Analyst predicts XRP to rise to 000012 BTC as indicators show potential bullish crossover

Bijie.com reports:
Three XRP momentum oscillators, RSI, MACD, and SRSI, are on the verge of potential bullish crosses, with analyst JD expecting the XRP/BTC ratio to rise to 0.00012.
JD called for attention to these oscillating factors in a recent analysis, which aligns with the current market uncertainty. He utilized XRP/BTC charts over a two-week period to demonstrate how Bitcoin has continued to outperform XRP since July 2023.
BTC superior to XRP
In the context of last July’s surge, XRP outperformed other markets, including Bitcoin. This led to a 59% increase in the XRP/BTC ratio in a week, reaching 0.00002472. However, as XRP faced adjustments, the ratio continued to decline. Market data shows that XRP has dropped 68% against BTC over the past 52 weeks.
XRP down 68 against BTC
The XRP/BTC chart is currently at a low point of 0.00000788, the lowest level since March 2021. However, as the bearish trend intensifies, JD has identified three momentum oscillators that could potentially lead to a reversal. His chart data points to Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and Stochastic RSI (SRSI).
Momentum oscillators near Bullish Cross
Notably, the two-week RSI (blue line) for XRP/BTC has dropped to 31.59. This value itself indicates that the ratio is hovering in the undervalued range. However, more importantly, the RSI-based MA (yellow line) is now at 31.88, almost crossing it. If this happens, it will result in a bullish cross, indicating an impending rebound.
Additionally, the Stochastic RSI K line (blue) recently surged to 12.31. The Stoch RSI D line (orange) is now at 5.33, and a bullish cross has been observed in the indicator. This development further increases the chances of a recovery as displayed by RSI.
XRP/BTC chart|JD
Finally, the MACD indicator confirms these observations. It is worth noting that the MACD line (blue) is currently hovering around -0.00000276, while the signal line (orange) stays at -0.00000259. At this level, the MACD line has recorded a bullish cross above the signal line, reinforcing the observation.
XRP/BTC surged to 0.00012
However, it should be noted that these three indicators need to decisively complete their bullish crosses for confirmation. Once this happens, JD predicts that the next wheel in the XRP/BTC pair will reach 0.00007. After that, he predicts a pullback, followed by a second rebound to 0.00012.
With Bitcoin currently trading at $61,098, a value of 0.00012 for XRP/BTC would result in an XRP price of $7.33. However, BTC may reach higher heights at this time, leading to a higher price for XRP. It is worth noting that the price of $7.33 would require a 1424% increase from the current value of $0.4807 for XRP.
Meanwhile, data from Coinglass shows that XRP has continued to record negative net flows in the past three months. For 87 consecutive days, the exchange has seen net outflows for 85 days. This is due to increased withdrawals of XRP from these platforms as investors hope to hold onto their assets. This trend helps alleviate selling pressure.
XRP Exchange Netflow | Coinglass