- XRP may follow Bitcoin’s ETF launch pattern for potential gains.
- Egrag Crypto predicts 13% dip before XRP rebounds strongly.
- XRP’s current dip mirrors Bitcoin’s path to significant recovery.
XRP’s current price action closely resembles Bitcoin’s behavior around its Spot ETF launch in 2023. According to Egrag Crypto, XRP is following a similar path to Bitcoin, with a noticeable dip that could precede a significant rebound. As of now, XRP is down by 7%, and it is projected to experience another 13% decline before the price begins to shift upwards.
Historically, Bitcoin’s price dropped by 20% following the launch of its Spot ETF before rebounding with a 91% increase, ultimately surging by 230%. Egrag Crypto has pointed out that XRP’s chart is now drawing comparisons to Bitcoin’s past performance, suggesting that a similar pattern could unfold.
As XRP tests its support levels, analysts are closely watching for signs that the price will stabilize and start to rise, mirroring Bitcoin’s recovery trajectory.
Also Read: XRP ETF Breaks Records on Day One – A Game-Changer for Crypto Investors!
XRP’s Potential Reversal and Upcoming Gains
XRP’s current dip has sparked speculation that the coin is on the brink of a significant upward move. The charts show that after falling 7%, XRP may still experience a further 13% drop before reversing its trend. If the pattern follows Bitcoin’s previous market behavior, this drop could be the final phase before XRP enters a new bullish phase.
In 2023, Bitcoin’s price hit a low before the ETF launch, after which it saw explosive growth. If XRP continues to mirror these movements, the next phase could result in a sharp rally. Egrag Crypto’s analysis indicates that once the 13% drop is complete, XRP could follow a similar trajectory to Bitcoin’s, offering the potential for significant returns.
Eyes on XRP: A Potential Breakout Looming
While XRP remains in a downtrend, the possibility of a breakout continues to excite investors. According to Egrag Crypto’s insights, there is growing speculation that XRP could soon follow in Bitcoin’s footsteps.
The current pattern on XRP’s chart, as noted by Egrag Crypto, suggests that after completing its retracement phase, the coin may see a dramatic increase, mimicking Bitcoin’s rise following the ETF launch.
Investors are keeping an eye on the remaining 13% drop, anticipating that it could be the final move before XRP shifts into a bullish trend. With the crypto market always full of surprises, XRP’s next move is one to watch closely.
Also Read: Why is XRP Price Crashing Today Despite ETF Launch?
