Prominent crypto analyst Mickle has asserted that XRP could witness a substantial price surge to $44 against Bitcoin in this bull market.
This bold price prediction updated his earlier analysis, in which he predicted incoming parabolic price gains for XRP against Bitcoin. Mickle reached these bold conclusions after analyzing the XRP/BTC price charts on the historical timeframe.
The analyst found that XRP has recently reached a historically bullish bottom pattern in its price action relative to Bitcoin. Specifically, the XRP/BTC value hit a low of 0.00000661 BTC a few weeks ago.
Notably, this pattern is the fourth instance in XRP’s history where the asset has hit extremely low values against Bitcoin, followed by a significant uptrend. Historical data suggests that these low points have consistently marked the beginning of a substantial price increase for XRP.
For instance, in June 2014, XRP’s price against Bitcoin dropped to around 0.00000430 BTC. By the end of the year, XRP massively outperformed Bitcoin, rallying by over 20X to 0.00009155 BTC.
In the second instance, XRP crashed to around 0.000005 in early 2017, only to rise by around 45 times to above 0.000246 BTC by mid-2017.
A comparable pattern emerged during the 2020 bear market, with XRP outperforming Bitcoin a few months after hitting a bottom. With the fourth-bottom pattern now in place, market analysts are speculating about XRP’s potential price movement in this scenario.
XRP to Outperform Bitcoin with 72X Surge?
In his analysis, Mickle presents a scenario where Bitcoin sparks a massive bull run, surging to $150,000. To put this in perspective, Bitcoin’s current price is around $59,000, which means it would need to experience 154% growth to reach this level.
However, Mickle predicts that in this scenario, XRP would not only follow Bitcoin’s upward trend but actually outperform it. Specifically, he projects that XRP could rally to as high as $44. This would represent an astonishing 7,257% gain from its current price of $0.598.
Mickle stressed that the $150K price point for Bitcoin and $44 for XRP are realistic projections. For context, Bitcoin at $150K would translate to a cap of approximately $3 trillion. Meanwhile, at $44, XRP would command a cap of around $4.4 trillion, weakening the likelihood of this scenario.
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