According to crypto analyst CryptoinsightUK, Ripple’s XRP token could see a 1500% surge against Bitcoin (BTC) if it breaks past its resistance level. The analyst highlights that XRP is at the lower end of its range against BTC and could see an 88% surge against the original cryptocurrency.
Also Read: Ripple XRP Forecasted To Surpass its ATH of $3.40, Here is When
However, the analyst paints an even more bullish picture for XRP if it can “break and hold above the top Grey box.” If XRP breaks past this level, the token could surge 1500% against Bitcoin (BTC).
Analyst predicts 3500% rally for Ripple’s XRP
While speaking to cryptocurrency analyst Zach Rector, Reaper Financial founder Patrick Riley has given a bullish outlook for XRP. Riley says that XRP could surpass $22 in the next bull market. The price increase would translate to a growth of about 3566% from current levels.
Also Read: Ripple XRP Could Rally 90%, Hit $1.20 By 2023 End
Moreover, Riley highlighted that introducing Ethereum Virtual Machine (EVM) side chains to Ripple will significantly boost the network. The Reaper Financial founder also said the Ethereum (ETH) network was slow and expensive. He added that many projects will turn to XRP with EVM as a faster and cheaper alternative.
Furthermore, Riley added that XRP could overtake Bitcoin (BTC) as the number one cryptocurrency. If XRP’s price surpasses BTC’s, it would require a growth of about 6833233% (6.8 million percent). However, XRP overtaking BTC’s price seems very unlikely to happen soon.
Additionally, there is still a lot of uncertainty regarding the status of Ripple’s XRP token as a non-security. Ripple’s lawsuit with the SEC (Securities and Exchange Commission) has entered the high court. While a district court ruled partially in favor of the fintech company, there is no telling how things may unfold in the high court.