A financial analyst anticipates that XRP will surpass Bitcoin, predicting an increase in the XRPBTC ratio to 0.0006040. This would correspond to an XRP value of $36, assuming Bitcoin’s price remains relatively stable.
Market observer Alex Cobb highlighted this forecast, originally made by Cryptobilbuwoo, a respected analyst known for accurate market predictions, especially during bullish trends.
The report points out specific patterns in the weekly XRPBTC chart, suggesting an upcoming surge. This chart measures XRP’s value relative to Bitcoin, with an increasing ratio indicating XRP’s superior performance.
XRP experienced a notable rise in its ratio against Bitcoin in the week preceding July 16, 2023, reaching a high of $0.93 on July 13 following a favorable legal decision by Judge Analisa Torres. The ratio hit a two-year high of 0.00002970 but then fell sharply.
Subsequently, XRP’s value decreased by 74.11% compared to Bitcoin from its July peak, bringing the XRPBTC ratio down to 0.00000768.
**XRPBTC Weekly Chart**
Cryptobilbuwoo predicts a rebound for XRP based on historical patterns. In 2017, similar trends preceded a significant rise in XRP’s value. The XRPBTC ratio plummeted before skyrocketing by 5,055% and then experiencing another substantial increase.
**XRP’s Potential Climb to $36**
The current market conditions have mirrored divergence patterns seen in the past, leading to the prediction of another dramatic increase in the XRPBTC ratio to 0.0006040.
With Bitcoin’s price at $60,600, a ratio of 0.0006040 would place XRP at $36.6. However, if Bitcoin’s value rises, XRP’s price could soar even higher at the same ratio.
Market analyst Tylie Eric also foresees XRP reaching $36, citing the cryptocurrency’s readiness for such a milestone. Despite trading below $0.50, XRP’s Commodity Channel Index (CCI) at -116 suggests it might be undervalued and poised for a rebound.
**XRP Daily CCI**
**Disclaimer:** This article is for informational purposes only and should not be taken as financial advice. The opinions expressed are personal and do not necessarily align with those of The Crypto Basic. Readers should conduct their own research before making investment decisions. The Crypto Basic assumes no responsibility for any financial losses incurred.
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