Analyst CryptoBull predicts that XRP could reach $20 if it reclaims its 2017 peak against Bitcoin. Currently recovering from a low of $1.28, XRP has breached essential resistance levels and shows potential for significant gains, especially given its recent 111% increase against BTC. A repeat of historical price patterns could see XRP outperform Bitcoin in late 2024 and early 2025.

A prominent analyst has projected that if XRP can recapture its 2017 peak against Bitcoin, its price could reach $20. Currently, XRP is experiencing a recovery, regaining essential support levels after a dip to $1.28 earlier this week. Following this, XRP surged past the psychological barriers of $1.3 and $1.4, with aspirations to remain above $1.5.

In its recent performance against Bitcoin, XRP has successfully surpassed a significant descending trendline. This bullish momentum, which initiated on November 12, has fueled optimism among investors about XRP potentially surpassing BTC during this bullish cycle. Analyst CryptoBull has expressed a bullish price target owing to XRP’s ability to reclaim its 2017 trading peak against Bitcoin.

Historically, XRP has struggled against Bitcoin since its 2018 peak of $3.31, marked by a steady decline illustrated in the XRP/BTC chart. An earlier attempt to navigate this descending trendline last July failed; however, XRP has gained 111% against Bitcoin this November alone. For the breakout to be confirmed, XRP must close this month above the trendline. Notably, CryptoBull asserts that the current surge is just the beginning of a broader bullish trend.

Currently, XRP trades at 0.00001544 BTC, significantly lower than its early 2017 peak of 0.0002454 BTC, especially as Bitcoin approaches the $100,000 mark. If XRP replicates the significant gains seen in early 2017, revisiting the peak could result in XRP reaching a value of at least $20. This projection derives from the conversion rate of Bitcoin’s peak price, suggesting that at current prices, 0.0002454 BTC translates to approximately $23.

Intriguingly, the 2017 rally for XRP commenced with a remarkable 308% increase against Bitcoin in March 2017. Should such a rally recur, it is anticipated that XRP would outshine Bitcoin by December 2024 and January 2025. Presently, XRP is priced at $1.47, reflecting a 7% increase within the last day.

The analysis of XRP’s potential to reach $20 largely hinges on its performance against Bitcoin and its historical trading patterns. In the past, XRP has faced substantial challenges in maintaining its relative strength against Bitcoin since its peak in early 2018. The key indicator of its success in reclaiming past highs lies in its capacity to break through established trendlines, which signal a shift in momentum. Understanding the dynamics of XRP’s trading behavior against Bitcoin provides context to the analyst’s optimistic forecast.

In summary, the analyst indicates that if XRP successfully regains its 2017 peak against Bitcoin, it could see its price escalate to $20. The current upward trend following its recovery from recent lows, coupled with a potential breakout from a critical trendline, supports this optimistic outlook. While historical trends have seen XRP languishing behind Bitcoin, a resurgence could indeed place it back in a competitive position, leading to significant price appreciation in the near future.

Original Source: thecryptobasic.com

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