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A crypto analyst presented a convincing case, suggesting that The XRP price Can be closely reflected in Bitcoin’s historical macro action. By comparing its diagram models and its multi -year market behavior, the analyst maintains that XRP could prepare for a Significant price rally at $ 71 and beyond.
The XRP price traces Bitcoin Path to reach $ 71
TradingView Crypto Analyst Rizenpai A foreseen This XRP could increase explosively to $ 71. At its current market price, this would represent an astonishing increase of 3,281%.
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The tradingView expert carried out a detailed comparative analysis, drawing striking similarities between the Bitcoin rupture of its multi-year accumulation range in 2015-2017 and the current XRP price structure. He emphasizes that XRP movements because it was listed on Poloniex in 2014, are closely reflected Bitcoin macro-prix action But at a slower rate, estimated at 65%.
To accentuate, the price table shows that Bitcoin experienced a sharp increase of 5,424% after consolidating between 2013 and 2016 and finally the break in 2017. Likewise, XRP experienced a large increase in 2017, but has since been blocked in a large multi -year range for almost six years at the end of 2022.
Recently, XRP has emerged from its long -term price range and has been consolidation Above its old high resistance resistance for several months. Given his current price action, the analyst assumes that the asset can try to go to New escape levels.
The tradingView analyst highlighted XRP potential to reach a more realistic goal of $ 27 to $ 30, almost 1.618 Fibonacci extension level. For reference, he shared a graph comparing the walk and past performance of the Bitcoin Haussier market with the current XRP escape and the action of future prices.
The graph reveals that when BTC broke out, it jumped to the Fibonacci level from 1.618 to $ 61,800 before launching a secondary race which exceeded the jump level of 1.902. Consequently, Rizenpai predicts that if XRP can be completely reflected Bitcoin performanceIt could soar at $ 27, up to $ 71, where the jump level of 1.902 is located.
The token to reach $ 71 to $ 120 $ 120
As mentioned earlier, XRP is still negotiated within a multi -year range similar to Bitcoin in its past cycle. During writing, XRP price is at $ 2.13, having denied more than 11% in the last month.
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In particular, if the Altcoin reproduces the impetus of the rupture previously observed in Bitcoin, Rizenpai predicts an explosive increase of 5,400%, pushing its price to a very ambitious target of $ 120.94. This suggests that the TradingView analyst believes that XRP could exceed his previously projected goal of $ 71 and pass in front of $ 120.
Adding to the weight of this optimistic forecasts is the presence of a monthly divergence of average mobile convergence (MacD) Hidden divergence. This technical indicator is often associated with a continuation of the upward trend and a potential rise.
Adobe Stock star image, tradingView.com graphic