Analyst Egrag predicts XRP could soar over 5,153% if Bitcoin reclaims key price levels and reaches the $160K threshold.
Today, XRP encountered a significant setback, with its price breaching below the $0.5 level for the first time in two months. On Friday, XRP plummeted to $0.4936, marking a 7.18% loss from its earlier price of $0.5318.
This decline in XRP’s price mirrored Bitcoin’s performance, as the leading cryptocurrency fell to $65,521 from nearly $69K on Friday. However, a recovery is already underway in the crypto market. XRP is now trading at $0.5140 as Bitcoin surged back to around the $67K level.
Notably, the price movements of both assets underscore how Bitcoin can influence XRP’s price action. Analyst Egrag, a prominent figure in the XRP community, recently suggested potential price targets for XRP based on Bitcoin’s bullish trajectory.
XRP to Soar 2,200% if Bitcoin Reclaims $70K
In an analysis shared on X, Egrag outlined ambitious targets for Bitcoin this season and the corresponding XRP values. Some of his projections suggest even more significant price levels for XRP than for Bitcoin.
At the top of his list is the expectation for Bitcoin to reclaim the $70K level. Bitcoin has been unable to reach this level since May. Meanwhile, Egrag, like many market observers, believes Bitcoin could ultimately hit this mark before the end of the year. In this scenario, he projects XRP could trade as high as $12.
With XRP currently around $0.514, reaching $12 alongside Bitcoin reclaiming $70K would represent an astonishing 2,234% increase for XRP, compared to just a 5% increase for Bitcoin from its current level.
Egrag’s ambitious XRP target is significantly influenced by the potential breakout above the 0.000010 level in the XRP/BTC pair. Historically, breaking this level has triggered strong upward movements, and he anticipates a similar breakout in this cycle. Currently, XRP/BTC is at 0.00000767 BTC, up by 1.86%, with XRP having the upper hand.
XRP Price Projections if Bitcoin Hits $100K, $160K, and $200K
Egrag also predicts even higher levels for XRP if Bitcoin reaches the coveted $100K price point, suggesting that XRP could trade as high as $17. Should Bitcoin advance further to $130K, he believes XRP’s price would rise to $22.
If Bitcoin soars by 140% from its current level to $160K, Egrag projects that XRP would achieve an astonishing 5,153% growth, reaching $27. The highest target mentioned in his latest analysis is $200K for Bitcoin.
If this level is attained, representing a 200% increase from its current level, Egrag expects XRP to trade at $34. This would mark an astonishing 6,515% increase from its current price.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.