Cryptocurrency experts are optimistic about XRP's potential to reach new heights. The altcoin's strong recovery from a recent low of $1.28 instills hope that it could rise to $20, contingent upon recapturing its 2017 high against Bitcoin. Notably, XRP has surpassed key psychological levels at $1.3 and $1.4, now striving for stability above $1.5.
Crypto analyst CryptoBull suggests that if XRP reclaims its 2017 BTC peak, it could soar to $20. However, XRP has faced competitiveness challenges against Bitcoin since its 2018 peak of $3.31. Despite this, new data highlights a 111% surge against Bitcoin, suggesting potential for a breakout.
Overcoming significant resistance levels is crucial for XRP's continued rise. Breaking above a descending trendline seen since July last year could indicate further gains, supporting a bullish breakout. Currently, XRP's trading value against Bitcoin at 0.00001544 BTC is lower than historical highs, yet analyst CryptoBull remains hopeful of a rally similar to early 2017.
XRP's market sentiment is also buoyed by broader cryptocurrency industry recovery and potential improved regulatory conditions amidst the upcoming resignation of SEC Chair Gary Gensler. Trading at approximately $1.47, a 7% 24-hour increase, analysts remain bullish, closely monitoring XRP's critical market phase.
