Analyst Predicts XRP to Rise to 1,000% Against Gold and Silver Index: What This Could Mean for Price

分析師預測XRP對黃金與白銀指數將上漲1,000%:這對價格可能意味著什麼
Analyst Predicts XRP to Rise to 1,000% Against Gold and Silver Index: What This Could Mean for Price

front page
Crypto News
market
Analyst Predicts XRP Rally Against Gold and Silver Index to Reach 1,000%: What This Could Mean for Price
Analyst Predicts XRP Rally Against Gold and Silver Index to Reach 1,000%: What This Could Mean for Price
February 16, 2025


XRP

One prominent analyst noted that XRP’s market cap is repeating its 2017 performance against the PHLX Gold and Silver Index, with a potential 1,000% gain on the horizon.
XRP has faced difficulties over the past few weeks as the overall market continues to be unstable. The price fell from $3 to close to $2.6, and the market value of XRP also dropped sharply from $175 billion in early February to the current $149 billion.
XRP/XAU Trading Pair
Interestingly, market analyst EGRAG analyzed the performance of XRP’s market capitalization relative to the Philadelphia (PHLX) Gold and Silver Sector Index in its recent report. To provide context, this index trades on the Philadelphia Stock Exchange and tracks the stocks of 30 precious metal mining companies.
It is worth noting that the Philadelphia Gold and Silver Index has the symbol XAU, which is the same as the symbol for the ounce of gold, which can be confusing for some traders. However, it is very important to pay careful attention to this. EGRAG’s chart shows the XRP/XAU trading pair, which essentially represents the performance of XRP’s market capitalization relative to the index.
Analysts note that whenever the index (XAU) falls in terms of USD, the price of XRP against that index rises, which has an impact on the USD price of XRP.
XRP bounces off equilibrium and 7-month moving average
According to his analysis, the price of XRP to XAU appears to have rebounded from an equilibrium phase after the huge crash that occurred this month. The crash was caused by a sudden drop in the XRP price to $1.7, which many considered to be a strange market movement.


XRPXAU 1M Chart | EGRAG Crypto
The collapse of XRP’s price caused the XRP/XAU trading pair to fall to an equilibrium phase, and the subsequent rebound caused XRP to rebound from this equilibrium point. Moreover, the recent price action also resulted in a similar decline to the 7-month moving average and subsequent rebound from this support level.
Currently, the XRP/XAU trading pair is trading well above the equilibrium phase and the 7-month moving average. EGRAG then noticed that the XRP/XAU trading pair had three bullish monthly candlesticks from November 2024 to January 2025, indicating that XRP performed well against XAU during these months.
He pointed to a similar trend from March to May 2017, during which XRP recorded three bullish monthly candles against XAU. However, the growth in 2017 was much higher than what the market has seen in the current cycle.
EGRAG pointed out that after the three green light candlesticks in 2017, a red light monthly candlestick appeared, which showed that the market was repeating the trend of 2017. If this is true, then after this current red candle, XRP could surge against XAU in the coming months, mirroring the trend seen in 2017.
What the 1,000% gain means for XRP price
The market analyst highlighted that in 2017, this pattern led to a surge in the XRP/XAU trading pair of 1,000%. Currently, the market capitalization of this trading pair is $893.9 million, which is calculated by dividing XRP’s current market capitalization ($149.64 billion) by the current price of the PHLX Gold and Silver Index ($167.39).
If a similar 1,000% gain occurred while the index price remained at $167.39, this would result in a price of $9.83 billion for the XRP/XAU trading pair. Notably, such a trading pair value translates to an XRP market cap of $1.64 trillion, assuming the index remains at $167.39. At this market cap, the XRP price would be $28.5.

Label
Latest XRP (Ripple) News
XRP Price Prediction

Leave a Comment

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *