Crypto analyst Young Marks has predicted that The price of XRP may rise 680% against Bitcoin, reaching $10 in the process. The analyst also noted that the altcoin could go higher and reach the $15 target.
XRP Price Eyes 680% Rally Against Bitcoin
In one X postYoung Marks stated that the price of XRP against Bitcoin looks set for a more than 680% run, which could trigger a bigger rally for the altcoin. He noted that this can lead to movement $10 price point for XRP. The analyst added that this price rally is in line with the current measured target, which is above $15.
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XRP price rally shows up to $15 new all time highs (ATHs) for altcoins. Marks pointed out in a previous analysis how XRP outperformed Bitcoin by more than 240% when it was up more than 570%. Thus, the analyst is confident that the altcoin can again significantly outperform the leading crypto.
The accompanying chart showed that the price of XRP could record a 680% rally against Bitcoin in the next year, which could indicate a new bull market period for the crypto market. Notably, XRP was one of the standout performers at the start of the year, outperforming Bitcoin and other major crypto assets, as CNBC described it. trade of the year.
Currently, the price of XRP is facing downward pressure along with Bitcoin and the broader crypto market. ongoing war between the USA and Iran. XRP has typically mirrored the price action of BTC during this period, falling when Bitcoin is performing and rallying when it is performing.
XRP price action is still correcting
In one X postcrypto analyst Egrag crypto stated that the price of XRP is still inside the lower channel and the momentum is currently corrective rather than impulsive. As long as the altcoin remains within this channel, the analyst declared that XRP is in it distribution phase instead of breaking down.
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For the XRP price to rise, Egrag Crypto stated that the first trigger would be $1.55. great disrespect weekly bearish structure above $2.20. A rally to this level could trigger a continuation high that would open the door to a rally to $2.70 to $3.60, and then a new ATH would be on the cards.
For the bearish scenario, Egrag Crypto predicted that the price of XRP could fall from the $0.95 to $0.85 macro support if the altcoin faces a rejection from the $1.55 level. He argued that the altcoin is more likely to sink a deeper hole into the downside than a premature reversal.
At the time of writing, the price of XRP is said to be around $1.35, which has fallen in the last 24 hours. information from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com
