Falling against Manchester United in the FA Cup quarter-finals stung Liverpool supporters, but one bad result should not detract from a remarkable resurgence under Jurgen Klopp, who has revived his high-class squad and is now preparing to step down from his position at the end of the campaign.
The German has brought illustrious success to an outfit that had fallen, quite dramatically, off its perch in the years before his appointment, but Liverpool's struggle last season was a by-product of inaction in the transfer market.
Since the influx of influential players in the earlier days of Klopp's reign, the £25m deal to bring Thiago Alcantara to Anfield was the lone midfield acquisition before last summer's frenzied activity.
The distinguished Spaniard has enjoyed a career laden with prosperity but, while winning silverware with Liverpool, he has failed to replicate the same lofty heights due to incessant injury problems, with the 32-year-old out of contract in the summer and having played just five minutes of football this season. It's unknown if he will feature again.
Still, as harsh as it may be it's probably for the best that he is headed for the exit, ageing and costing the club a large sum with a £200k-per-week contract. The fresh faces are relishing their responsibilities at the crest of the new wave.
Alexis Mac Allister is an elite talent; Domimik Szoboszlai is an elegant workhorse. Surprise signing Wataru Endo has been a bona fide success in the holding midfield. Ryan Gravenberch, aged 21, was the final piece of the puzzle and the last to join the project – immensely talented, he's yet to grow into his skin fully.
Why Liverpool signed Ryan Gravenberch
Gravenberch has been regarded as a top talent for several seasons now but he fell by the wayside after transferring from Ajax to Bayern Munich last season and started just three Bundesliga matches, failing to win over both Julian Nagelsmann and his successor Thomas Tuchel.
Klopp was a big admirer nonetheless and swooped in to secure the Netherlands international for £34m just before last summer's transfer deadline, with his multi-functionality and sublime technical quality speaking of his potential to succeed at the apex of the European scene.
As per FBref, the rangy midfielder ranks among the top 7% of positional peers across Europe's top five leagues over the past year for shot-creating actions, the top 13% for progressive passes, the top 6% for progressive carries, the top 5% for successful take-ons and the top 6% for blocks per 90.
1.
Kevin De Bruyne
Manchester City
2.
Federico Valverde
Real Madrid
3.
Alexis Mac Allister
Liverpool
4.
Ilkay Gundogan
Barcelona
5.
Jude Bellingham
Real Madrid
These skills place him alongside some of the game's most creative and influential midfielders, with his likeness to Jude Bellingham particularly eye-catching.
Liverpool missed out on the prodigious England international last summer, pulling out of the race in April given the need to spread funds across multiple areas of the central midfield, with Bellingham thus completing a transfer to Real Madrid, rising to £115m.
The greatest faculty Gravenberch shares with Bellingham is probably his sublime quality on the ball, and while he doesn't boast the same prolificness as the man who has scored 20 times from his first 31 matches in a Los Blancos shirt, he's rounded and dynamic in a way that few can rival.
For example, the 20-year-old has completed 89% of his passes in La Liga, averaging 1.7 key passes, 1.4 tackles, 4.5 ball recoveries, 1.8 dribbles and 7.1 successful duels per match, as per Sofascore, proving that he's not just poaching goals in the final third.
While he's ebbed and flowed in performance for the Reds so far – described as a "passenger out of possession" at one stage by one Liverpool writer – Gravenberch is undoubtedly a high-calibre player and he might just have found the perfect stomping ground at Anfield.
Make no mistake, Gravenberch still perches in the maiden stage of his professional career but he's already worth a sizeable amount and could see his worth skyrocket in the years to come.
Ryan Gravenberch's market value in 2024
Since arriving on Merseyside, Gravenberch has seen his value rise, but the most exciting part is that he's barely scratched the surface of what could flower into a rich career at Liverpool.
Market Movers
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According to CIES Football Observatory's valuation model, Gravenberch is currently valued at £51m, marking a 50% rise in price since his entry.
Moreover, he's worth more than goal machine Mohamed Salah, who is valued at £34m, which does seem a little low for the 31-year-old, who has wreaked devastation on defences this season and boasts 21 goals and 13 assists from just 31 matches in all competitions.
Salah is not exactly enjoying a rogue campaign of brilliance either, having netted 207 goals and added 92 assists across 337 appearances for Liverpool since signing from Roma for £34m back in 2017, near the start of the stunning rise under Klopp's management.
Interestingly, Salah arrived at the club for the same amount as Gravenberch, with the latter now capable of emulating his peer and seeing his market price balloon as he develops his qualities under the Anfield lights. Klopp might be closing the door on his tenure at the club, but Liverpool have everything that Gravenberch needs to grow into a world-beater at the forefront of the European scene.
There are of course teams that would pay a far greater fee to procure Salah's signature, with Saudi Pro League side Al-Ittihad even offering £150m to snatch the Egyptian away from Liverpool last summer, but it's a testament to Gravenberch that he has risen in value nonetheless.
With so much room for growth, the Dutchman will have delighted Anfield bosses so far. With tweaks and refinements over the coming years, he might turn into a world-class machine down the line.