XRP Moves Into Key Range Against Bitcoin As 3 Major Targets Show Up
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
XRP has re-entered a pivotal trading range against Bitcoin (BTC) , stirring up excitement as technical signals suggest a potential breakout. This move is reinforcing its bullish position, highlighting three major price targets that could confirm a larger macro rally.
XRP Sets Sights On Key Targets Against Bitcoin
After months of consolidation, the XRP/BTC trading pair is now back inside a critical triangle formation, which market expert Egrag Crypto has identified as a key price range to watch for potential breakout or breakdown moves. The analyst shared a short-term XRP/BTC chart on X (formerly Twitter), explaining how important this price range is for the trading pair to hit new bullish targets and reach even larger goals.
Related Reading
This triangle structure, dating back years, acts as a roadmap for XRP/BTC's potential breakout, but only if it successfully flips certain levels into support. The first major target highlighted by Egrag Crypto is $0.000003033, which represents the upper boundary of the triangle. A decisive breakout above this level would signal a structural shift, confirming a possible bullish breakout from the narrowing wedge.
Source: Egrag crypto on x
The analyst's second key target is $0.00003430, the local high from XRP/BTC's last rally. This price level is crucial for momentum validation, as flipping this into support with strong volume would build strong confidence in the next upward move and show confirmation that it can hold above it.
The third and most critical target the XRP/BTC pair is expected to reach is $0.00004300, which aligns with the Fibonacci 1.0 level and XRP/BTC's previous cycle high. A move beyond this level suggests the beginning of a macro rally, unlocking access to higher Fibonacci extension levels , including:
1.272 Fib ($0.00007244)
1.414 Fib ($0.00009546)
1.618 Fib ($0.00014191)
1.888 Fib ($0.00030000)
The Altcoin Must Hold Support Or Risk Macro Breakdown
While Egrag Crypto's breakout targets paint an optimistic picture, the XRP/BTC LTC analysis comes with a stark warning of a potential crash . The analyst has raised alarm bells, warning not to lose the 0.618 Fibonacci level at $0.00002032.
Related Reading
This support range acts as the last kind of defense for XRP/BTC's bullish market structure. The analyst goes as far as to say, 'Lose an arm, but don't lose this range,' emphasizing the importance of maintaining this level. He further predicts that if the pair drops below this support level, it could see a decline to as low as $0.00000611.
At the time of the analysis, XRP/BTC was trading at approximately $0.00002516, showing early signs of recovery after dipping below the triangle range. If bulls can defend this level and hold on to their upward momentum , the path toward flipping resistance levels into support becomes potentially clearer.
Egrag Crypto has also outlined potential price projections for the XRP based on the bullish scenario where the XRP/BTC pair reaches several upper Fibonacci levels and Bitcoin rallies to key milestones .
XRP trading at $2.47 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from Getty Images, chart from Tradingview.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
4 hours ago
- Business Upturn
XRP Surges 68% in Six Months; HashJ Launches Simplified XRP Contract Participation Amid Renewed Institutional Adoption
London, United Kingdom, Aug. 03, 2025 (GLOBE NEWSWIRE) — MGPD Finance Limited, doing business as HashJ, today announced the official launch of simplified XRP contract participation, enabling everyday users to engage effortlessly with XRP's renewed market growth. The launch coincides with XRP's impressive 68% value surge over the past six months, largely driven by renewed institutional interest and widespread adoption across global payment platforms. Simplifying XRP Participation with HashJ Designed specifically for ease of use, HashJ's XRP contracts provide a user-friendly alternative to traditional crypto investing methods. The contracts offer short-term, fixed-return opportunities ranging from 3 to 30 days, removing the need for complex technical setups or extensive financial market knowledge. Users can manage and monitor their contracts directly from a smartphone, with automated profit settlement every 24 hours. Key Features of HashJ's XRP Contract Platform Include: Mobile-First Accessibility: Initiate contracts easily via iOS and Android applications, anytime and anywhere. Initiate contracts easily via iOS and Android applications, anytime and anywhere. Flexible Contract Durations: