The post XRP Price of $20 Possible as Analyst Looks to 2017 BTC Levels appeared on BitcoinEthereumNews.com.

The XRP/BTC pair rose 111% in November, breaching a multi-year downward trendline amid the XRP price surge to $1.5. Analysts predict that if XRP surpasses its previous all-time high of $3.84, it could rally to $20. Ripple’s native cryptocurrency has been on a roll in the last two weeks with the XRP price gaining 150% in the last 15 days surging all the way to $1.5. Crypto market analysts predict that if XRP manages to surge past its previous all-time high of $3.84, it could trigger a further rally all the way to $20. XRP Price Shows Strong Breakout on the Technical Chart With a strong recovery across the broader crypto market after Doland Trump’s victory, XRP has been leveraging investor optimism while reclaiming crucial support levels. After showing a minor drop to $1.28, the XRP price has reclaimed crucial resistance of $1.3 and $1.4, moving all the way to $1.5 with investors minting $1.9 billion in gains, per the CNF report. Furthermore, another positive indicator is that the XRP/BTC pair has sustained its rally with both assets moving in tandem recently since November 12. This bullish trend has triggered optimism among investors that XRP could outperform Bitcoin in this bull. Popular crypto analyst CryptoBull predicted an ambitious target if the XRP price reclaims its all-time high levels from 2017. Data reveals that XRP has significantly underperformed Bitcoin since January 2018, when it fell from its all-time high of $3.31. The XRP/BTC chart highlights a persistent downward trendline, indicating a sharp decline in XRP’s value relative to Bitcoin over the past seven years. Courtesy: TradingView As shown in the above image, the XRP price has breached the trendline, gaining a staggering 111% against Bitcoin in November so far. However, to confirm this breakout, the altcoin must stay above this trendline…

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Filed under: News - @ November 28, 2024 9:26 pm