According to crypto analyst Cryptoinsightuk, Ripple’s XRP token appears ripe for a significant price surge when valued against bitcoin. In a recent tweet, Cryptoinsightuk highlighted XRP’s position near the bottom of its historical trading range versus BTC:
“We are sitting at the bottom of the Ripple $XRP / $BTC range. It looks as if an it is only a matter of time for $XRP to make a 88%+ move vs $BTC.”
Cryptoinsightuk points out that XRP is currently bouncing along support near the bottom of the multi-year range versus bitcoin, as can be seen in the chart below:
If XRP can break out above the top end of this range, the analyst sees much bigger gains in store:
He stated that the real fun begins if the price can break and hold above the top grey box. A break above this box could see a move up to 1,500% versus BTC.
The coming days and weeks could be make-or-break for XRP as it battles to break out against BTC. Crypto traders will be watching closely to see if and when Ripple can finally overcome this key hurdle.
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