XRP may be on the brink of a significant price surge, with predictions suggesting a potential increase. Crypto analyst Egrag Crypto shared his insights and suggested that XRP could reach $10.4 if Bitcoin climbs to $80,000.
On Thursday, Egrag Crypto shared his Atlantic and Pacific line analysis in an X post that focuses on the price correlation of XRP to Bitcoin. According to the analyst, the macro trend indicates that XRP has formed a bottoming pattern, which could lead to substantial price growth in the near future.
The analyst expects this bullish momentum to begin in the fourth quarter of this year. Historically, Bitcoin and XRP have tended to make significant price movements during this period, giving weight to his predictions.
Egrag’s analysis goes even further, exploring a scenario where XRP could reach an impressive $27.3. However, for this to happen, the price of BTC would have to reach $210,000. The analyst has further pointed out that for the price correlation between XRP and Bitcoin to regain the much-desired level, it has to reach a particular $0.00013 range for this upper target to be realized.
Earlier this year, in May, Egrag outlined two potential targets for the XRP/Bitcoin correlation. The first target was a modest $0.000005, while the second, more ambitious target was $0.00013. According to his projections, XRP could trade at various price levels ranging from $10.4 to $27.3 depending on Bitcoin’s price, which he believes could reach between $80,000 and $210,000.
XRP Sees $60M in Whale Transfers Amid Market ConsolidationIn his analysis, Egrag emphasized the importance of the Fibonacci Channel as a leading indicator. He noted that if XRP were to replicate even half of its 2017 price surge, it could reach the 0.618 Fibonacci level, with a potential target of around $27. He also highlighted a key price level at $0.75, stating that if XRP closes above this mark with strong momentum, it could pave the way for even higher prices.
As of press time, XRP is priced at $0.574, reflecting a 0.85% increase over the last 24 hours. However, the cryptocurrency has declined 4.04% over the past week. XRP has also recorded a 24-hour trading volume of $1,140,528,405, indicating active market participation despite the recent price fluctuations.
These trends could help XRP traders and investors assess whether these bullish forecasts will transpire in the following months. Historical trends and technical indicators suggest the potential for significant price movements, so the cryptocurrency community is paying close attention to XRP’s future trajectory.
