In this article, EGRAG discusses the price action of XRP against Bitcoin (XRP/BTC) and predicts a potential surge for XRP. EGRAG identifies a support zone called the "YOLO Band," which has acted as a launchpad for XRP/BTC in past cycles. The article emphasizes that a close below 0.00000667 would be bearish, but an upside breakout holds significant potential. Currently, XRP/BTC sits near 0.000008, below the important 0.00001 mark that EGRAG sees as a potential launch point. The analyst references historical market cycles (Cycle A, Cycle B, and Cycle C) to suggest that XRP/BTC is preparing for another breakout, potentially reaching 0.000022 in the near term. EGRAG's chart indicates that XRP is trading within a descending channel, and a breakout could see XRP reaching 0.00017, signaling an epic price rally. Based on Bitcoin's potential value, EGRAG outlines potential price levels for XRP, ranging from $12 to $34, depending on Bitcoin's price. However, EGRAG also cautions that a failure to hold the 0.00000667 mark could indicate bearish momentum.
- Content Editor ( thecryptobasic.com )
- 2024-10-25
Analyst Predicts XRP Price if Bitcoin Hits $200K, Citing XRP/BTC Ratio