Users choose fixed terms, from as short as 3 days to as long as 30 days, allowing for customizable investment strategies. Users choose fixed terms, from as short as 3 days to as long as 30 days, allowing for customizable investment strategies. Automated Revenue Settlement: Daily profit distributions with transparent, real-time earnings tracking and the flexibility to withdraw in XRP or USDT at any time. Daily profit distributions with transparent, real-time earnings tracking and the flexibility to withdraw in XRP or USDT at any time. AI-driven Revenue Optimization: Intelligent algorithms ensure participation in the most optimal XRP growth opportunities, eliminating guesswork and speculation. Low-Risk Entry for New Users In celebration of XRP's impressive market performance, HashJ is offering new registrants an exclusive welcome package valued at $ incentive includes: $100 in XRP contract trial credits to experience the platform risk-free. $18 in real crypto funds for immediate use. This attractive offer enables anyone, regardless of their prior experience with cryptocurrencies, to confidently explore and benefit from XRP's ongoing growth potential. Committed to Secure and Transparent Participation HashJ maintains strict compliance with global regulatory standards, offering users encrypted wallet security, immutable transaction records, and fully transparent profit calculations. This commitment ensures a safe, straightforward, and reliable participation experience. 'XRP's significant market momentum has highlighted the necessity for simple and accessible participation tools,' said a spokesperson for HashJ. 'Our new XRP contract model empowers everyone—from seasoned investors to complete beginners—to confidently engage with XRP's growth without barriers or complexity.' About MGPD Finance Limited (HashJ) MGPD Finance Limited, doing business as HashJ, is a UK-based fintech leader founded in 2018, serving over 2 million users worldwide. The company provides innovative and straightforward digital asset contract participation platforms for BTC, ETH, DOGE, XRP, and other leading cryptocurrencies. HashJ is dedicated to democratizing crypto engagement through accessible, secure, and transparent financial solutions. For more information, visit: User Benefit: Register and receive $18 and $100 sign up reward. Business Inquiries: [email protected]
Yahoo
5 hours ago
- Yahoo
Professor Coin: What Gives Bitcoin Its Value?
Professor Andrew Urquhart is Professor of Finance and Financial Technology and Head of the Department of Finance at Birmingham Business School (BBS). This is the eighth installment of the Professor Coin column, in which I bring important insights from published academic literature on cryptocurrencies to the Decrypt readership. In this article, I discuss what gives Bitcoin value. In just over a decade, Bitcoin has gone from a niche innovation in cryptography to a globally traded asset with a market capitalization in the hundreds of billions. Yet despite its prominence, a persistent question remains: what gives Bitcoin its value? Bitcoin doesn't generate cash flow like a company, isn't backed by physical reserves like gold, and has no central authority guaranteeing its worth. So why are people willing to pay tens of thousands of dollars for a digital token? Recent academic research points to several factors. Scarcity and Monetary Policy The first pillar of Bitcoin's value is its programmed scarcity. Bitcoin has a fixed supply: only 21 million coins will ever be created. This limit is enforced by the network's consensus rules and is viewed by supporters as a bulwark against inflation. Academic studies have likened Bitcoin to gold because of this scarcity. Pagnotta and Buraschi (2018) model Bitcoin as a decentralized network whose value stems from user adoption and security, both of which are underpinned by the incentives embedded in its monetary policy. In their equilibrium framework, scarcity plays a key role in sustaining long-term value. Why is Bitcoin's supply limit set to 21 million? Scarcity makes Bitcoin attractive as a hedge against inflation, particularly in a world of expanding money supply. A number of economists have investigated whether Bitcoin's scarcity can explain its valuation with Kruger, Meyer, and Withagen (2022) showing the widely discussed stock-to-flow model fits historical data reasonably well, reaffirming the importance of scarcity as one component of Bitcoin's perceived value. Network Effects and Utility Scarcity is not sufficient without demand—and Bitcoin's demand comes from its use as a peer-to-peer digital asset and from the belief that others will accept it in the