Double-Digit XRP Price If the Altcoin Fulfills One Condition
Crypto analysts are thrilled about the possibility of a double-digit XRP price, which could see the token’s price reach up to $20. However, the altcoin must regain its 2017 high against Bitcoin to achieve that feat.
The hopeful prediction of a double-digit XRP price follows the altcoin capitalizing on the current crypto rebound, which saw XRP gain 5% in 24 hours, beating all the major cryptocurrencies. In the meantime, as expected, the arrival of Thanksgiving saw Bitcoin spared from the imminent crypto massacre everyone had feared would take place.
The crypto market is currently riding on a recovery wave that saw XRP bounce from the lows of $1.28 earlier in the week to exchange hands between $1.3 and $1.4 psychological levels during Friday trading. Analysts expect the altcoin to solidify its position and climb to $1.5. In the meantime, Bitcoin showed signs of recovery and rose from Thursday’s price of $93,500 to trade above $96,000 on Friday.
According to crypto analyst CryptoBull, analysis surrounding the price of XRP in the USD/BTC pair shows that this could be an early Bull Run. CryptoBull opines that while the market was still 1,500% behind value relative to early 2017, we could easily see a double-digit XRP price. “If we meet the same Bitcoin value, the $XRP price will be around $20.”
XRP has had a difficult time catching up with the flagship cryptocurrency since January 2018, when it achieved an all-time high of $3.31. Moreover, the altcoin’s price has dipped continuously relative to BTC recently. However, current data indicates a change in the trend, with XRP amazingly surging 111% against BTC, indicating the possibility of a breakout leading to a double-digit XRP price. CryptoBull suggests that for XRP to confirm the breakout, it must close November above the trend line against Bitcoin.
source:thebitjournal.com