Cryptocurrency

Top Crypto Proponent Predicts XRP Price If Bitcoin Hits $100,000

JackTheRippler (@RippleXrpie), a prominent figure on X, recently shared a chart suggesting that XRP could see a 555% pump if Bitcoin reaches $100,000. This prediction, backed by technical analysis, has sparked debate among investors eager to see the digital asset reach this remarkable level.

The chart shared by JackTheRippler illustrates a symmetrical triangle pattern, a common formation in technical analysis known to indicate a potential breakout. The triangle, formed over an extended period, shows XRP’s price consolidating with progressively lower highs and higher lows.

This pattern often suggests a forthcoming significant price movement, either upward or downward.

Potential Target for XRP

According to JackTheRippler, a breakout from this pattern could propel XRP’s price by approximately 555%. This projection, while ambitious, is rooted in historical price movements and market behavior.

The symmetrical triangle’s apex, where the price movement becomes tightly constrained, typically precedes a breakout. Should this breakout align with Bitcoin reaching the $100,000 mark, XRP’s price could see a dramatic increase.

XRP currently trading at $0.5222. A 555% increase would send the digital asset to an astonishing $3.42. Notably, other analysts have set similar targets for the digital asset. This would put it on its way to surpassing its all-time high of $3.84.

Market Sentiment and Influencing Factors

Market sentiment plays a crucial role in the price movements of cryptocurrencies. Bitcoin, being the leading cryptocurrency by market capitalization, significantly influences the broader market. A surge in Bitcoin price often leads to increased investor confidence and a ripple effect across other cryptocurrencies, including XRP.

Several factors could contribute to Bitcoin’s potential rise to $100,000. These include increased institutional adoption, macroeconomic trends favoring digital assets, and positive regulatory developments.

If Bitcoin achieves this milestone, the optimistic sentiment could extend to XRP, potentially validating JackTheRippler’s prediction and finally affirming analysts’ confidence in the cryptocurrency all along.

However, not everyone believes Bitcoin’s rise will benefit XRP. Another prominent analyst recently predicted that Bitcoin’s reducing dominance would pave the way for a massive XRP surge.

This would lower Bitcoin’s price, but allow altcoins like XRP to shine. Despite the differing opinions, the consensus is that the XRP run is about to begin. Only time will tell how it can achieve these targets.

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.


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.

Recent Posts

XRP Tight Consolidation Is A Ticking Time Bomb: XRP Will Rewrite History

Brett (@Brett_Crypto_X), a well-known figure in the crypto community, recently drew attention to a significant…

24 mins ago

Ripple Makes Notable Change to Dismiss SEC Charges

In a significant development for the cryptocurrency industry, Ripple has strengthened its legal defense against…

3 hours ago

Bitboy: “The Case Is Over, XRP Is Going to Get to that $10 Level”

Edoardo Farina, CEO of Alpha Lions Academy, and Ben “Bitboy” Armstrong, a prominent crypto influencer,…

4 hours ago

Crypto In Ripple Custody Hits $652 Million. These 4 Assets Take 97%

Bill Morgan, a prominent attorney known for his pro-XRP stance, recently shared an update showcasing…

4 hours ago

2024 XRP Price Bull Run: Analyst States When to Start and End

Dark Defender (@DefendDark), a prominent crypto analyst on X, recently shared an updated XRP price…

5 hours ago

The Role of Crypto in Digital Identity Solutions

In the digital age, securing and verifying identification has turned out to be a critical…

5 hours ago