- Egrag Crypto warns investors about a potential XRP 73% crash if historical patterns repeat.
- Sell offs by whales, including 60 million XRP, have contributed to recent price declines and market pressure.
- XRP’s future depends on breaking resistance at $4 by March 10, 2025, to avoid potential crashes linked to historical market trends.
Egrag Crypto has issued a warning for the XRP community, predicting a potential 73% crash. He indicates concern for new investors, using historical patterns that suggest price drops may be imminent.
Historical Patterns Indicate Possible Downturn
According to Egrag Crypto, XRP has experienced major price declines at key historical points. He points to four major instances where XRP prices dipped after reaching specific resistance points. These declines averaged around 74%, with individual drops of 89.59%, 68.97%, 64.35%, and 73.39%.
He indicates that if XRP touches a critical resistance level, he referred to as “Fork C”, the market could face another substantial drop. This potential drop is seen as a retest within an ascending triangle.
Key Levels and Timing Crucial for Stability
Egrag Crypto emphasizes the importance of XRP closing above $4 with strong confirmation on the weekly timeframe. He notes that this needs to occur before March 10, 2025, due to a lunar eclipse on March 14, which historically correlates with market dips.
The analyst suggests that avoiding a crash could lead to XRP rising to $13-$15. He stresses the need to break historical patterns to prevent a downturn, while also acknowledging the challenge posed by market makers in achieving these targets.
Whale Activity Adds Pressure
Analyst Ali noted substantial sell offs by large holders, or “whales,” who sold 60 million XRP within 24 hours. This aligns with observed price movements, suggesting that whale actions impact market dynamics.
The XRP price has ranged between $2.18 and $2.49, with an uptrend in December 2024, peaking at $2.49. However, a sharp decline followed, coinciding with a drop in wallet holdings from 6.86 billion XRP to 6.61 billion XRP by January 8, 2025. This sell off phase has contributed to the downward price pressure.
Resistance and Support Levels
Key resistance and support levels have emerged during this period. $2.49 served as a resistance level, with XRP struggling to maintain higher prices. Meanwhile, the $2.18 to $2.20 range acted as a support zone, preventing further declines despite sell offs.
The stability in large wallet holdings during initial price surges suggests strong holding sentiment among whales. However, the subsequent decline in holdings and price indicates a potential shift toward profit taking or redistribution, affecting market liquidity and volatility.
Future Trends and Whale Behavior
Future trends may depend on continued whale activity and market sentiment. If large wallet holdings persist in declining, XRP could face additional downward pressure. A rebound at the $2.18 to $2.20 support range could lead to renewed buying interest.
Whale accumulation patterns and broader market news, such as regulatory changes and partnerships involving XRP could significantly influence future price movements.