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XRP price aims for a target of $1.5, with a potential increase of up to 100%. Ripple 
$2 experienced a notable rise of 5.1% in the last 24 hours, trading at $0.6054. If this upward trend continues, experts forecast that the price of XRP could double, reaching the $1.5 mark.
Bitcoin’s Impact Boosts XRP
Recent developments in Bitcoin 
$106,123, which increased by $10,000 in the last 24 hours to hit $89,561, led to a 5.5% rise across the entire cryptocurrency market, including XRP. This surge propelled the total market capitalization to $3.117 trillion, and XRP saw a 19.2% increase over the past week.
According to Blockchain Correlation data, the annual Pearson correlation coefficient between XRP and Bitcoin stands at 0.59. This indicates a 60% likelihood that XRP will gain value if Bitcoin rises.
Increased Trading Volume and Signs of Growth
Ripple’s 24-hour trading volume has surged by 6.6%, according to Coingecko data. Furthermore, data from Coinglass shows that traders have begun taking long positions on XRP, interpreted as bullish signals. The total leverage ratios on exchanges like Binance, ByBit, and OKX indicate positive market sentiment, with long positions of $75 million surpassing short positions of $51 million.
As Bitcoin anticipates reaching the historic level of $90,000, XRP’s potential to break above $1 and rise to $1.5 draws attention. Positive developments regarding crypto-friendly regulations may also provide significant advantages for Ripple and XRP.
The high correlation of XRP with Bitcoin presents a noteworthy indicator for traders. The potential breakout of the trend line, along with increasing trading volumes, strengthens the bullish outlook for XRP. Traders closely monitor XRP’s performance, considering Bitcoin’s supportive effects.
