- A crypto analyst sees no surprise in XRP’s latest price decline.
- XRP dropped to critical support on Friday morning.
- Experts believe the current crypto market pullback is temporary.
A crypto analyst on X stated that the latest dip in XRP’s price was in line with their predictions. In his latest post, the analyst reminded followers about an initial prediction where he said the cryptocurrency’s price would drop to the $1.88 – $1.91 range. He noted that the current drop is in fulfillment of that prediction.
XRP dropped to $1.94 on Friday morning, per TradingView’s data. With that drop, the analyst confirms that the cryptocurrency has achieved the targeted correction. Hence, he expects a trend reversal from around the current price region based on historical behavior.
Related: XRP Bulls Show Strong Presence as Bears Face Rejection at Historic Support Level
Historical Patterns and XRP’s Potential Reversal
Citing a previous dip, the analyst noted how XRP reversed around a similar level to start a sustained rally. He believes the altcoin will repeat something similar before finishing the fourth wave in a monthly timeframe.
In the meantime, XRP traded for $2.04 at the time of writing after joining other cryptos in a market-wide crash. The latest drop pushed the altcoin into a critical region, strengthened by the $2 support level and the multiple rejection data points from past declines. Crypto analysts expect this support to hold, and for XRP to reverse the downward trend. However, breaking below the support could lead to further decline, potentially targeting $1.7.
Analyst’s Confidence and Market Sentiment
The cited analyst on X expressed a noteworthy confidence level, stating how prepared he was for XRP’s price decline to the current level. His approach suggested an opportunity for investors to accumulate more tokens before an imminent rally or hold their current positions without selling off.
Related: XRP Price Prediction: Analyst Speculation on a Potential $1 Crash as Early as March 1
That sentiment has spread across the entire crypto market, with most expert analysts insisting the current decline results from a temporary FUD that would soon fade away to give room for a sustained rally. They believe the crypto market bull cycle is intact and that the bull cycle is yet to run its course.
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