future. This is where network effects come into play. According to Cong, Li, and Wang (2021) Bitcoin's value grows with its user base. Their tokenomics model shows that the more people adopt and trust Bitcoin, the more valuable the network becomes. This dynamic helps explain why Bitcoin has survived multiple boom-and-bust cycles. Furthermore, Bolt and van Oordt (2016) argue that the value of a virtual currency arises if users expect it to retain value and be accepted in transactions. Their model formalizes how expectations of acceptance can stabilize a volatile asset like Bitcoin. Cost of Production and Network Security Bitcoin is also underpinned by a real-world cost: mining. To secure the network and process transactions, Bitcoin relies on a system called proof-of-work, where miners compete to solve cryptographic puzzles using electricity and hardware. This energy-intensive process is not without controversy, but researchers such as Hayes (2015) have shown that the cost of production provides a fundamental floor for Bitcoin's price. He finds that Bitcoin rarely trades below the marginal cost of mining, reinforcing the idea that energy and security provision matter for valuation. Moreover, the work of Pagnotta and Buraschi (2018) supports this by showing that mining incentives and the strength of the network's security are central to Bitcoin's equilibrium value, not just supply and demand in the traditional sense. Speculation, Sentiment, and Attention In practice, however, Bitcoin's price also reflects investor sentiment and speculation. A surge in media coverage or social media buzz can trigger price rallies or sharp selloffs. Studies by Urquhart (2018) and Shen et al (2019) demonstrate that Bitcoin prices are strongly correlated with online search trends and that trading volume in turn, drives investor attention. Similarly, Liu and Tsyvinski (2021) show that cryptocurrency returns are significantly predicted by investor attention proxies. Unlike traditional assets, Bitcoin lacks ties to macroeconomic fundamentals, so sentiment and belief play an outsized role. Macroeconomic Role and Portfolio Demand Bitcoin's value is also shaped by its role in the broader financial system. In a low-interest-rate environment and amid concerns about fiat currency debasement, investors have turned to Bitcoin as a non-sovereign store of value. This is demonstrated by early work by Baur et al (2018) who show that investors are holding Bitcoin for long periods, but is supported by followup work by Jahanshahloo et al (2025). Recent research has reassessed Bitcoin's role in portfolios, particularly in times of market stress. Corbet, Larkin, and Lucey (2020) find that Bitcoin behaves more like a speculative asset than a traditional safe haven, but it can act as a weak diversifier under certain market conditions. In a similar vein, Ji, Bouri, Lau, and Roubaud (2021) use time-varying spillover models and show that Bitcoin's hedging properties fluctuate significantly, with greater hedging effectiveness during tranquil periods rather than during crises. Professor Coin: Can Bitcoin Replace Gold? Conclusion: Value from Code, Community, and Belief Bitcoin's value emerges from a blend of engineering and economics: scarcity enforced by code, utility derived from decentralized consensus, and demand shaped by sentiment, costs, and macro conditions. It behaves like a commodity, a tech stock, and a speculative token—often all at once. That complexity is what makes Bitcoin both so fascinating and so difficult to value with traditional models. In the end, Bitcoin's worth is anchored not in what it does today, but in what its users believe it can become tomorrow. And as long as that belief persists—backed by utility, adoption, and incentives—the value may persist too. References Baur, D. G., Hong, K-H., Lee, A. D. (2018). Bitcoin: Medium of exchange or speculative assets? Journal of International Financial Markets, Institutions and Money, 54, 177-189. Bolt, W., & van Oordt, M. R. C. (2016). On the Value of Virtual Currencies. Journal of Financial Stability, 17, 81–91. Cong, L. W., Li, Y., & Wang, N. (2021). Tokenomics: Dynamic Adoption and Valuation. Review of Financial Studies, 34(3), 1105–1155. Corbet, S., Larkin, C., & Lucey, B. (2020). The contagion effects of the COVID-19 pandemic: Evidence from gold and cryptocurrencies. Finance Research Letters, 35, 101554. Hayes, A. (2015). A Cost of Production Model for Bitcoin. Telematics and Informatics, 34(7), 1308–1321. Jahanshahloo, H., Irresbeger, F., Urquhart, A. (2025). Bitcoin under the microscope. British Accounting Review, forthcoming. Ji, Q., Bouri, E., Lau, C. K. M., & Roubaud, D. (2021). Dynamic