Bitcoin Bull Makes Bullish Statement About XRP

Joe Carlasare, a well-known commercial litigator and Bitcoin supporter, recently shared a noteworthy perspective on the XRP/BTC pair.

Accompanying his commentary was a long-term chart that has garnered significant attention in the cryptocurrency community. Carlasare stated, “It’s hard to say this long-term chart of XRP/BTC is bearish. You can make an argument for [an] all-time high against BTC.”

This statement highlights a shift in sentiment for XRP’s performance relative to Bitcoin. While Bitcoin bulls often dominate the discourse, the shared chart reveals structural strength in XRP’s long-term pairing with Bitcoin. It reflects a potential breakout scenario, especially with XRP’s exceptional performance over the past few months.

Bullish Outlook For XRP

The XRP/BTC pair has seen notable developments recently. After years of declining performance, the pair has reversed its downtrend, showing a significant rally this month. It started the year at 0.000022 BTC and has risen significantly over the past few weeks, currently at 0.00003132 BTC, after reaching a multi-year high of $0.00003309.

Notably, a well-respected analyst recently showed that XRP has kept parity with Bitcoin. At the start of the year, 1 BTC could buy 43,000 XRP, the same amount of XRP as in 2014.

Although XRP’s price seemed to lag behind Bitcoin at certain points in its history, it always caught up. With XRP’s recent rise, 1 BTC now buys about 33,300 XRP. This could further decline as XRP’s price rises.

Analysts Predict Higher Targets

Alongside Carlasare’s observation, other prominent analysts have echoed bullish projections for XRP. One analyst recently predicted a rally to $4 for XRP, contingent on the XRP/BTC pair clearing a crucial technical level.

XRP has cleared this level and sustained the bullish momentum. The asset is trading at $3.28 and is making a run for the $4 target. If it continues climbing, it could surpass $4 and reach $8 in the short term, more than double its current all-time high of $3.84.

EGRAG CRYPTO (@egragcrypto), another well-respected analyst, anticipates an even more aggressive target of $13 to $15 by March 10, provided XRP surpasses the key resistance level at $4.

These predictions align with the chart’s signals, reinforcing expectations for a continuation of the uptrend. Historical patterns in the XRP/BTC pair suggest that XRP breaking major resistance levels can lead to sustained price increases over time.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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