Will Ripple (XRP) witness a new rally? Analyst Speaks.

Cryptocurrency analyst EGRAG Crypto, who has more than 50 thousand followers on social media, excited Ripple (XRP) investors with his post from his X account.

EGRAG stated that the XRP dominance chart shared on X is at an important support level. According to the famous phenomenon, if Ripple dominance remains above 1.11 percent, a rise similar to those in 2017 and 2021 may begin.

Ripple had previously risen from $0.18 to 1.12 in its rally in 2017. XRP, which is among the top ten, experienced a rapid rise from 0.26 to 1.59 dollars in 2021.

Although XRP investors made huge profits during the mentioned periods, the expected rise has not come in the last three years. XRP has lost 17 percent of its value since the beginning of 2024.

According to the analyst, in order for the Ripple price to signal a new rally, it must first remain permanently above $0.58.

Although some analysts maintain bullish hope for XRP, on-chain data is not very encouraging. According to Santiment's data, the average token age has increased.

The fact that the cryptocurrencies in circulation are from older times is interpreted as long-term investors prefer to sell rather than keep them in their wallets.
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