connectedness and integration in cryptocurrency markets. International Review of Financial Analysis, 74, 101670. Kruger, P., Meyer, C., & Withagen, P. (2022). Is Bitcoin's Stock-to-Flow Model Valid? Finance Research Letters, 48, 102956 Liu, Y., & Tsyvinski, A. (2018). Risks and Returns of Cryptocurrency. NBER Working Paper No. 24877. Pagnotta, E., & Buraschi, A. (2018). An Equilibrium Valuation of Bitcoin and Decentralized Network Assets. Review of Financial Studies, 31(9), 3498–3531. Shen, D., Urquhart, A., Wang, P. (2019). Does twitter predict Bitcoin? Economics Letters, 174, 118-122. Urquhart, A. (2018). What Causes the Attention of Bitcoin? Economics Letters, 166, 40-44. Sign in to access your portfolio
CNBC
5 hours ago
- CNBC
Expect the crypto rally to cool in August as new tariffs ratchet up macroeconomic concerns
Institutional adoption of cryptocurrencies has been trouncing the macroeconomic narrative as the main performance driver for the past two months. Now investors should look for a reversal of that dynamic over the coming month, however. Ether stole the spotlight from bitcoin in July, roaring ahead more than 49% in the month, but bitcoin still managed an 8% gain and climbed to a new all-time high at mid-month. The price action in both coins was largely supported by inflows into ETFs – a steady stream of new investment dollars that continued in bitcoin ETFs and was coupled with a sudden explosion of flows into ether funds – as well as the new crop of crypto treasury companies focused on accumulating the coins. But after the broad sell-off in stocks and rally in bonds on Friday , following weak jobs data and President Donald Trump's new tariffs ranging between 10% and 41% , investors expect crypto to pull back in August with traders likely to dump their more highly speculative and volatile assets. "Bitcoin is caught between ETF-driven optimism and uncertainty around global trade tensions," said Ray Youssef, CEO of crypto app NoOnes. "It remains the risk benchmark, but it may trade in a tighter range unless a new macro catalyst emerges, such as another unexpected rate move or geopolitical shift … I expect August to be relatively muted in terms of price volatility, but deceptively active in terms of positioning." mountain 2025-07-01 Ether (ETH) and bitcoin (BTC) since July 1 Given how hot cryptocurrencies and stocks were in the second quarter, some investors see any pullback as a healthy and strategic cooldown rather than a reaction to a crisis. Especially in what has historically proven a weak trading month for many markets. Among crypto-related stocks, Coinbase gained 27% in the past two months, Galaxy Digital jumped 45%, and the bitcoin miner Iren surged 76%. As part of a rotation from bitcoin to ether-focused plays, ether treasury company Bitmine Immersion soared 136% and stablecoin stock Circle surged more than 400%. "Near term, I think bitcoin stays range-bound unless we get a big macro shift," Pauline Shangett, chief strategy officer at crypto exchange ChangeNOW, told CNBC. "ETH has more momentum thanks to ETF demand and whale activity , which could help it hold up better even in a choppy market," she said, referring to ether, and large investors who hold large positions in a particular asset. Ether ETFs saw more than $5 billion in inflows in July alone, bringing its total inflows to $9.64 to date. Bitcoin ETFs saw monthly inflows of about $6 billion in July, out of a cumulative $55 billion since their introduction. "We are taking advantage of this consolidation and playing for this highly compelling setup to reaccelerate and break out," Read Harvey, technical analyst at Wolfe Research, said in a note Wednesday. "For now, we're buyers of pullbacks in the space and expect reaccelerations in coming weeks, a development that should lead to further crypto outperformance vs. equities." Youssef at NoOnes expects bitcoin to trade between $114,000 and $120,000 for most of August, and find buying support whenever it trades between $103,000 and $109,000. If ether can hold above $3,750 per coin, bulls could push for a retest of $4,000 – a challenging psychological and technical level for traders since the 2021 bull market – with support between $3,200 and $2,900, according to Youssef. "The real wildcard is the September Fed meeting," Youssef said. "[Chair] Jerome Powell's remarks often create sharp, short-term volatility, and with geopolitical tensions rising, we could see sudden shifts in sentiment. Still, unless macro conditions deteriorate significantly, both BTC and ETH appear to be building momentum beneath the surface." —CNBC's Michael Bloom contributed reporting.
