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Prominent angel investor and critic of XRP shares why he is now ready to buy XRP
Date: May 20, 2025
Veteran cryptocurrency investor and market analyst Dennis, also known as Virtual Bacon, revealed that he is preparing to buy XRP, a currency he has kept out of reach for a long time.
He shared this updated perspective during a recent live broadcast. Despite closely following XRP since the market crash of 2022, he has never added it to his portfolio. This may change soon.
Meanwhile, Dennis believes that XRP still needs to undergo a final restructuring phase over the next three to six months. He noted the rise seen in the fourth quarter of 2024 due to the media hype, indicating that XRP still needs some time to stabilize, allows the hype to fade, and rebuild its fundamentals, especially as Bitcoin continues to rise along with support for alternative cryptocurrencies.
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He believes that the recent drop could provide an ideal entry point for XRP to move significantly higher.
Ideal entry point
The analyst specifically pointed out that during the past six months, a key pivot level for XRP has been around $2. The price has touched this level several times, forming strong support and resistance simultaneously.
He confirmed that there is a significant possibility for XRP's price to drop below $2, representing an ideal entry point for him. However, Dennis also clarified that the main factor behind XRP's rise heavily depends on the XRP to BTC ratio.
XRP against Bitcoin must break a key level
Since the rise in the fourth quarter, Dennis has noticed that the XRP/BTC pair has formed a rounded top pattern, recording higher highs but with decreasing momentum. The main support level is at 0.000022 BTC, which has been resilient since November 2024. However, XRP is now approaching this level. As of publication, the price of XRP/BTC is 0.00002231 BTC.
Dennis noted that a drop below this level, approximately 20-23% from current levels, would serve as an incentive for him to buy XRP.
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He confirmed that these are not random numbers but are based on typical ratios of altcoin retracements to Bitcoin using Fibonacci levels.
Historical scenarios
To bolster his argument, he drew parallels with past market cycles, pointing to similar setups in Ethereum and Solana before their major rallies.
For example, Solana's price dropped to a Fibonacci retracement level of 0.382-0.5 against Bitcoin before recovering strongly. Dennis expects XRP to follow a similar path, a move that could drop its price in USD to just below $1.85 if Bitcoin's price remains around $100,000.
Meanwhile, if the value of Bitcoin rises further to $125,000 and $130,000 while the price of XRP moves sideways, the XRP/BTC ratio will also decrease, potentially leading to his purchase.
In either case, Dennis believes that XRP is undervalued compared to BTC and is ready to recover, especially as market fundamentals improve.
Why XRP, and why now?
As a skeptic of XRP, Dennis is now considering taking a position based on a combination of technical signals, narrative timing, and strong fundamentals. The key factors influencing his change in stance are XRP's appeal among individual users and increasing clarity in regulatory guidelines.
He has confirmed that XRP remains a strong 'retail coin,' favored by everyday investors who often compare low token prices with affordability and value.
Additionally, he noted that the legal battle of XRP with the SEC has essentially been resolved, as it is no longer considered a financial asset. The recent listing of XRP futures on the Chicago Mercantile Exchange (CME) has bolstered its legitimacy.
Dennis also pointed to Ripple's rumored offer to acquire Circle, and the potential launch of an instant trading fund for XRP, as additional catalysts for optimism. He noted Ripple's strong cash position, giving it room to support its future growth.
The potential comeback story of XRP
Dennis indicates that the sudden rise of XRP could lead to renewed interest in similar tokens such as Cardano, Stellar, and HBAR. He compares this potential recovery to Dogecoin's return as the original meme coin, which paved the way for Shiba Inu and Pepe during the 2021 altcoin season.
He sees XRP as a potential banner for the return of the 'payment coins' sector.
While Dennis remains skeptical about ambitious breakout predictions, such as "XRP to $100," he acknowledges the growing momentum behind the coin. For now, he is waiting for the XRP to BTC ratio to collapse before taking any action.
He said: "Retail trading has not yet recovered. But when it does, XRP is usually the first in line."
