XRP Price Bottom Calling?
XRP’s recent performance against Bitcoin (BTC) has been marked by significant declines, raising investor concerns. While Bitcoin has been on an upward trajectory since December 2022, experiencing a remarkable 261% increase in its price, XRP’s
Despite XRP’s attempt to break out in July 2023, reaching a high of $0.93, the rally was short-lived, and the price retraced sharply to a low of $0.4225 in August 2023. Meanwhile, Bitcoin is on a bullish run, leading to a prolonged period of decline for XRP against Bitcoin. XRP has recorded losses against Bitcoin for nine consecutive months since August 2023, highlighting its struggle to keep pace with Bitcoin’s performance.
Watch These Post-Bottom Scenarios
Drawing parallels with XRP’s performance during the 2017 market cycle, analysts point to the potential for significant price surges following a bottoming-out phase. Analyst Charting Guy, for instance, has set a fractal target of 0.00006486 BTC per XRP in the event of a rally, which would translate to $4.09 at Bitcoin’s current price level.
Moreover, if Bitcoin achieves its projected targets for the ongoing bull run, reaching $85,000 to $100,000 during this bull run, XRP could surge to $5.51 to $6.48, assuming it hits 0.00006486 BTC. Presently trading at $0.5213, XRP aims to recover from a 20.44% loss over the past month. To achieve this, it must overcome key resistance levels, particularly $0.5582 (Fibonacci 0.5), followed by $0.5916 en route to $0.60. $XRP
