XRP Eyes 100% Rally Against Bitcoin, 2017 Playbook Cited
The post XRP Eyes 100% Rally Against Bitcoin, 2017 Playbook Cited appeared on BitcoinEthereumNews.com.
The price of XRP is gaining significantly in correlation with the Bitcoin uptrend. Several factors align to favor XRP including RLUSD and potential ETF launch. Since Donald Trump’s US presidential election win in November, the price of XRP has increased by over 350% against Bitcoin. The XRP/BTC pair exhibits similarities to the 2017 bull market, indicating a possible explosive rally in the coming months. XRP Breaks Key Resistance Amid Bitcoin Boom Moreover, emerging fundamentals and technical indicators suggest that the pair could double in value by March. The XRP/BTC pair has surged almost 32% since the start of this month. According to the Relative Strength Index (RSI), the pair has surpassed key resistance levels and entered the overbought zone. This performance resembles a similar occurrence in early 2017, before a 2,500% rally. An RSI above 70 typically signals an upcoming market consolidation or correction phase. Nevertheless, in some situations, robust market fundamentals can drive prices upward. This scenario occurred in 2017 when the RSI rose above 70 without immediately resulting in consolidation or correction. The market saw a boom in Initial Coin Offerings (ICOs) at the time, which helped XRP sustain its climb of 2,500% against Bitcoin. The fundamentals in 2025 are quite different, but they still favor XRP’s potential. For example, the potential conclusion of the Ripple vs. SEC case under Donald Trump’s new administration ushers in several possibilities for XRP. Under a new SEC chairman, an XRP Exchange-Traded Fund (ETF) could be approved. As detailed in our earlier piece, if approved, JPMorgan claims an XRP ETF could see inflows reaching between $4 and $8 billion in the first year. In addition to the potential XRP ETF, Ripple recently introduced its stablecoin, RLUSD, as CNF discussed earlier. This stablecoin, backed by the New York Department of Financial Services (NYDFS),…
Filed under: News - @ January 18, 2025 6:21 am