According to EGRAG Crypto, a top analyst, XRP’s recent performance against Bitcoin (BTC) is setting up for a potential bullish shift. Egrag notes that XRP/BTC is down by approximately 42% since May 2024, a dip that EGRAG previously predicted.
This trend, however, is not necessarily negative. The analyst suggests it paves the way for a liquidity rotation where XRP could see substantial gains as BTC moves closer to the anticipated $100,000 mark.
In his update, EGRAG Crypto highlighted a roadmap for XRP, indicating that as BTC/USD hits new highs, BTC dominance could diminish. This in turn could shift liquidity toward alternative assets like XRP.
His analysis suggests XRP may lead gains among top assets, with a potential price target of $2.2 if BTC reaches $100,000.
What you'll learn 👉
XRP and BTC’s Price Movements
At press time, XRP trades at $0.5526, marking a 0.67% rise in the past 24 hours and a 7.69% increase over the past week.
Bitcoin, on the other hand, is trading at $76,510.36. It has seen a 0.59% increase in the last 24 hours and a 9.71% rise over the past week, based on data from CoinGecko.
Both tokens show positive momentum, with Bitcoin nearing historical highs, which EGRAG Crypto suggests could catalyze XRP’s upward movement in the coming months.
Read also: Here’s Why Cronos (CRO) Crypto Price Is Pumping
Calculated Gains for XRP and BTC
With Bitcoin’s path potentially leading to $100,000, EGRAG predicts XRP could hit the $2.2 mark. This would represent a substantial increase from its current price of $0.5526, suggesting an approximate gain of 298% for XRP if BTC reaches its target.
This projection aligns with EGRAG’s forecast for a liquidity rotation, where capital could flow from BTC into XRP as the former attains its peak valuation. For those tracking both assets, this potential liquidity shift could signal notable opportunities.
With Bitcoin’s value steadily climbing, investors may see heightened interest in XRP as a leading alternative with strong growth prospects.
EGRAG Crypto’s analysis underscores a broader sentiment within the XRP community, often referred to as the #XRPArmy, encouraging them to remain patient and focused. His view reflects a positive outlook for XRP, highlighting its readiness to emerge as a top-performing asset among the leading 100 cryptocurrencies.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
