Este artículo también está disponible en español.
A well known analyst made an intriguing assumption in regards to the rise of XRP, saying that it may probably outdo the Philadelphia Gold and Silver Index.
Egrag Crypto predicted that XRP may rise by 1,000% towards the gold and silver index because the analyst sees the crypto replicating a run it made in 2017.
Associated Studying
A Looming Crypto Run
In a put up, market analyst Egrag Crypto famous that indicators are exhibiting that the altcoin may probably make a bull run just like what it did in 2017, saying that it may have an enormous run that will enable it to outperform the Philadelphia Gold and Silver Index.
“XRP / XAU: 1000% Attainable Candle?” the distinguished analyst mentioned in his X account.
#XRP / #XAU: 1000% Attainable Candle?
Not many analyze the #XRP / #XAU pair, however the chart appears primed for a bounce! Let’s break it down:
1⃣Understanding the Pair
This evaluation focuses on #XRP / #XAU, not towards the US Greenback.
If #XAU decreases in #USD phrases, the… pic.twitter.com/5bgkp2G64U— EGRAG CRYPTO (@egragcrypto) February 10, 2025
Egrag analyzed the efficiency of XRP towards the Philadelphia Gold and Silver Index by exhibiting the XRP/XAU pair, which represents the coin’s market capitalization, versus the index.
“If XAU decreases in #USD phrases, the value of XRP when it comes to #XAU will improve, impacting its greenback worth instantly,” the market analyst defined.
Present Setup Mirrors 2017 Rally
Egrag added that the present XRP’s situation is likely to be just like that of its 2017 run.
“I theorize that the three inexperienced candles we noticed in 2017 have been replicated, albeit with a unique diploma of progress. We’re at present in a ranging mode; the arrow chart suggests we might keep on this vary if present worth motion aligns,” the analyst famous.
For readability, the gold and silver index is being traded on the Philadelphia Inventory Alternate, which tracks the shares of 30 treasured metallic mining corporations. Furthermore, this index trades with the ticker XAU, which is similar ticker for gold ounces.
XRP Might Hit $28.5
Egrag mentioned in its earlier run in 2017, the sample allowed XRP to soar by 1,000% within the XRP/XAU pair, saying that for the time being, the pair is being traded at $893.9 million.
The determine was obtained by dividing the altcoin’s present market capitalization of $149.64 billion by the present worth of the Philadelphia Gold and Silver Index of $167.39.
The market analyst believed that if XRP would repeat the 1,000% spike whereas $167.39 is the value of the index, it could push the value of the XRP/XAU pair to $9.83 billion.
With such worth, the XRP market capitalization can be at $1.64 trillion, supposing the index stays at $167.39, resulting in XRP being traded at $28.5.
Associated Studying
Altcoin Bounces Off
Egrag famous that XRP worth versus XAU appears to have bounced past the equilibrium part, recovering from a large collapse this month that noticed XRP slide to $1.7.
“Good Bounce: #XRP / #XAU has bounced forcefully from the equilibrium stage. An identical bounce occurred on the 7 EMA (Exponential Transferring Common), indicating bullish momentum,” the market analyst mentioned in a put up.
Featured picture from Gistly, chart from TradingView
