XRP has once again taken center stage in the crypto market after a strong statement from well-known analyst Egrag Crypto triggered a wave of interest. According to Egrag, current price levels may represent a critical buying opportunity before a significant rally takes shape.
In a recent post shared on social media, the analyst addressed the ongoing downturn, describing it as “blood on the streets.” He noted that markets in such deflationary conditions provide optimal conditions for investors to acquire positions before a possible breakout.
The analyst Egrag stated, “You must buy the blood no matter who you are,” detailing historical examples to build his point.
Through past market observations in 2017 and 2021, Egrag showed how XRP behaved. The price of XRP plummeted 73 percent from peak to low in 2017 until it tested the 200-day moving average. After dropping momentarily, XRP experienced a 2,700 percent upward movement.
The 2021 price cycle showed the same pattern as previous years, dropping by 78 percent before testing the moving average level. XRP showed several price closing points below this area and hit a new low of 42 percent before recovering with a 1,000 percent growth rate.
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Moving Averages Show Bullish Structure Is Still Intact
The analyst noted that XRP remains bullish as long as the 50-day moving average stays above the 200-day moving average. He explained that a bearish crossover typically signals the end of a bull run, not the start. He believes the conditions are still favorable since such a crossover has not occurred.
According to his chart, XRP is retesting the 200 MA, consistent with past setups leading to major rallies. Egrag warned that failure to act now may come with regret. “Some of you will regret not buying this dip,” he stated, suggesting a major move may be ahead.
Source: @egragcrypto
He also reminded followers that he had previously predicted a $3 XRP price while trading under $0.30. That forecast proved accurate, and he maintains that a similar pattern could unfold again.
Conclusion
With technical indicators similar to previous cycles, Egrag Crypto’s forecast suggests XRP may be preparing for another breakout. His warning to investors not to miss the dip underscores rising anticipation of a possible large-scale rally.
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