XRP Price Could Outperform Bitcoin by 1,500% If It Breaks This Key Level, Says Crypto Analyst
A popular cryptocurrency analyst has recently suggested that the price of XRP, the native token of the XRP Ledger, could soon outperform the flagship cryptocurrency Bitcoin (BTC) and surge as much as 1,500% against it if it breaks through a key level.
In a post shared on the microblogging platform X (formerly known as Twitter) with their over 22,000 followers, the pseudonymous analyst Cryptoinsightuk said that the XRP/BTC pair is now sitting at the bottom of its range.
Per his words, it appears to be a “matter of time for XRP to make a 88%+ move” against the flagship cryptocurrency, which would see the cryptocurrency greatly outperform Bitcoin. The analyst added that a break and hold above the major resistance at around 0.000027 BTC, then XRP could surge as much as 1,500% against Bitcoin.
We are sitting at the bottom of the $XRP / $BTC range.
It looks as if an it is only a matter of time for $XRP to make a 88%+ move vs $BTC.
The real fun begins if we can break and hold above the top Grey box though.
If we can break this box we could see a move up to 1,500% VS… pic.twitter.com/wPT3Jm2Oxv
— Cryptoinsightuk (@Cryptoinsightuk) December 17, 2023
That surge could see XRP hit the $10 mark, significantly above its current price tag of just $0.60 per token. Notably, Cryptoinsightuk suggested last month that XRP could move up between 1,000% and 1,485% to surpass the $10 mark, based on its Relative Strength Index (RSI).
According to Investopedia, the RSI is a momentum indicator that’s used in technical analysis to measure the “magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset.”
The RSI can have a reading between 0 and 100, with values above 70 indicating that an asset is starting to become overbought or overvalued, and values below 30 indicating an asset is becoming oversold or undervalued.
As CryptoGlobe reported, another popular analyst recently suggested that a “parabolic move is imminent” for the native token of the XRP Ledger, over a rare bullish pattern that was formed on the cryptocurrency’s price charts.
Featured image via Pixabay.
