Seasoned crypto investor and market analyst Dennis, aka Virtual Bacon, has revealed that he is preparing to buy XRP, a coin he’s long kept at arm’s length.
He shared this updated perspective during a recent live stream. While he has closely tracked XRP since the 2022 bear market, he has never added it to his portfolio. That may soon change.
Meanwhile, Dennis believes XRP still needs to undergo one final shakeout over the next three to six months. He pointed to the hype-driven rally in Q4 2024 and noted that XRP still needs time to settle, allow the hype to fade, and let its fundamentals reestablish, especially as Bitcoin continues to rally and lift the altcoin market.
He believes the final dip could provide an ideal entry point for XRP to move significantly higher.
Ideal Entry Point
The analyst specifically noted that over the past six months, a key pivot level for XRP has been around $2. The price has touched this level multiple times, acting as both strong support and resistance.
He emphasized that there’s a good chance XRP will dip just below $2, which would mark his ideal entry point. However, Dennis also explained that the main factor for XRP run largely depends on the XRP/BTC ratio.
XRP vs. Bitcoin Must Break Key Level
Since the Q4 rally, Dennis observed that XRP/BTC has formed a rounded top pattern, printing higher highs but with diminishing momentum. The key support level sits around 0.000022 BTC, which has held since November 2024. However, XRP is now approaching that level closely. As of press time, XRP/BTC is at 0.00002231 BTC.
Dennis noted that a break below this level, about a 20–23% drop from current levels, would be his trigger to buy XRP.
He emphasized that these aren’t arbitrary numbers but are based on typical altcoin-to-Bitcoin ratio retracements using Fibonacci levels.
Historical Scenarios
Strengthening his argument, he drew parallels to past market cycles, referencing similar setups in Ethereum and Solana before their major runs.
For example, Solana dropped to its 0.382–0.5 Fibonacci retracement level against BTC before rebounding strongly. Dennis expects XRP to follow a similar path, a move that could bring its USD price just under $1.85 if Bitcoin remains around $100K.
Meanwhile, if Bitcoin rallies further, climbing to $125K and $130K while XRP moves sideways, the XRP/BTC ratio would still fall, also triggering his buy.
In both cases, Dennis believes XRP is undervalued relative to BTC and primed for a rebound, especially as market fundamentals improve.
Why XRP, and Why Now?
As a self-described XRP skeptic, Dennis is now considering a position due to a combination of technical signals, narrative timing, and strengthening fundamentals. The key factors driving his change in stance are XRP’s retail appeal and growing regulatory clarity.
He emphasized that XRP remains a strong “retail coin,” favored by casual investors who often equate lower token prices with affordability and value.
In addition, he noted that XRP’s legal battle with the SEC is essentially resolved, with the asset no longer considered a security. The recent listing of XRP futures on the CME has further added legitimacy.
Dennis also cited Ripple’s rumored bid to acquire Circle and the potential for an XRP spot ETF as additional bullish catalysts. He noted Ripple’s strong cash position, which gives the company room to fuel future growth.
XRP’s Potential Comeback Story
Dennis suggests that XRP’s eventual breakout could lead to renewed interest in similar tokens such as Cardano, Stellar, and HBAR. He compares this potential resurgence to Dogecoin’s revival as the original meme coin, which paved the way for Shiba Inu, PEPE, and others during the 2021 altcoin season.
He sees XRP as a potential standard-bearer for the “payment coin” sector’s comeback.
While Dennis remains skeptical of moonshot predictions like “XRP to $100,” he acknowledges the increasing momentum behind the coin. For now, he’s waiting for a breakdown in the XRP/BTC ratio before making his move.
“Retail hasn’t come back yet,” he said. “But when they do, XRP is usually first in line.”
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
