Renowned crypto educator and analyst Cryptoinsight recently took to X handle to reveal his latest observation about XRP price movement.
According to Cryptoinsight’s shared post, XRP is on the verge of a significant rally that could parallel Bitcoin’s price movement. He also noted a potential timeline for the predicted price movement.
$XRP Blast of T-4 days.
— Cryptoinsightuk (@Cryptoinsightuk) November 10, 2023
As we discussed on our first $XRP blast off chart, $XRP lags $BTC price action. However, it looks like $XRP break outs are getting closer and closer to the $BTC moves.
On our first big breakout, it took 22 days, on the last pump it took 13 days. If we… pic.twitter.com/eYBpVfitMj
Read Also: Analyst Sets Next Targets As XRP Price Breaks Above 21-Day EMA
Citing Historical Trends Of XRP And BTC Price Movements
The crypto analyst highlighted the XRP price movement that ensued in mid-July following the court ruling, which saw XRP surge by over 90% to attain a 2023 price high of $0.93 within an eight-hour interval.
According to Cryptoinsight, the price movement above parallels that of Bitcoin, and it took XRP 22 days to achieve such a feat. He noted that before the breakout in July, XRP had lagged behind Bitcoin, which describes the 22-day window required for XRP to catch up with Bitcoin’s market trends.
Furthermore, the crypto educator noted the window above was decreased to 13 days in the subsequent rally.
XRP’s New Breakout Appears Imminent
According to Cryptoinsight, the next major breakout for XRP appears poised to happen sooner than expected. The crypto expert noted that if the gap between these breakouts follows a similar bridging pattern, the next could play out on November 15.
Part of his tweet read thus, “If we continue to close the gap it would give us a rough breakout date of November 15.”
Meanwhile, the analyst hinted at XRP stabilizing within a 4-hour interval. In addition, he raised some suspicious questions, to which he responded indirectly. Cryptoinsight asked, “Is the stage set for a potential XRP rally? Or do we still have to accommodate some corrections?”
In what could be said to be a response to the above questions, Cryptoinsight stated, “The market is getting exciting, and the sentiment isn’t necessarily following; this is good for potential expansion!”
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Jeremy Hogan: SEC Faces Another Loss As No XRP Holder Lost Money Because Ripple
Analyzing The XRP/BTC Price Chart
Currently, BTC is well ahead of XRP on the daily timeframe. However, XRP profited more than 30% against BTC after staging a transient rally on October 29, which saw it surge to about $0.73 on November 6.
After the above temporary impressive market display, XRP has since recorded intraday losses to Bitcoin. At the time of writing, XRP is changing hands at $0.67, implying an 8.22% decline from the token’s price on November 6.
On the other hand, BTC’s price while drafting this report was revealed to be approximately $37,000. Based on calculations, the XRP/BTC value will be 0.000018.
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