From $27 to $0.80? Analyst Unveils XRP’s Potential Bear Market Scenario
Main Idea
Crypto analyst EGRAG CRYPTO predicts a potential significant drop in XRP's price in the next bear cycle, based on historical patterns, despite its current bullish trend.
Key Points
1. EGRAG CRYPTO projects XRP could drop to $0.80 in a bear market, modeling a 97% decline from a potential peak of $27, similar to its 2017 trajectory.
2. Another scenario suggests XRP could peak near $9 and then drop 85%, bringing the price down to approximately $1.30.
3. XRP recently broke out of a 7-month range, hitting a multi-year high of $3.65 before retesting support at $3.00, with institutional activity and whale accumulation supporting the rally.
4. At the time of writing, XRP was trading at $3.26, down 8.6% over the past week but up 49.1% this month and 438.7% year-over-year.
5. Analyst Jonathan Carter suggests a bounce from $3 could push XRP toward $4.60, while a breakdown might retest $2.50.
Description
Ripple’s XRP may be flying high above $3 now, but could it crash to under a dollar in the next bear cycle? That’s the controversial call from popular crypto analyst EGRAG CRYPTO, who recently projected possible post-bull market targets for XRP as low as $0.80, based on historical price cycles and technical patterns. Bullish Breakout Meets Bearish Warnings In a July 27 post on X, EGRAG broke down two possible bearish scenarios for XRP based on historical patterns. His first simulation assumed tha...
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