A leading analyst predicts that XRP could reach $2.2 if Bitcoin surpasses a key price threshold, driving market optimism amid anticipation of a resolution in the Ripple-SEC lawsuit and other emerging trends.
XRP News: Analyst Projects Rally to $2.2
Key Highlights:
- Top analyst sees XRP reaching $2.2, emphasizing its link with Bitcoin’s price movements.
- Decline in Bitcoin’s dominance expected to boost XRP, according to the analyst.
- Bitcoin is forecasted to hit between $150K and $180K in the near future.
Ripple’s native crypto, XRP, has gained significant momentum recently, supported by a broader financial market rally. A top crypto analyst, EGRAG CRYPTO, suggests that XRP could rally to $2.2 if Bitcoin breaches the $100,000 mark. He highlights a correlation between XRP and Bitcoin, with potential gains anticipated for both.
In a recent social media update, EGRAG CRYPTO explained that a 42% decline in XRP against BTC could lead to a “massive rotation.” He forecasts that as BTC/USD approaches a new all-time high, Bitcoin’s dominance may decrease, triggering a liquidity shift that could propel XRP to 0.000022 BTC, or about $2.2 if Bitcoin reaches $100K.
XRP in the Spotlight Amid Legal and Market Developments
The ongoing Ripple vs. SEC lawsuit has remained a focal point in XRP discussions. Although some speculate the lawsuit has dampened XRP’s price potential, attorney Bill Morgan noted the difficulty in pinpointing exact price influencers for XRP, though he acknowledged the lawsuit’s potential impact.
The recent U.S. election win by Donald Trump has bolstered optimism in the crypto sector, with expectations of SEC Chair Gary Gensler’s potential departure, which some believe could positively affect the crypto market. Analysts also expect a possible resolution or settlement in Ripple’s legal case under new regulatory leadership.
Further excitement surrounds the possibility of an XRP ETF approval in the U.S., with speculation that BlackRock could file for one soon. Rumors also suggest Ripple may launch a dirham-backed stablecoin in the UAE, following recent updates from the company.
In the meantime, XRP was trading at $0.551, up 0.6% at the time of writing. Despite the optimism for a $2.2 rally, recent analysis suggests that Fed Chair Jerome Powell’s remarks may delay a surge to $1.3. Additionally, muted Futures Open Interest data indicates investors are awaiting more clarity before making larger investments in XRP.
