A recent analysis from well-known crypto strategist EGRAG Crypto has drawn significant attention from the XRP community, warning of a potential 75% drop in price based on historical patterns.
Overview of EGRAG's Forecast
EGRAG Crypto published his analysis on the X platform, presenting technical and cyclical factors behind his prediction. He referenced a previous analysis that used astrological data and chart signals pointing to a significant downturn.
Critical Timelines and Levels
EGRAG emphasizes that to prevent a catastrophic downturn, XRP must close above $4 before March 10, designating the March 14 lunar eclipse as a critical marker. According to his theory, lunar eclipses have historically coincided with market crashes, serving as a signal for significant corrections.
Future of XRP Amid Possible Drop
Despite the alarming potential for a 75% drop, EGRAG offers a nuanced perspective. He suggests that such a decline would not spell doom for XRP but could serve as a retest of the lower boundary of the asset’s long-term ascending triangle pattern. This drop could function as a painful but necessary reset, paving the way for future price increases.
EGRAG's analysis underscores the importance of understanding historical price behavior and approaching expectations with caution. The coming months could determine whether XRP can escape its range-bound trading or repeat another painful chapter in its volatile history.
