Will XRP Price Soar 5X As Bitcoin Approaches $100K and $150K?

XRP price on November 13 broke out of a four-month resistance level, establishing a high of $0.7362. Price has retraced to $0.7211 as market participants prepare for the next leg higher. The pump in price was likely initiated by Bitcoin after its sudden jump to a new all-time high of $93,477. As BTC hurtles toward $150,000, will the Ripple price breakout soar 5X?

Bitcoin’s Path to $150K: What It Means for XRP Price

Bitcoin has been on a tear since Donald Trump won the U.S. presidential elections on November 5. Consequently, the entire market is green, with the total market up 3% in the last 24 hours. Bitcoin is up 4.2% daily and is trading at $89,943. Market observers anticipate the king of crypto could reach $100,000 before the end of November.

Historically, 235 days after Bitcoin halving, the dominance hits a snag and begins to drop. 

The altcoins, including XRP, will likely begin soaring during this time. At 208 days after the 2024 halving, BTC dominance could rise about a month before topping out, coinciding with the asset soaring to $100,000 or $150,000. 

Ripple Price Outlook: Can It Surge Alongside Bitcoin?

The chances of XRP price surging alongside BTC are high because the asset has just broken out of a four-month downward trend resistance. It is expected that XRP will rise and hit $1.15 as the first target, and beyond that, $1.5-$2.

Crypto analyst Egrag predicts that XRP will soar to $17 by the time Bitcoin reaches $100,000 and $27 by the time BTC hits $150,000.

His XRP/BTC pair analysis shows a horizontal support level since 2014. He notes that if the price breaks above 0.000010 with great volume, it would send the XRP price to a new high, as it previously happened in the 2015, 2017, and 2021 bull run cycles.

Will XRP Sustain Its Bullish Momentum?

Ripple is gathering momentum as events unfold in the U.S. government that could lead to a price explosion. For instance, at the Bitcoin 2024 conference, President-elect Donald Trump promised to dismiss the current SEC chair from office once he’s officially inaugurated.

Gensler has been a stumbling block to many crypto projects, with Ripple being their chief. Ripple CEO Brad Garlinghouse confirmed a meeting with Donald Trump on November 13, information which excited the community and spurred the current XRP price breakout. 

Frequently Asked Questions (FAQs)

1. Can XRP price reach $1.15-$2 in November?

Yes, analysts expect XRP to hit $1.15 as an initial target and potentially rise to $1.5-$2, particularly with the continued rise of Bitcoin and the expected altseason starting in a few weeks.

2. What is the long-term price forecast for XRP?

Crypto analyst Egrag predicts that XRP could soar to $17 when Bitcoin reaches $100,000 and potentially $27 when Bitcoin hits $150,000, based on historical trends and support levels.

3. Is there a potential political impact on XRP's price?

Yes, Ripple’s relationship with U.S. politics is evolving. Ripple CEO Brad Garlinghouse's confirmed meeting with Donald Trump has led to speculation that changes in regulatory policies, such as the removal of SEC chair Gary Gensler, could benefit Ripple and lead to significant price increases for XRP.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

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