**Market Analyst Predicts XRP Could Reach Double Digits as It Builds a Strong Base Against Bitcoin**
A prominent market analyst has forecasted that XRP’s price may soar to double-digit figures as it works to establish a robust foundation against Bitcoin. Recently, XRP has faced a decline against Bitcoin, dropping over 9% in the last two weeks. However, when viewed over a longer period, XRP has impressively gained 251% against Bitcoin in the past four months. The recent downturn in the XRP/BTC pair can be attributed to XRP experiencing sharper price declines than Bitcoin amid the current market volatility. Despite this short-term setback, analysts are optimistic about a strong long-term setup for XRP in its trading pair with Bitcoin.
**XRP Building a Strong Base Against Bitcoin**
In a recent analysis, market expert EGRAG highlighted that XRP is currently undergoing a distinctive historical phase. He noted that in previous market cycles, XRP surged past a significant resistance level against Bitcoin before eventually retreating into a bear market. This time, however, instead of an immediate breakout, XRP is consolidating at historically high levels against Bitcoin. This unprecedented pattern suggests the potential for a more solid price foundation, which could lead to a sustained rally.
**Current XRP Price Dynamics Against Bitcoin | Insights from EGRAG**
EGRAG pointed out that XRP is presently trading between 0.00003 BTC and 0.000023 BTC, creating a crucial support zone at these levels. As of the latest report, XRP is priced at 0.00002580 BTC, reflecting a 3.70% decrease for the day.
**Bullish and Bearish Scenarios**
The analyst emphasized the importance of XRP maintaining its position within the 0.00003 and 0.000023 range to foster a stable foundation. If XRP closes this month below 0.000023 BTC, bearish sentiment could emerge, although a recovery remains feasible. Conversely, a close below 0.000016 BTC could lead to a significantly negative market outlook. On a more optimistic note, EGRAG indicated that if XRP manages to close above 0.000024 BTC, it would signal the establishment of a new bullish foundation. Currently, XRP is trading above this level, but it will need to maintain its price through February to confirm this bullish trend. Additionally, if XRP surpasses 0.000034 BTC and closes above this level by the end of February, a major breakout could occur, aligning with historical trends and paving the way for substantial price movements.
**Potential XRP Price Targets: 0.00036 BTC, Corresponding to $34**
Should this breakout take place, XRP could achieve significant price targets. The first key level to watch is 0.000046 BTC, which, assuming Bitcoin remains at $95,125, would equate to a price of $4.37 per XRP. A further rally to 0.000136 BTC could elevate XRP’s value to $12.93. In an extremely bullish scenario, XRP could reach 0.00036 BTC, translating to a price of $34. If Bitcoin’s value exceeds $95,125, these price targets could increase even further, depending on the performance of the XRP/BTC pair. EGRAG remains confident in the current market dynamics.
