Amid dramatic selling across the broader market, XRP tumbled, putting long-term holders' patience to the test again. As fear spread, some veteran XRP investors say the drop is a familiar phase that has repeated in the past and was a period that ultimately brought rewards over the long term.

On Feb. 6 (local time), blockchain media outlet The Crypto Basic reported that crypto analyst CryptoBull issued a market analysis after XRP fell to $1.11 and plunged more than 20 percent in about 24 hours. XRP is down about 70 percent from its recent high of $3.66. The move is seen as being driven by a global crypto market slump triggered as bitcoin slid from $79,700 to around $60,000.

Despite the sharp fall, CryptoBull assessed the pullback as part of a repeating cycle XRP has experienced multiple times in the past. He stressed it is a familiar stretch for long-term holders and a moment that demands patience.

In a post on X, formerly Twitter, CryptoBull cited past cases of sharp XRP declines and said he has never sold during downturns. XRP previously fell from $0.25 to $0.11, from $0.65 to $0.17, and from $1.96 to $0.28, and he said he endured all of those periods.

CryptoBull said he sold part of his holdings during the recent rally from $2.30 to $3.37, but sees the market as having entered a "waiting phase" again. According to his analysis, the first major target price to confirm the next bullish move is $4, and over the longer term the possibility of a rise to above $10 remains open.

The latest drop has made XRP one of the hardest-hit assets among major altcoins. With forced liquidations and risk-off sentiment continuing, XRP's cumulative decline over the past week has exceeded 30 percent.

The market is split over whether XRP can find stability after temporarily dipping below $1, seen as a psychological support level. Some investors are wary of further declines, while others interpret the current price range as part of a larger upcycle.

CryptoBull has also argued in earlier analyses that XRP's long-term market structure is similar to stages that precede past bull markets. He said a differentiating factor in this cycle is that the consolidation period below a key resistance line has become much longer than in the past.

He said sharp impulsive gains have emerged after prolonged sideways movement in the past, and that the longer accumulated period this time could allow for a larger price expansion if momentum recovers. From that perspective, he has presented $11 as a long-term impulse target price.

Some seasoned investors are quietly buying at current levels even as the market is gripped by fear. Pompius (Pompius), known as a long-term investor, disclosed an XRP buy order worth $1 million around the $1 level. Other investors, including YouTuber Zach Rector (잭 렉터), said they see the area below $1 as a buying opportunity. Ripple CEO Brad Garlinghouse has also previously made remarks that hinted at buying during price declines.

Since I’ve been around, #XRP crashed from $0.25 to $0.11, from $0.65 to $0.17 and from $1.96 to $0.28. I never sold. I don’t sell during drops. I did sell some up from $2.30 to $3.37. Now it’s time to wait again until we get above $4 and to $10.