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<p>The post <a href="https://coinpedia.org/news/xrp-on-the-radar-as-analysts-predict-big-moves-if-bitcoin-takes-a-dip/" rel="noopener noreferrer nofollow">XRP on the Radar As Analysts Predict Big Moves If Bitcoin Takes a Dip</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Renowned market analyst EGRAG has recently highlighted the robust position of XRP, outlining potential scenarios for its next move in case of a Bitcoin (BTC) downturn.&nbsp;</p>
<p>EGRAG’s assessment comes on the heels of an earlier price analysis, wherein the analyst boldly predicted a substantial rally for XRP, envisioning a climb to $5 within the next 90 days – an ambitious call given XRP’s then-price of $0.5624.</p>
<h2 class="wp-block-heading" id="h-xrp-stands-tall-in-volatile-market">XRP Stands Tall in Volatile Market</h2>
<p>In the midst of a volatile market, <a href="https://twitter.com/egragcrypto/status/1747172292394701202" rel="noopener noreferrer nofollow">EGRAG initially observed</a> XRP trading below the crucial $0.60 threshold, especially following the January 3 Bitcoin slump triggered by negative reports on the BTC ETF outlook. Despite challenges in reclaiming this price point, EGRAG found XRP appealing.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BEAR?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BEAR</a> Market Bounce Vs <a href="https://twitter.com/hashtag/BULL?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BULL</a> Market Bounce (UPDATED CHART):<a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> is strong, but if <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> drops, it could affect <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> for sure. Although <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> may move with <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> to some degree, its percentage drop this time might be less than that of other <a href="https://twitter.com/hashtag/Alts?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Alts</a>.<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> is near an inflection point.… <a href="https://t.co/sHr06hswha" rel="noopener noreferrer nofollow">https://t.co/sHr06hswha</a> <a href="https://t.co/sNp3JpzJno" rel="noopener noreferrer nofollow">pic.twitter.com/sNp3JpzJno</a></p>— EGRAG CRYPTO (@egragcrypto) <a href="https://twitter.com/egragcrypto/status/1747172292394701202?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 16, 2024</a>
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<p>Meanwhile, this digital asset experienced a surge to $0.6240 shortly after the initial analysis but retreated on January 12 when Bitcoin and the broader market faced a downturn.</p>
<p>Notably, XRP witnessed two significant price drops this year – a 6.77% decline on January 3 and a 5.32% slump on January 12 – each linked to a Bitcoin collapse.&nbsp;</p>
<p>In light of these events, EGRAG’s recent analysis suggests that this trend may persist, albeit at a more measured pace. This underscores the current resilience of XRP while acknowledging its vulnerability should <a href="https://coinpedia.org/news/bitcoin-price-lingers-below-50k-despite-etf-approval-max-keiser-unveils-the-factors/" rel="noopener noreferrer nofollow">Bitcoin face another drop</a>.</p>
<h2 class="wp-block-heading" id="h-xrp-btc-historical-connection">XRP-BTC Historical Connection</h2>
<p>Recognizing XRP’s historical susceptibility to Bitcoin-related market shifts, EGRAG maintains confidence in XRP’s ability to withstand such challenges better than other digital coins in the event of another Bitcoin downturn.</p>
<p>While exercising caution regarding short-term market fluctuations, EGRAG maintains an optimistic outlook for XRP’s long-term trajectory. Examination of chart data reveals that XRP is currently trading around its macro support line, a crucial factor in EGRAG’s prediction of an imminent bull market bounce – a brief recovery within a broader upward trend.&nbsp;</p>
<p>This anticipated surge, expected to last several months, aligns seamlessly with EGRAG’s forecast of XRP reaching the <a href="https://coinpedia.org/press-release/the-graph-rebel-satoshi-draw-investor-focus/" rel="noopener noreferrer nofollow">coveted $5 mark</a>, marking an impressive 770% increase from its current value of $0.5742.</p>
<h2 class="wp-block-heading" id="h-long-term-bullish-momentum">Long-Term Bullish Momentum</h2>
<p>EGRAG says that XRP being above its 200-day EMA <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">at $0.5718</a> is a good sign, showing that it’s in a strong upward trend. This makes him think there might be a longer period of growth, called a bull run. But, when we look at shorter-term signals like the daily MACD and the 50-day EMA, they suggest we should be a bit more careful about what might happen with XRP in the next little while.</p>
<p>As everyone watches and waits, we’ll see how XRP handles the changes and tries to reach its ambitious goals.</p>

XRP on the Radar As Analysts Predict Big Moves If Bitcoin Takes a Dip

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