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.