Analyst Bold Prediction: XRP Poised to Reach $44, Outshining Bitcoin with a Massive Price Surge
The recent price analysis provides a revised forecast, where XRP is anticipated to experience significant price surges against Bitcoin. This updated projection is based on an in-depth analysis of the XRP/BTC price charts over historical timeframes.
XRP Historical Bullish Bottom Pattern
The analysis indicates that XRP recently reached a historically bullish bottom pattern in its price action compared to Bitcoin. Notably, the XRP/BTC value hit a low of 0.00000661 BTC a few weeks ago. This occurrence marks the fourth instance in XRP’s history where the asset has reached notably low values against Bitcoin, followed by substantial upward trends. Historical data suggests that these low points consistently signal the onset of significant price increases for XRP.
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For instance, in June 2014, XRP’s price against Bitcoin dropped to approximately 0.00000430 BTC. By the year-end, XRP significantly outperformed Bitcoin, soaring by over 20 times to 0.00009155 BTC. A similar pattern emerged in early 2017 when XRP plummeted to around 0.000005, only to rise approximately 45 times to above 0.000246 BTC by mid-2017.
Can XRP Matches Bitcoin Performance
In the 2020 bear market, a comparable pattern materialized, with XRP outperforming Bitcoin a few months after hitting a bottom. Now, with the fourth-bottom pattern established, market analysts are contemplating XRP’s potential price movement in this scenario. In this analysis, a scenario is presented where Bitcoin triggers a significant bull run, reaching $150,000. To contextualize, Bitcoin’s current price hovers around $59,000, indicating a need for 154% growth to reach this level.
However, based on this analysis, XRP is not only expected to follow Bitcoin’s upward trajectory but to surpass it. The projection suggests that XRP could rally to as high as $44. This would present a remarkable 7,257% gain from its current price of $0.598.
It is emphasized that the $150,000 price point for Bitcoin and $44 for XRP are realistic projections. However, Bitcoin reaching $150,000 would result in a market capitalization of approximately $3 trillion. Meanwhile, XRP at $44 would command a market cap of around $4.4 trillion, potentially reducing the likelihood of this scenario.
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