A significant market analyst insists XRP is silent in bullish territory, anticipating the asset to both pump 1,000% or 2,700% after the sizzling atomize.
For context, the broader crypto market witnessed a bloodbath over the weekend, which extended into the contemporary week. In particular, the final crypto market cap misplaced over $180 billion on Sunday, April 6, amid a 6.87% intraday loss. Despite a meager 0.61% beget the next day, most sources, love XRP, saw large slumps.
XRP Aloof in Bullish Territory
Critically, XRP dropped 10.39% on Sunday, then collapsed to a 5-month low of $1.61 the next day. The asset recovered from the $1.61 floor but silent nursed a loss of 1.32% on Monday. However, amid the bloodbath, analyst EGRAG Crypto believes XRP is silent in bullish territory.
In a recent commentary, the market watcher confirmed that mark slumps similar to this had occurred in some unspecified time in the future of earlier bullish phases. On the other hand, historical data indicates that XRP has continually recovered from these mark declines, indirectly surging to better heights.
Particularly, he called attention to the 2017 and 2021 bull runs, highlighting similarities between both market phases and the contemporary duration. This used to be his strive to point to that the sizzling market atomize used to be a customary one and can merely not be a motive for distress.
Historical Efficiency
According to EGRAG, in 2017, XRP witnessed a large 73% atomize from its peak to native bottom. Because the asset seen this correction, it retested the make stronger on the 200-day transferring life like (MA) a few instances and even slumped below the dynamic make stronger by as great as 25%.
Additional, a identical bearish pattern emerged in 2021 despite the bull speed then. Critically, in some unspecified time in the future of this duration, XRP collapsed 78% from its high to a floor mark and then retested the 200-day MA make stronger a couple of instances. Amid the retests, XRP dropped 42% below the 200-day MA.
Curiously, in every of these instances, XRP saw a recovery push that allowed it to recoup the losses from the bloodbath. For event, in 2017, the asset surged by up to 2,700%. In the period in-between, in 2021, it recorded an spectacular 1,000% pump.
XRP Could Rally 2,700% or 1,000%
Because the newest market atomize emerged, XRP seen a bound associated to the 2017 and 2021 declines. As a consequence, the asset is now retesting the make stronger on the 200-day MA (at worth at $1.85). At some stage in the distress on Monday, XRP’s atomize to $1.61 marked a 13% topple below the 200-day MA.
Despite recovering above the make stronger, XRP is silent dangerously conclude to this mark stage. Critically, in a earlier anecdote, EGRAG had suggested that a retest of this transferring life like could well perhaps emerge in some unspecified time in the future of a downturn. Now that this forecast has materialized, he believes a pump could well perhaps occur after the market recovers.
#XRP – 200 Everyday MA:
We continuously contact the 200 Everyday MA in some unspecified time in the future of #BullRuns, and then we protect making elevated highs! 🪜
Males lie, ladies lie, but charts by no plan lie! 💯 pic.twitter.com/0OOR4EcHEA
— EGRAG CRYPTO (@egragcrypto) April 3, 2025
According to EGRAG, XRP could well perhaps reflect the 2017 speed and rally 2,700% or repeat the 2021 surge and pump 1,000%. To put issues into standpoint, a 2,700% develop from the $1.61 native bottom interprets to a target mark of $45.1. In the period in-between, a 1,000% upward push from $1.61 would consequence in a mark of $17.7.
EGRAG well-known that XRP is silent able to engineering an spectacular speed on this bull season if the asset doesn’t peep a death unsuitable, which could well perhaps check the 50-day MA unsuitable below the 200-day MA. At the moment, XRP trades for $1.90, with the 50-day MA now at $2.31 and the 200-day MA sitting at $1.85.
