XRP Could Drop 74%, Analyst Warns

user avatar

by Giorgi Kostiuk

2 years ago

Analyst EGRAG Crypto has raised alarms about a potential significant drop in XRP's price. The current market downturn and negative funding rates may add to the pressure.

XRP To Face 74% Crash

According to EGRAG Crypto, XRP might experience a 74% drop due to historically significant declines every time it hit 'Fork C'. Historical data shows significant corrections in December 2015, May 2017, September 2018, and April 2021.

Avoiding the Crash: The $4 Barrier

To avoid the bearish scenario, it's crucial for XRP to close above $4 on a weekly chart by March 10, 2025. Failure to do so may trigger a significant downturn. The upcoming lunar eclipse on March 14 adds urgency, historically coinciding with market volatility and price drops.

Funding Rates Add Pressure

Negative funding rates for XRP indicate increased traders betting against its price, creating additional pressure on its current market position, reflecting bearish sentiment.

Despite short-term concerns, EGRAG remains bullish on XRP's long-term outlook. Breaking the $4 resistance could lead to a rally towards $13-$15.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Retail Investors to Face Restrictions in New Crypto Market

Retail investors will face significant restrictions in the new crypto market launching on December 1, including a purchase limit of 300,000 rubles annually and mandatory risk awareness testing.

user avatarSatoshi Nakamura

Moscow Exchange to Launch Digital Asset Market on December 1

Moscow Exchange is set to launch a regulated digital asset market on December 1, allowing trading of Bitcoin, Ethereum, and Tether.

user avatarJesper Sørensen

US Sanctions Challenge Moscow Exchange's Crypto Initiative

The launch of Moscow Exchange's new digital asset market faces significant challenges due to international sanctions imposed on the exchange and its clearing subsidiary.

user avatarNguyen Van Long

US Treasury Takes Action Against MEXC Global for Illicit Transactions

The US Treasury has prohibited financial institutions from processing transfers involving MEXC Global due to alleged illicit transactions linked to sanctions evasion.

user avatarRajesh Kumar

US Treasury Department Moves to Cut MEXC Global from Financial System

The US Treasury Department has taken action against MEXC Global, a cryptocurrency exchange, to sever its ties with the American financial system due to accusations of facilitating over $16 billion in illicit transactions linked to Iran, North Korea, and Russia.

user avatarLucas Weissmann

Political Fallout from Ueno Bank Crisis in Paraguay

The Ueno Bank crisis has triggered significant political repercussions in Paraguay, including the resignation of President Santiago Peña and potential impeachment proceedings.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.