This Ripple Chart Structure Indicates That XRP Will Crash Sooner or Later, and It Will Be Epic
According to crypto analyst EGRAG CRYPTO, technical chart patterns reveal that a massive price crash looms inevitable for XRP, the native token of the Ripple payment network. In a recent tweet, he points to a descending channel that has confined the price since 2021, acting as strong resistance. This ominous structure signals XRP is poised for an “epic” plunge after another rejection.
As EGRAG CRYPTO’s chart shows, XRP remains stuck within a downward sloping channel in place since 2021 on the monthly timeframe. This reliable channel has halted upward momentum and reversed the price downward each time it nears the upper boundary.
With the current price again approaching resistance around $0.6, history suggests rejection and a renewed crash may occur: “If the price refuses to break above the channel, the price of XRP may crash from $0.6 into the bottom of the channel at $0.2. Breaking below the $0.2 will lead to major crash, which is the epic crash he is referring to.”
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Show more +Manipulation or Cyclical Retracement
Fellow analyst Brett Hill offers an alternate perspective, seeing the potential descent as “a classic case of market manipulation.” However, he similarly anticipates the price could severely pull back in the near-term.
While bracing for this expected retracement, Hill strikes a tone of reassurance: “Fear not, my friend! Let it descend for now, for we possess the foresight to see where it’s headed in the long run. Rest assured, XRP is destined for the stars!”
So while technical patterns foreshadow impending downside volatility, some remain confident the bearishness will prove temporary. Ultimately, belief in XRP’s long-term trajectory persists despite the risk of manipulation-fueled crashes along the way.
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