While the broader crypto market is shaken, renowned analyst EGRAG Crypto insists that XRP remains in a bullish zone and has the potential to explode by either 1,000% or 2,700% in the current cycle.
📉 Crypto Bloodbath Sends XRP to $1.61
Over the weekend, the market took a heavy hit—over $180 billion was wiped out from the total crypto market cap. XRP followed the downward spiral, dropping 10.39% on Sunday and hitting a five-month low of $1.61 on Monday. Yet EGRAG believes this is just a healthy correction within a larger bull trend.
📊 History Repeats Itself: XRP Fell Before Pumping in 2017 & 2021
EGRAG draws comparisons to previous cycles:
🔹 In 2017, XRP dropped by 73% before surging 2,700%
🔹 In 2021, XRP lost 78% before climbing back 1,000%
In both cases, the asset tested the 200-day moving average (MA) multiple times—or even broke slightly below it—before taking off into a major rally.
📈 XRP Now Testing 200-Day MA—Is a Rebound Coming?
During the latest crash, XRP fell 13% below its 200-day MA (now at $1.85). It has since bounced slightly and is trading just above this level, which EGRAG sees as a potential launchpad for a bullish breakout.
🔹 If XRP mirrors its 2017 rally, the target is $45.10 (+2,700%)
🔹 If it replicates 2021, we could see $17.70 (+1,000%)
🚨 What Could Derail the Bull Case?
The biggest risk to this outlook is a "death cross"—where the 50-day MA dips below the 200-day MA. But that hasn't happened yet.
📍 Current levels:
XRP price: $1.9050-day MA: $2.31200-day MA: $1.85
That means the technical structure remains intact—for now.
Summary: XRP May Be Poised for a Massive Breakout
Despite the panic over the recent dip, EGRAG Crypto views current price levels as a bullish opportunity. If history repeats itself, XRP might be gearing up for an explosive rally—provided it can hold above key supports and the broader market cooperates.
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