The XRP/BTC price chart is displaying a fascinating pattern reminiscent of the mixing of the Atlantic and Pacific Oceans, according to a recent tweet by EGRAG Crypto. The analyst has identified two macro targets for the XRP/BTC pair, both of which are considered highly bullish for XRP holders.
Ripple and Bitcoin Draws Parallels Between The Atlantic and Pacific Line
EGRAG Crypto’s analysis draws an intriguing parallel between the XRP/BTC price chart and the meeting of the Atlantic and Pacific Oceans in the Gulf of Alaska. Due to differences in water density, salinity, and temperature, these two bodies of water do not mix visibly at certain points. Similarly, the XRP/BTC chart is presenting two distinct macro targets that could indicate a major shift in the cryptocurrency’s price trajectory.
#XRP / #BTC Atlantic & Pacific Line "Hint: The Atlantic and Pacific Oceans don't mix visibly at certain points, like in the Gulf of Alaska, due to differences in water density, salinity, and temperature.Our #XRP / #BTC Chart is next mixing like the Atlantic & Pacific Oceans… pic.twitter.com/of5V1cMrdj
— EGRAG CRYPTO (@egragcrypto) May 27, 2024
Two Bullish Macro Targets
The first target identified by EGRAG Crypto is 0.00000500 BTC per XRP. This lower target is considered bullish because it suggests that XRP has bottomed out on the macro view, and the only direction from here is up. Reaching this target would signify a strong support level for XRP and could potentially serve as a launching pad for future price appreciation.
The second, more ambitious target is set at 0.00013000 BTC per XRP. This upper target aligns with previous all-time high (ATH) touch points, indicating that XRP could be poised for a breakout. If XRP were to reach this target, it would represent a substantial increase in value relative to Bitcoin.
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Show more +Show less – XRP Price Projections in USD
To put these targets into perspective, EGRAG Crypto has provided a range of potential XRP prices in USD based on different Bitcoin price levels:
If Bitcoin reaches $80,000, XRP at 0.00013000 BTC would be worth $10.40.
At a Bitcoin price of $100,000, XRP would be valued at $13.00.
If Bitcoin surges to $125,000, XRP could reach $16.25.
With Bitcoin at $150,000, XRP would be priced at $19.50.
If Bitcoin skyrockets to $210,000, XRP could soar to $27.30.
These projections highlight the potential for gains in XRP’s value, particularly if Bitcoin continues its upward trajectory.
Potential Catalysts for XRP’s Breakout
In addition to the technical analysis provided by EGRAG Crypto, other factors could contribute to XRP’s potential breakout. JackTheRippler, another prominent analyst, has expressed confidence that the U.S. Senate will pass the Fit21 bill, which is considered pro-XRP.
If this bill is indeed passed, it could be a game-changer for XRP, as it would potentially put an end to the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC).
With two bullish macro targets identified and potential catalysts on the horizon, XRP could be on the verge of a massive breakout.
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The post Ripple Chart Analysis Points to Major Gains for XRP Against Bitcoin appeared first on CaptainAltcoin.
