Even if the Bitcoin bull run ends, one analyst still sees a minimum target of $4.50 for XRP.

XRP has been on a bit of a rollercoaster this week, with prices swinging between $1.60 and $2.30. We even saw a sharp dip below $1.64 on Monday, before it quickly bounced back to around $1.90. 

Looking at the numbers, XRP’s recent performance shows a 13.9% loss over the last seven days and a steeper 22.7% drop over two weeks. However, there’s a glimmer of hope in the very short term – XRP has actually climbed 6.8% in the last 24 hours, suggesting a bit of a breather. But let’s not forget the bigger picture: over the past month, XRP is still down by 18.2%.

As the wider crypto market tries to find its footing, an analyst is keeping a close eye on crucial support levels for XRP, and they’ve identified a potential price target.

XRP Worst-Case Bull Scenario

Take Dr. Cat, for example, an analyst on X, who is projecting that even in a tough market, XRP could still hit at least $4.50.

This analyst is confident XRP can reach this price, even if the Bitcoin bull run ends prematurely. Even in a “worst-case” scenario, where Bitcoin might just see a lower high or a “dead cat bounce” around $85,000 in the coming months, XRP still has this potential, according to Dr. Cat.

Dr. Cat points to the 1.618 Fibonacci extension level from the recent price drop as supporting this $4.50 target. In the immediate future, the analyst is watching key support levels closely to see if XRP has found its price floor.

More specifically, Dr. Cat has outlined a key point: he would only rethink his $4.50 target if XRP closes below $1.69 on a 2-day chart.

The analyst puts the chances of this recent crypto dip being the bottom at “at least 50%.” Because of this, Dr. Cat is anticipating a significant rebound from the current levels.

4 Signs of XRP Strength

Separately, another well-known market analyst, EGRAG, has highlighted four key price levels that could signal an upcoming breakout for XRP. EGRAG’s analysis indicates that breaking above $2.24, which is around the 21-day exponential moving average (EMA), could be the first sign of a bullish trend taking hold. 

From there, XRP needs to climb above other important levels, starting with $2.30 – this is where the Fibonacci 0.382 retracement level comes into play. The next key level to watch is $2.47, the 0.5 Fibonacci retracement level.

EGRAG also highlights the $2.70 mark, which lines up with the Fibonacci 0.618 retracement. Clearing these resistance points, especially $2.70, could pave the way for a much bigger surge, with the $5 target in sight.