XRP Analyst Predicts 90% Drop Following Significant Price Increase
Crypto expert JD has recently made a bold prediction regarding the future of XRP, stating that the token is poised for a significant surge known as the “final biblical move” against Bitcoin, to be followed by a massive 90% drop. This potential surge is anticipated to mark the peak of XRP’s dominance in the current market cycle, offering substantial rewards for savvy investors while potentially devastating those who jump in too late.
Presently, XRP is trading at $3.15, showing stability following a noteworthy breakout in mid-July that propelled the price to $3.64. This breakout confirmed a breakout from a six-year symmetrical triangle pattern, a key technical structure indicating potential future momentum. The surge in trading volume, with over 158 million XRP tokens exchanged within 24 hours, hinted at strong institutional and whale involvement.
At the moment, XRP is consolidating above $3.00, with support at $3.05 and resistance levels between $3.40 and $3.60. Analysts project that if the bulls can maintain the price above these levels, a move towards the $6 mark is possible, in line with the expected target of the triangle pattern. On-chain data reveals increased accumulation by large XRP holders, with over 70 million tokens moving from dormant wallets in the past fortnight, a trend historically foretelling significant price upticks.
Institutional interest in XRP is on the rise, buoyed by Ripple’s legal strides against the SEC and growing optimism surrounding a potential U.S.-listed XRP ETF. Such developments bolster the long-term prospects of the token, positioning it to benefit from heightened macro liquidity.
JD’s analysis delves deeper into XRP’s relationship with Bitcoin, highlighting a key historical resistance turned support level currently being tested by the token. Per his insights, XRP might climb to $9 (or 0.00008 BTC) before a sharp decline, an eventuality he attributes to both technical and psychological factors like institutional investors exiting the market as retail traders remain overly bullish.
While JD’s forecast leans towards a dramatic crash, the broader analyst community maintains a more cautious stance. Most anticipate XRP’s steady climb towards $4–$6 in the upcoming quarters, contingent on stable macroeconomic conditions. The notion of a 90% plunge is generally dismissed in favor of a more measured consolidation and retracement phase. Future price forecasts exceeding $10 hinge significantly on a Bitcoin-led bull market and heightened institutional interest in XRP Ledger-based products.
The recent breakout in XRP’s technical outlook, coupled with burgeoning institutional interest and whale support, signifies robust momentum for the token. Though JD’s doomsday scenario is not universally endorsed, the forthcoming months are poised to be pivotal for XRP’s trajectory in the ongoing market cycle.
