A prominent crypto analyst predicts profit opportunities from monitoring XRP closely, projecting a valuation of $10 within this cycle.
In a recent study of XRP, the analyst behind X account “CrediBULL Crypto” suggested that it is now a crucial time to monitor XRP closely for possible outperformance.
“If you like making money, it may be time to start paying attention to XRP,” the analyst proclaimed on X.
Love it or hate it, if you like making money, it may be time to start paying attention to $XRP.
In the video below I take a look at the XRP/BTC, XRP/ETH and XRP/USD charts to make the case for why we may be approaching a period of outperformance on $XRP.
In partnership with… pic.twitter.com/8a7xzdDqo2
— CrediBULL Crypto (@CredibleCrypto) February 20, 2024
XRP Set to Outperform Bitcoin by 200%
The analyst delved into XRP’s price history, highlighting that XRP tends to surge aggressively once determined to do so. He noted that in past instances of such aggressive breakouts, XRP outperformed Bitcoin.
Specifically, he referenced the 2017/2018 periods. This was when XRP experienced explosive growth, soaring from $0.2326 on December 7, 2017, to an all-time high of $3.84 on January 4, 2018.
This remarkable surge amounted to a staggering 1,550% gain in under five weeks.
Meanwhile, historical data suggests that Bitcoin only moved from approximately $10,000 to $14,000 during the same period, representing a 40% gain.
Another cited instance where XRP outperformed Bitcoin during an aggressive rally was in 2014. According to CoinMarketCap, XRP traded at $0.005039 as of November 16, 2014.
However, precisely 33 days later, XRP had surged by 455% to $0.02797. Meanwhile, within the same period, BTC saw a 170% gain from $417 to $1,128.
Essentially, the analyst argued that XRP’s price surges rapidly and aggressively, often becoming elusive once they begin. He suggested that signs of the signal are beginning to emerge, indicating a significant potential upside for XRP in the upcoming weeks.
In particular, he set his target on a potential 200% gain against Bitcoin.
Road to $10 This Season
Furthermore, the analyst indicated that the predicted two-fold increase for XRP is merely a minimum target. Should XRP surpass this minimum and breakthrough historical resistance levels, market participants can anticipate further upward expansion for XRP.
While emphasizing that a 200% gain would serve as the ultimate confirmation for a similar 2017 rally, the analyst acknowledged the possibility of it not materializing.
However, he mentioned that such a breakthrough would open the door to even higher highs, potentially resulting in another 600% gain against Bitcoin.
When asked if XRP can make it to $10 this bull season, the analyst responded affirmatively.
At press time, XRP trades at $0.5638. Whether the asset will outperform Bitcoin by 800% in the coming weeks remains to be seen.