- The crypto market stays calm, Bitcoin and XRP moving sideways quietly.
- Historically, Bitcoin dips again before rallying, possibly pulling XRP’s price lower.
- XRP’s RSI trendline recently broke, hinting at a big move ahead.
The cryptocurrency market has been pretty dull lately, with both Bitcoin and XRP trading sideways. Prices aren’t going up or down in a big way, and traders are waiting for a breakout. However, this calm period is called an accumulation phase, where the price stays in a tight range before making a strong move.
Crypto experts now have compared XRP’s current price movement to Bitcoin’s past market cycles. Similar patterns happened with Bitcoin in 2020 and even with the stock market. In both cases, prices hit a high, dropped about 50%, stayed flat for a while, and then broke out to much higher levels.
Historically, Bitcoin often dips one more time before starting a new rally. If that happens again, XRP’s price could also drop, depending on how long Bitcoin takes to make its move.
Related: XRP Ledger Sets New Record with 5.1 Million Transactions in 24 Hours
What’s next For XRP Price?
Now, crypto analyst Casi Trades says XRP is at a crucial point and could be close to a breakout. An important market indicator called the RSI trendline has just broken down. This is an early sign that a big move might be coming.
According to the analyst, the price could first fall sharply to lower support levels, areas where the price tends to find stability before bouncing back up. The important support levels to watch are:
- $2.01
- $1.90
- $1.55
However, if the price drops, it doesn’t mean XRP is weak. This is often how the market builds up energy before a breakout.
A quick drop, followed by a sharp recovery (called a V-shaped bounce), could be the sign that the market has found its bottom. If XRP reaches these support levels and rebounds quickly, it might signal the start of a big upward move.
Related: Altcoin ETF Approval Odds for XRP, DOGE, and ADA Hiked to 90% by Bloomberg
But if it stalls or bounces too early, there could be one final drop before the real rally begins. “Volatility dried up. And now the pressure is building toward a release,” the analyst concluded.
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