XRP Price of $20 Possible as Analyst Looks to 2017 BTC Levels

• The XRP/BTC pair rose 111% in November, breaching a multi-year downward trendline amid the XRP price surge to $1.5.
• Analysts predict that if XRP surpasses its previous all-time high of $3.84, it could rally to $20.

Ripple’s native cryptocurrency has been on a roll in the last two weeks with the XRP price gaining 150% in the last 15 days surging all the way to $1.5. Crypto market analysts predict that if XRP manages to surge past its previous all-time high of $3.84, it could trigger a further rally all the way to $20.

XRP Price Shows Strong Breakout on the Technical Chart

With a strong recovery across the broader crypto market after Doland Trump’s victory, XRP has been leveraging investor optimism while reclaiming crucial support levels. After showing a minor drop to $1.28, the XRP price has reclaimed crucial resistance of $1.3 and $1.4, moving all the way to $1.5 with investors minting $1.9 billion in gains, per the CNF report.

Furthermore, another positive indicator is that the XRP/BTC pair has sustained its rally with both assets moving in tandem recently since November 12. This bullish trend has triggered optimism among investors that XRP could outperform Bitcoin in this bull. Popular crypto analyst CryptoBull predicted an ambitious target if the XRP price reclaims its all-time high levels from 2017.

Data reveals that XRP has significantly underperformed Bitcoin since January 2018, when it fell from its all-time high of $3.31. The XRP/BTC chart highlights a persistent downward trendline, indicating a sharp decline in XRP’s value relative to Bitcoin over the past seven years.

As shown in the above image, the XRP price has breached the trendline, gaining a staggering 111% against Bitcoin in November so far. However, to confirm this breakout, the altcoin must stay above this trendline on the monthly chart.

Despite the recent increase, CryptoBull remains optimistic about XRP’s potential for further gains against Bitcoin. In his latest analysis, he suggests that XRP is still in the early stages of its bull run.

Ripple’s Native Crypto Can Rally to $20

Despite the 111% gains, XRP is still trading at just 0.00001544 BTC, below the peak price attained in early 2018. This is because even the Bitcoin price has seen a strong uptrend, gaining over 36% following Donald Trump’s victory and reaching all the way to $100K, per the CNF report.

CryptoBull anticipates XRP’s upward momentum to continue until it reclaims its early 2017 peak of 0.0002454 BTC, a level it reached in May 2017 following a prolonged period of underperformance. Currently, XRP remains over 1,500% below this peak.

If XRP price experiences a rally similar to the one in early 2017, CryptoBull’s analysis suggests that reaching the 0.0002454 BTC level could drive the token’s price to at least $20. With Bitcoin now trading at $95,800, this target would equate to a $23 valuation for XRP in dollar terms.

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