K. The impact of the gains spilled over to altcoins.

Meme coins, in particular, staged spectacular performances, with the likes of Shiba Inu orchestrating a 4X surge in less than two weeks. A CoinGecko report showed that some coins, like BRETT, even saw a 77X surge. Notably, XRP did not fully capitalize on the buoyant market in Q1 2024.

As expected, a cool-off occurred, and these top performers lost most of their gains. Meanwhile, another altcoin season surfaced in the last quarter of 2024. 

This time, utility tokens like XRP and Cardano dominated the market trend. XRP pulled off one of the biggest gains, seeing nearly a 6X surge in 12 weeks.

While most altcoins have lost the gains accrued from Q4 2024, XRP continues to preserve most of the gains despite Bitcoin’s volatility.

Now, market participants are eager for the next round of altcoin season, with expectations that XRP will lead the trend again. Steph, in particular, is calling for a price target as high as $1,452 for XRP. However, this remains largely speculative.