Analysts are considering the possibility of Ethereum rising to $6000, which they believe may lead to a significant increase in Ripple's value. We will examine the rationale behind these forecasts and their realism.
Ethereum's Potential at $6000
Some analysts, such as CryptoGoos, suggest that Ethereum could reach $6000 by Q4 2025. Historical trends and macroeconomic factors, such as anticipated rate cuts by the Federal Reserve, support this optimistic forecast.
Fibonacci Signals for Ripple
Predictions assert that if the ETH/XRP ratio reaches a Fibonacci extension of 2.618, and Ethereum is trading at $6000, Ripple could rise to $16. This is due to the historical tendency of altcoins to follow major leaders during bull runs, aiding Ripple's ascent.
Technical Analysis of XRP and Its Future
As of now, XRP is priced at $2.95, up just 0.26% in the past 24 hours. Key resistance levels are at $3.45, while support is around $2.85. These levels are crucial for short-term traders observing market movements.
The forecasts concerning the growth of Ethereum and Ripple are based on historical data and technical analysis. Although the figures remain speculative, analysts emphasize that such dependencies between the two altcoins are not unusual in the cryptocurrency market.
