XRP News: Analyst Warns Of Ripple Price Crash To $0.74, What’s Next?

XRP price today has lost more than 13% today amid a broader crypto market downturn, with its volume skyrocketing. Amid this, a top analyst has made headlines in the XRP news thread with his recent warning over a potential Ripple’s coin crash to $0.74, citing historical trends. However, it’s worth that despite the short-term bearish outlook, the analyst remained optimistic on the future trajectory of the coin.

XRP News: Historical Patterns Hints At Ripple Price Crash Ahead

As XRP price today recorded a massive slump amid a broader crypto market crash, market analyst EGRAG CRYPTO has once again sparked discussion in the crypto community with a stark warning.

According to him, Ripple’s native asset could be on the verge of repeating historical crashes witnessed in previous market cycles. This prediction has made headlines in the XRP news column. He pointed to data from both the 2017 and 2021 cycles, where XRP nosedived by 73% and 78%, respectively, from local highs to lows.

Meanwhile, according to the pundit, similar price actions could send XRP plunging to $0.91 or even $0.74. These targets are drawn from how XRP behaved in those cycles before making massive comebacks.

Notably, EGRAG noted that during those periods, the coin dropped significantly but also bounced sharply, rising 2700% in 2017 and 1000% in 2021. Having said that, the analyst maintained a bullish outlook, suggesting that history could repeat itself on the upside too.

Key Technical Indicators Hints At XRP’s Bullish Run Ahead

EGRAG highlighted the 200-day Moving Average (MA) as a critical support zone. He explained that in past crashes, XRP fell below this average but managed to bounce back. The crucial signal to watch, he said, is the relationship between the 50 MA and 200 MA.

“As long as the 50 MA hasn’t crossed bearish with the 200 MA, and #XRP pumps back to the 200 MA then gets rejected, we are still in a #BULLRUN!” he suggested. In other words, if XRP touches the 200 MA and rebounds before a bearish crossover, a strong upside move could follow.

How’s Ripple’s Coin Is Performing?

XRP price today slumped more than 13% and exchanged hands at $1.78, while its one-day volume rocketed around 500% to $12 billion. Notably, the crypto has touched a 24-hour low of $1.64 while witnessing a high of $2.09. Besides, the XRP Futures Open Interest also fell 18% to $2.9 billion, reflecting the gloomy sentiment in the market.

In addition, experts like EGRAG CRYPTO have further sparked discussions with the latest prediction over a further dip ahead. Despite that, it appears that the pundits remain optimistic about the long-term trajectory of the coin. Besides, it also comes as Ripple CTO David Schwartz has shared “good news” for the market, which has caught the investors’ attention.