Last week, U.Today reported the emergence of a highly rare golden cross on the XRP price chart compared to Bitcoin (BTC), the leading cryptocurrency. Within just seven days, XRP showcased a 15% increase against BTC.
Currently trading at 0.00002834 BTC, XRP is only 20% away from its recent highs compared to Bitcoin. With the golden cross now in play, a common question among market participants is whether this is merely the start of something bigger.
Looking back at the price history of these assets offers no clarity, as there are no prior instances of the 23-day median crossing the 200-day median, which constitutes a golden cross.
XRP’s historical peak against Bitcoin is recorded at 0.00024 BTC, indicating a potential increase of 1,000% from the current price. However, this is unlikely to materialize soon unless a scenario like “XRP becomes the world’s reserve asset” unfolds.
Bitcoin Price Action Suggests $4.20 XRP
Should this altcoin ever return to such valuations, its price would hover around $23.27, attributing a market cap of $1.35 trillion. If this scenario plays out, Bitcoin is likely to continue serving as a speculative asset.
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Upon reviewing the price chart for significant thresholds, the nearest level for XRP stands at 0.000043 BTC, representing a 53% increase from current prices. Given the 15% growth this week alone, this target doesn’t appear far-fetched. If this threshold is achieved, the XRP price could potentially rise to $4.17, provided Bitcoin’s price remains stable.
Interestingly, forecasts from last year suggested a $4.2 XRP could be a possibility, and this figure reemerges now. Is it mere coincidence, or are the pieces of this puzzle falling into place?
