Analyst Eglag predicts that if Bitcoin regains key price levels and reaches the $160,000 mark, XRP could soar more than 5,153%.
Today, XRP encountered a significant pullback, with the price dropping below the $0.5 level for the first time in two months. On Friday, XRP plummeted to $0.4936, a 7.18% decline from its previous price of $0.5318.
This drop in XRP price mirrors Bitcoin's performance, with the major cryptocurrency falling to $65,521 from around $69,000 on Friday. However, recovery has already begun in the cryptocurrency market. XRP is currently trading at $0.5140 while Bitcoin soars to levels around $67,000.
In particular, the price movements of both assets highlight how Bitcoin influences XRP's price movements. Egrag, a prominent analyst in the XRP community, recently hinted at potential price targets for XRP based on Bitcoin’s bullish trajectory.
If Bitcoin regains $70,000, XRP will soar 2,200%
in analysis Egrag, shared on X, outlined ambitious goals for Bitcoin and its corresponding XRP value this season. Some of his predictions suggest even more significant price levels for XRP than for Bitcoin.
https://x.com/thecryptabasic
At the top of his list is the expectation that Bitcoin will return to the $70,000 level. Bitcoin has not been able to reach this level since May. Meanwhile, like many market observers, Egrag believes Bitcoin could eventually reach this level by the end of the year. In this scenario, he predicts that XRP could trade as low as $12.
XRP is currently around $0.514, and reaching $12 at the same time as Bitcoin regains $70,000 would mean an astonishing 2,234% increase for XRP while Bitcoin would only increase by 5% from current levels. It will be.
Egrag’s ambitious XRP target is heavily influenced by the possibility of the XRP/BTC pair breaking above the 0.000010 level. Historically, a breakout of this level has triggered a strong bull market, and he expects a similar breakout to occur this cycle. Currently, XRP/BTC is up 1.86% to 0.00000767 BTC, with XRP in the lead.
XRP price prediction if Bitcoin reaches $100,000, $160,000, and $200,000
Egrag also predicted that XRP would go even higher if Bitcoin reaches the coveted $100,000 price range, suggesting that XRP could trade as low as $17. are. He believes that if Bitcoin rises further to $130,000, the price of XRP will rise to $22.
Egrag predicts that if Bitcoin rises 140% from current levels to $160,000, XRP will achieve an impressive growth of 5,153% and reach $27. The high-end target mentioned in his latest analysis is $200,000 in Bitcoin.
If this level, which represents a 200% increase from current levels, is achieved, Egrag expects XRP to trade at $34. This is a staggering 6,515% increase from the current price.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
