XRP’s recent performance relative to Bitcoin (BTC) has fallen sharply, raising concerns among investors. While Bitcoin has been on an upward trajectory since December 2022, with a massive 261% price increase
XRP’s gains have been relatively modest, rising only 27.8% over the same period. Many experts believe that this divergence remains even as Ripple and XRP are at odds.
Although XRP attempted a breakout in July 2023, reaching a high of $0.93, the rally was short-lived, with prices falling sharply back to a low of $0.4225 in August 2023.
XRP’s falling period relative to Bitcoin. Since August 2023, XRP has recorded nine consecutive months of losses against Bitcoin, highlighting its difficulty in keeping up with Bitcoin’s performance.
However, market expert Tony Severino has predicted a turning point for XRP relative to Bitcoin, suggesting that it may have bottomed out. His analysis gives investors hope that XRP can turn things around.
If Severino’s theory is correct, XRP’s decline could stop and a bullish trend could begin.
Analysts have compared XRP’s performance in the 2017 market cycle, noting that prices could surge after the bottoming phase.
For example, analyst Charting Guy set a fractal target for XRP at 0.00006486 BTC in the event of a rebound, which would be equivalent to $4.09 at Bitcoin’s current price levels.
In addition, if Bitcoin achieves the expected target of the current bull run, reaching $85,000 to $100,000 during this bull run, assuming XRP reaches 0.00006486 BTC, then XRP could surge to $5.51 to $6.48. XRP is currently trading at $0.5213, with a target to recover from the 20.44% drop it suffered in the past month. To achieve this, it must overcome key resistance levels, specifically $0.5582 (Fibonacci 0.5), then $0.5916 and finally $0.60.
