Seasoned Crypto Investor Dennis, aka Virtual Bacon, Is Preparing to Buy XRP

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.

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.

During a recent live stream, Dennis shared his updated perspective on the subject. While he has closely tracked XRP and discussed it in his analysis throughout the 2022 bear market, he has never added it to his portfolio. However, that may soon change as he believes the time is finally right.

The analyst explained that he feels 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, which rose too quickly. According to Dennis, 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.

In his view, this final dip could provide the 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.

"There's a good chance that we'll get one last drop in XRP, and we'll come into the $1.5 to $1.7 range," said Dennis. "And if Bitcoin is still around $100K, then we'll be talking about an XRP price around $1.5 to $1.7, which I think is a pretty good entry point."

However, Dennis emphasized that the main factor for XRP run largely depends on the XRP/BTC ratio.

"The main thing I'm looking at is the Bitcoin ratio, and I think we're going to get a final drop of about 20 to 23% in the ratio."

Since the Q4 rally, Dennis observed that XRP/BTC has been forming a rounded top pattern, with each new swing high lower than the previous one, indicating diminishing momentum. The key support level sits around 0.000022 BTC, which has held since November 2024.

"We're getting very close to the 0.382 Fib, which is around 2200, and I think that will be the final bounce," said Dennis. "We're going to get one more push lower, and I'm thinking we'll get a close in this range, leading into the next three to six months, at which point I may finally add some XRP to my portfolio."

As of press time, XRP/BTC is trading at 0.00002231 BTC. A drop of 20–23% from here would bring the ratio to the 0.382 Fib level, marking a multiple of Fib in the move.

"It's not some random number I pulled out of a hat," said Dennis. "We're talking about a 0.382 to 0.5 Fib retracement of the entire move, which I think makes sense given the typical altcoin-to-Bitcoin ratio moves."

To further strengthen his argument, Dennis drew parallels to past market cycles, referencing similar setups in Ethereum and Solana before their major runs.

"Remember when everyone was hyping up ETH to 1K and it kept getting rejected? Well, we finally broke through that level after a final dip below the 0.382 Fib, leading to a strong rebound," stated Dennis.

"Or take Solana, which dropped to its 0.382–0.5 Fibonacci retracement level against BTC before rebounding strongly. I'm expecting XRP to follow a similar path, a move that could bring its USD price just under $1.85 if Bitcoin remains around $100K."

Moreover, if Bitcoin rallies further, climbing to $125K and $130K while XRP moves sideways, the XRP/BTC ratio would still fall, also triggering Dennis’s buy.

In both cases, Dennis believes that XRP is being undervalued relative to BTC and is primed for a rebound, especially as market fundamentals improve.

“We’re getting less risky assets, more interest in crypto, and less inflation—all the things that bode well for a final, final move in the market,” he concluded.