XRP News Today: XRP Draws Traders Attention With Potential 20-23% Drop

XRP, a prominent altcoin, is attracting the attention of seasoned traders who have previously overlooked it. VirtualBacon, a well-known crypto analyst, has indicated that he might consider buying XRP under specific conditions. His decision is not based on XRP's dollar price but rather on its performance against Bitcoin (XRP/BTC).

VirtualBacon has observed that the XRP/BTC chart has been in a long downtrend since 2017. However, recent developments show signs of a rounded top with strong support at 0.000022 BTC. If this level breaks and XRP drops another 20–23%, it could enter the “value zone,” between 0.000017 and 0.000019 BTC. VirtualBacon plans to buy around the $1.80 price level if this scenario plays out.

VirtualBacon’s trade plan involves waiting for XRP/BTC to drop 20–22%, entering around the $1.80 price zone, and watching for a breakout in the BTC ratio. He believes this is the cleanest XRP setup he’s seen in years and is preparing to act within the next 3 to 6 months. This trade isn’t just about making gains; VirtualBacon believes a breakout for XRP could revive other older coins that have been forgotten in recent years, such as Cardano and Stellar.

Unlike Ethereum and Solana, which have gained strong reputations with institutions and retail respectively, XRP has always stood out for its mass recognition. With its legal battle nearly over, ETF talks underway, and market positioning improving, XRP may be setting up for more than just a pump; it could be staging a comeback. This potential resurgence is not only about XRP but also about the broader altcoin market, which could see a revival of forgotten coins.