In a recent tweet, crypto enthusiast CoinsKid shared an XRP/BTC weekly chart, hinting at a potentially significant price movement for XRP against Bitcoin.
XRP Price Chart Breakdown
In the attached chart, XRP/BTC has been in a downward trend for an extended period, moving towards support levels around the 0.0000620 and 0.0000440 BTC range. Meanwhile, the RSI diverged from the price action, suggesting increasing momentum even as the price declined. CoinsKid also highlighted Bitcoin’s approach to the 1.414 Fibonacci level, which could impact the broader crypto market.
Community Reactions and Regulatory Considerations
CoinsKid’s tweet attracted massive reactions, including from users like Puppeteer, who noted that XRP’s future trajectory is likely dependent on regulatory developments, especially given Ripple’s ongoing legal issues with the SEC.
Technical Analysis and Potential Price Targets
Analyzing the chart further, the support levels around 0.0000620 and 0.0000440 BTC may provide a foundation for XRP to bounce if buying momentum builds. CoinsKid suggests optimism for a significant price pump, possibly eyeing a target as high as $4 and potentially new all-time highs for XRP. Several factors, including legal outcomes in Ripple’s SEC case, will influence this potential rally.
Analysts and community members see potential for XRP growth, contingent on market and regulatory factors.
