XRP Price Hinges on Bitcoin's Next Move: Will $1.80 or $1.30 Be the Next Target?
XRP's price action has been influenced by Bitcoin's recent strength, causing some analysts to reassess their forecasts.
A technical analyst who previously predicted XRP would fall to between $0.70 and $0.90 before marking a cycle low acknowledged that the target was not reached due to Bitcoin's price movement.
The analyst pointed out that Bitcoin has held above its 50-week moving average for three to four weeks, recently breaking past its previous high from May, a pattern that historically signals the end of a bear market in past cycles dating back to 2014. XRP, on the other hand, has struggled to reclaim the same technical level over the same period.
The analyst stated that XRP's near-term path now depends heavily on Bitcoin's next move, with a daily close above $1.59 to $1.60 supporting a push toward $1.80 and a break above prior wick highs near $1.66 serving as further confirmation.