Cryptocurrency XRP has seen its price fall more than 70% from its cycle high, and some market observers see echoes of a past collapse that led to massive gains.
According to CoinMarketCap, XRP dropped to roughly $1.09 this week amid a broad market sell-off. That pushed Bitcoin below $60,000 after it was above $70,000 only days earlier. Over the past seven days, XRP is down about 19.3%. It has fallen 23% in the last month and 41% year-to-date.
A Familiar Pattern?
Crypto commentator Digital Outlook, however, draws a comparison to late 2020. Back then, the U.S. Securities and Exchange Commission filed a lawsuit against Ripple, causing XRP to crash to around $0.17. Digital Outlook said he aggressively bought during that panic. Four months later, XRP hit roughly $1.97 — a gain of about 1,200%. He told his followers, “I’ve seen this movie before, guys.”
He argues the current fear might be overdone, just as it was then. The commentator did not give a specific price prediction. But if XRP were to rise another 1,200% from its current low, it could potentially reach the $14 range in a future bull run. Of course, history does not guarantee anything.
Community Looks to Build
The downturn has rattled many investors, but some XRP supporters see it as an accumulation phase. One XRPL validator, known as Vet, urged the community to focus on development and education rather than short-term price swings. He said that each market cycle, people who predict the industry’s end have been proven wrong. For those feeling overwhelmed, he suggested taking a break from the charts and returning later with a longer perspective.
The broader crypto market is also under pressure. Bitcoin is down 34% year-to-date, 25% over the past month, and 17% over the past week. Whether the parallels to 2020 hold remains to be seen. But right now, the mood among some XRP bulls is cautiously hopeful.
