💰💰Will Ripple (XRP) witness a new rally? Analysts speak 💰💰

Cryptocurrency analyst EGRAG Crypto made the statement that has Ripple (XRP) investors excited in a post on social media platform X, where he has more than 50K followers. EGRAG states that the XRP dominance chart is at a critical support level and maintaining that level could indicate a major rally for XRP like in 2017 and 2021.

According to analysts, if Ripple's dominance remains above 1.11 percent, XRP has the potential to stage a breakout similar to the rally in 2017 and 2021. Although XRP rose from $0.18 to $1.12 in 2017, it rose rapidly from $0.26 to $1.59 in 2021.

However, despite this success,

On the other hand, it is stated that long-term XRP holders are likely to sell. Although some analysts believe in a positive future for XRP, on-chain data casts doubt on the situation. According to Santiment data, the average age of tokens in circulation has increased. This can be interpreted as long-term investors preferring to sell their cryptocurrencies rather than holding them in their wallets.

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