The cryptomarkt is currently experiencing turbulent times and XRP was also not saved. The digital currency recently fell sharply and even fell below $ 2 this morning. Yet XRP now shows resilience again, because at the time of writing the race is already $ 2.75.
Egrag predicts price fall, but remains bullish
The well-known crypto analyst Egrag already predicted a substantial price fall earlier this week, when XRP still fluctuated around $ 3. His prediction came out, but the big question is: what else can we expect from him?
Despite the recent crash, Egrag remains positive. He emphasizes that buyers quickly bought the dip, which led to an impressive recovery of more than 50%within just 12 hours. According to him, this is a crucial first step towards a possible return to $ 3.
In this recovery, Egrag even sees the potential for a new, strong bullish trend. If XRP reaches $ 3 again, this could result in the most optimistic scenario in a new All-time High (ATH). Although the volatility remains for the time being, the rapid rebound underlines that the demand for XRP is undiminished.
Cause of the crash
The recent fall in price raises many questions: what caused this sudden crash? The market was already under pressure due to the trading rates that President Trump had imposed, which led to uncertainty in the traditional markets. That unrest skipped on the cryptomarket, where XRP was also hit hard.
On top of that, a massive wave of sales by large investors followed. Analyst Ali Martinez reported that Whales with a balance between 10 and 100 million XRP dumps no less than 130 million XRP dumps within 24 hours. This caused fierce price fluctuations.
Despite the recent volatility, Martinez remains optimistic about the long term. He emphasizes that strategic developments within Ripple XRP may be able to give a new boost. In the coming months, therefore, will be crucial for a possible breakthrough above $ 3 and beyond.
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Source: https://newsbit.nl/cryptocrash-voorbij-waarom-de-xrp-koers-snel-naar-3-kan-stijgen/
