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<p>Top crypto analyst EGRAG Crypto has shared an updated analysis on<a href="https://captainaltcoin.com/xrp-buy-the-dip-confirmed-say-experts-predict-potential-ripple-token-price-rally/" target="_blank" rel="noopener noreferrer nofollow"> XRP’s future price trajectory</a>. EGRAG reintroduced the “Bent Fork” chart, a tool he first presented in June 2023.&nbsp;</p>
<p>According to the chart, XRP’s upward price potential has now been extended to a peak of $17. The current price structure shows that $1 serves as a notable resistance level, both structurally and psychologically, for the market.</p>
<p>Besides, this price milestone marks a crucial threshold that could impact XRP’s trajectory in the coming months.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#XRP</a> The Bent Fork – Macro Ranging (Update):<br><br>Back in June 2023, I first introduced the "Bent Fork Chart" <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> (check out the original post for clarity: <a href="https://t.co/28SO2GiJdK" target="_blank" rel="noopener noreferrer nofollow">https://t.co/28SO2GiJdK</a>).<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;">Updated Targets:<br>As XRP's curvature increases, so does the target. The new top for the "Bent Fork"… <a href="https://t.co/pDKrANiUhQ" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/pDKrANiUhQ</a></p>— EGRAG CRYPTO (@egragcrypto) <a href="https://twitter.com/egragcrypto/status/1852284168668860825?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 1, 2024</a>
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<h2 class="wp-block-heading" id="strong-xrp-s-long-term-accumulation-phase-strong"><strong>XRP’s Long-Term Accumulation Phase</strong></h2>
<p>The analyst also notes that <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> has been in an extended accumulation phase since April 2022, spanning nearly 950 days. This extended period of stability, according to EGRAG, could signal the groundwork for a major price movement.&nbsp;</p>
<p>As XRP’s chart structure tightens, the coin may be preparing for a substantial increase. Such a pattern aligns with previous prolonged accumulation periods, which have historically preceded <a href="https://zycrypto.com/20589-xrp-price-explosion-expected-as-pundit-sees-ripples-xrp-outshining-markets-in-next-cycle/" target="_blank" rel="noopener noreferrer nofollow">major market shifts</a>.</p>
<p>In the event XRP reaches the projected $17 high, EGRAG suggests that a bear market could follow, leading to an 80% retracement. This would bring XRP’s price down to approximately $3.5, a level that he considers essential for XRP’s long-term structural foundation.&nbsp;</p>
<p>Moreover, this price point, if reached, could serve as a new baseline where accumulation or ranging activity might resume. As EGRAG emphasizes, closing above this mark would be pivotal, potentially establishing a new level of support for XRP.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/sui-price-could-rise-past-3-heres-why/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>SUI Price Could Rise Past $3: Here’s Why</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-btc-dominance-and-the-potential-for-an-xrp-bull-run-strong"><strong>BTC Dominance and the Potential for an XRP Bull Run</strong></h2>
<p>Supporting this analysis, another crypto analyst, Dark Defender, adds perspective on Bitcoin’s dominance.&nbsp;</p>
<p>According to his view, a decline in Bitcoin’s market dominance often precedes bullish runs for XRP, as seen in 2017 and 2021. Dark Defender’s insights suggest that a future decrease in <a href="https://www.kitco.com/opinion/2024-10-31/bitcoin-dominance-holds-strong-amid-market-volatility-altcoins-struggle" target="_blank" rel="noopener noreferrer nofollow">BTC dominance</a> could spark another rally for XRP, amplifying the possibilities laid out by EGRAG’s analysis.&nbsp;</p>
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   <p lang="en" dir="ltr">As we said BTC Dominance was on top!<br><br>Many mixed the last post with BTC price <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f642.png" alt="🙂" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>So check it again, it is dominance<br><br>every time <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> dominance PLUNGES, <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a> Bull Run begins like in 2017, 2021</p>— Dark Defender (@DefendDark) <a href="https://twitter.com/DefendDark/status/1852285503619399734?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 1, 2024</a>
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<p>Together, both analysts present a scenario that could guide XRP investors on the coin’s potential in both bullish and bearish conditions.</p>
<p>Data from CoinGecko indicates <a href="https://www.coingecko.com/en/coins/xrp" target="_blank" rel="noopener noreferrer nofollow">XRP trading at $0.5187</a>, with minor recent declines, showcasing the crypto’s relative stability amid broader market fluctuations.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/ripple-analyst-warns-of-potential-80-dip-for-xrp-price-heres-why/" rel="noopener noreferrer nofollow">Ripple Analyst Warns of Potential 80% Dip for XRP Price – Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ripple Analyst Warns of Potential 80% Dip for XRP Price – Here’s Why

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