- XRP’s value may surge as gold declines, boosting XRP/XAU pair’s performance.
- Potential correction could send XRP to $1.4, presenting a buy-the-dip opportunity.
- Key support levels at $2.45 and $2.33 suggest a possible rebound for XRP.
XRP’s potential for significant growth remains a topic of discussion among analysts, with some predicting a substantial price movement relative to gold (XAU). EGRAG CRYPTO, a top analyst, suggests that the XRP/XAU trading pair could experience a notable surge, driven by gold’s anticipated downturn. Meanwhile, other experts highlight key support levels, indicating that the market remains divided on XRP’s future trajectory.
XRP/XAU Chart Analysis Suggests Bullish Momentum
EGRAG CRYPTO’s analysis focuses on the XRP/XAU pair rather than its valuation against the US dollar. The analyst notes that when gold depreciates in dollar terms, XRP’s value relative to gold rises. This dynamic suggests a possible uptrend in XRP’s dollar valuation, provided gold declines as predicted.
The chart shows a strong bounce from the equilibrium level, mirroring past bullish trends. Notably, a similar rebound occurred at the 7-day Exponential Moving Average (EMA), further reinforcing bullish momentum. EGRAG CRYPTO also draws a comparison to XRP’s 2017 rally, where three consecutive green candles signaled substantial gains. If history repeats, a similar price increase could be imminent.
#XRP / #XAU: 1000% Possible Candle? 🔥
— EGRAG CRYPTO (@egragcrypto) February 10, 2025
Not many analyze the #XRP / #XAU pair, but the chart looks primed for a bounce! Let's break it down:
1⃣Understanding the Pair 🔍
🔷This analysis focuses on #XRP / #XAU, not against the US Dollar.
🔷If #XAU decreases in #USD terms, the… pic.twitter.com/5bgkp2G64U
Gold’s Topping Formation and Potential Impact on XRP
EGRAG CRYPTO believes that gold is forming a topping pattern, which could lead to a significant retracement. The analyst previously forecasted gold reaching $3,000, a prediction met with skepticism at the time. However, if gold’s decline materializes, XRP could see a substantial rally as its relative value against gold increases.
A key aspect of this analysis is the correlation between gold and the US dollar. If XAU/USD declines, XRP/USD is expected to rise due to the inverse relationship between the two assets. This interaction could amplify XRP’s upward movement, presenting an opportunity for traders.
XRP Price Outlook and Possible Decline to $1.4
Despite potential bullish trends, some experts caution that XRP may face a correction before any significant surge. The token’s price has struggled to gain momentum despite positive developments, including increased interest in an XRP ETF. According to EGRAG CRYPTO, past price trends indicate a possible pullback to $1.4 if history repeats itself.
The analyst points to previous corrections following a 230% XRP surge in July 2023. A similar 54.65% retracement could send XRP to $1.54, while a more severe 59.73% decline might push it to $1.37. These levels align with past buying opportunities, suggesting that any correction could attract investors.
Key Support Levels and Potential Rebound
While some experts anticipate a drop, others highlight critical support levels that could prevent a steep decline. Dark Defender, another analyst, identifies $2.4467 as a crucial Fibonacci level, indicating a possible reversal. Additionally, the Relative Strength Index (RSI) on the daily chart suggests XRP is oversold, further supporting the likelihood of a rebound.
Hey everyone! I hope you’re doing well. 🌟
— Dark Defender (@DefendDark) February 9, 2025
Let’s take a moment to check our $2.4467 Fibonacci level. Looking at the daily chart, it seems like the RSI hints that we are close to the oversold zone, which could lead to a nice reversal! 🔄
$2.4467 is key to moving forward.
Our… pic.twitter.com/dsPdEnUra1
Dark Defender also notes that $2.33 serves as a strong support level, reinforcing the argument for a potential price bounce. If these levels hold, XRP could maintain its bullish structure and avoid a significant downturn.
As of press time, XRP is priced at $2.44, with a 24-hour trading volume of $4.86 billion. This reflects a 1.11% decline in the last 24 hours but a 3.22% increase over the past 7 days. With a circulating supply of 58 billion XRP, its market capitalization stands at $140.42 billion.
