- XRP faces a 73% crash if it fails to close above $4 by March 10, as historical data shows major declines near key levels.
- If XRP breaks $4 resistance with strong momentum, it could rally to $13-$15, but market volatility may create hurdles.
- XRP is at a critical juncture; its movement above resistance or retesting support will shape its trajectory in the coming weeks.
In a recent X post, Egrag came with a lot of concerns that if certain condition are not met then the price of XRP can crash by 73%. Analyzing historical prices, it is possible to see that cryptocurrency is at the crossroads and the period of risk and potential gains is coming.
The analysis established that every time XRP neared a technical level known as “Fork C,” it saw its prices plummet. In the past, these drops had stood at 89.59%, 68.97%, 64.35% and 73.39%, and an astounding 74% on average. Egrag notes that another substantial decline may happen if XRP returns to this level without confirmation of strength. However this potential decline may act as a retest which may lead to future price rise.
March Deadline for XRP
In order to avert this trend, XRP should break and sustain above $4 on the weekly chart with backup prior to March 10. This timeline is important because on 14 March there will be a lunar eclipse which is likely to increase the market’s instability. In particular, such astronomical phenomena have been associated with market declines and sell-offs, which will create additional problems for this crucial phase of the XRP.
However, the analysis shows that if token manages to overcome critical resistances, there is potential for a large increase even in the face of a potential crash. If XRP goes past $4 with good volume, analysts expect the price to go as high as $13-$15 in the next few months. However, it is not very likely that market makers and trading conditions will make this journey easy.
Key Resistance and Support
The technical chart also reveals that XRP is at present at a crucial juncture. Should this resistance level hold, XRP could retest the $1.89 support level a key level for the coin. At the time of writing, the Ripple token is changing hands at $2.32, which is 0.13% higher than it was one day ago.
Source: TradingView
While historical data are very informative, never before has a single event or a set of events determined market movements. These are important skills for these times that are not only unpredictable but also seems chaotic at times. As the month of March draws closer, the price of XRP is under the spotlight. Whether it will be able to sustain above the critical levels or breakthrough resistance will probably dictate its short to long term trend. Regardless of whether XRP collapses or holds course for double-digit gains, the following weeks will be critical for the fate of the digital asset.
