Noted analyst Mickle predicts a potential ‘parabolic movement’ for the digital currency XRP. This prediction is based on XRP’s past relation to Bitcoin, wherein XRP often shows major resurgence after its ratio to BTC hits a cyclical low. This trend suggests that XRP could outperform Bitcoin in the near future. Such a movement isn’t unprecedented but is subject to market conditions.
Historic incidents demonstrating this trend include June 2014, when the XRP/BTC ratio dropped drastically but rose by 2020% by December. A similar trend was seen in 2020 and 2019’s bear markets, where XRP outperformed Bitcoin despite a continued overall downturn. 2020, despite being a year of economic upset, saw XRP bounce back from a low to outperform Bitcoin again.
Recently, in June 2021, a similar fall in the XRP/BTC ratio was observed. However, history doesn’t guarantee future performance. While some market observers predict XRP will increase, such speculations are always highly tentative.
Predicting XRP’s potential parabolic trajectory
While XRP’s recent drop intrigues crypto enthusiasts, investments should be made with full understanding of the inherent risks. Potential investors should be informed that optimistic expectations must be paired with a practical understanding of the market’s intricacies.
Optimistically, week by week, XRP has registered positive results in the face of these declines. Currently, the XRP/BTC ratio is at 0.00001013 BTC, marking a 5% rise. XRP’s upward trend against BTC seems promising, but any investment carefully balances risk and reward.
Another analyst, Moonshilla, agrees with this trend, seeing the potential for XRP despite its past relatively lackluster performance. Moonshilla predicts a potential XRP value rise that could exceed $100. This means a market capitalization of nearly $6.5 trillion for XRP. Such a surge would require intense buying activities across various markets. While possible, current volatility in the cryptocurrency market suggests that this event is improbable, yet not impossible.
According to Moonshilla, Bitcoin would need a six-fold increase to maintain its market dominance, equating to $350,000 per Bitcoin. Both Bitcoin and XRP’s futures show promise, though they come with significant uncertainties.
