- Technical indicators suggest XRP is not yet in a bear cycle, and its price trend suggests it’s gearing up for a final major rally.
- A popular analyst claimed the token’s chart closely resembles the precursor of the 2017 and 2021 bull cycles.
After Bitcoin’s (BTC) all-time high of $126K in early October, followed by a series of massive cryptocurrency liquidations, many financial analysts have claimed that the market had already peaked and is now in a bear cycle. However, the XRP price trend tells a different story.
XRP Price Gears Up for a Final Push Upward
According to the pseudonymous Egrag Crypto, a popular technical analyst, XRP has room for further rallies. He refuted bearish calls amid the 50 exponential moving average’s (EMA) incoming crossing with the 200 EMA, which would spell the arrival of the dreaded death cross.
In trading, the death cross is a bearish indicator signaling a potential downturn. The pattern features the 50-day (short-term) EMA moving downward and intersecting with the 200-day (long-term) EMA.
Additionally, the analyst explained that a “true bearish (death) cross” matters only when the price is already below both EMAs and momentum is significantly slowing. The price of XRP negates the bearish thesis because it’s still trading above the 200 EMA, and that indicator is rising, not falling.
Drawing parallels from the 2018 bear cycle after XRP’s historical peak at $3.84, Egrag noted that the death cross only occurred following the massive corrections from the peak of the bear cycle. The pattern only served as confirmation of the bear season, not its catalyst.
On the other hand, the crypto personality saw closer similarities between XRP’s current trajectory and the 2017 as well as early 2021 trends. Those periods were the launchpads of the token’s bull cycle, culminating in significant gains.
Moreover, Egrag stated that, based on the structures mentioned, the ongoing XRP price pattern resembles a late-cycle consolidation in preparation for a final rally in this cycle.
“The chart leans toward one last push, not a completed top,” the analyst emphasized.
Echoing Prominent Analysts’ Projections
Egrag’s optimism aligns with the forecasts of other major players in the crypto space. Bitwise CEO Hunter Horsley believes Bitcoin has more fuel left for a large rally, given its growing adoption, regulatory progress, and new market dynamics. There’s also Fundstrat co-founder and Bitmine chairman Tom Lee’s bold $150K-$200K prediction for the premier digital asset before the end of 2025.
With XRP’s high correlation with BTC at 0.84 over the three-month timeframe, it stands to gain from any positive developments in Bitcoin, which could reinforce its big leap this cycle.
