XRP Price Action Has Been Tracking Bitcoin Very Closely

XRP's price action in the recent days has been following that of Bitcoin very closely, and the past 24 hours has been characterized by a 3.3%

The recent days have seen XRP's price action closely mirroring that of Bitcoin, with the cryptocurrency experiencing a 3.3% price decline in the past 24 hours after being rejected from resistance, following in the steps of Bitcoin.

Interestingly, a new analysis shared by crypto strategist Cryptoinsightuk offers a timeline for when the XRP price could erupt again, aligning its next big move with key phases in Bitcoin's dominance cycle and the possibility of rotation into the altcoin market.

According to Cryptoinsightuk's latest commentary, the altcoin market, XRP included, is on the verge of another explosive rally. In a YouTube video, the analyst explained that Bitcoin dominance is once again nearing an important threshold around the 70% mark, a point which in the past has marked the beginning of major altcoin seasons. This pattern has been evident across multiple cycles, and XRP, in particular, has shown the ability to outperform Bitcoin in these moments.

To support his prediction, the analyst referenced December 2024, a time when XRP surged from $0.50 to briefly above $3.30, outpacing Bitcoin in relative gains. This shows the possibility of large market cap altcoins to outperform Bitcoin, especially those with attention. He expects this trend to ring through most altcoins that have attention-based utility very soon, especially if Bitcoin dominance rejects around the 70% dominance.

Once Bitcoin breaks through the $104,000 to $117,000 price range, the capital rotation into altcoins will likely begin. This liquidity move could create the conditions necessary for the XRP price to make its next leap and finally break into new all-time highs.

Speaking of new all-time highs, the analyst noted that Ethereum in particular is looking like it is about to move to a new all-time high. "At some point we’re going to see $4,200 ETH this cycle," he said.

First, the analyst expects Bitcoin to move squeeze through liquidity pools and at one point the price is going to go up significantly higher. If Bitcoin follows the exact timeline between the peak in March and the breakout in September, it will take 239 days. A similar movement will see Bitcoin break out massively sometime in July.

Bitcoin at this point will reach a $160,000 price target, close to a $180,000 price top. If we get this move for Bitcoin, altcoins will rally when Bitcoin breaks through a range around $104,000 up until $117,000. Interestingly, this move is expected to be heradled by XRP. However, the rotation from Bitcoin into the altcoin market is mostly going to be through traders who bought before institutional money started flowing into Bitcoin. Particularly, those that bought before the last few weeks or before this cycle generally.

At the time of writing, XRP is trading at $2.50.