The price action of Bitcoin is the most important factor. After hitting its peak close to $126,000 in October, BTC has retraced by more than 18% and is now trading at around $88,200.
Although Bitcoin is still in the bullish zone, it has started a phase of consolidation, which has led to a decrease in its capital attraction based on market dominance.
This situation is a favorable one for the large-cap altcoins that have good relative momentum. At the moment, XRP is trading around 0.00002115 BTC, which is equivalent to $1.86.
Analysts suggest that if the XRP/BTC ratio advances toward 0.000275 BTC, a level consistent with prior cycle behavior, XRP’s price could approach $24, assuming Bitcoin remains range-bound.
Importantly, this scenario does not require Bitcoin to decline further. Instead, it depends on sustained relative demand shifting toward XRP while BTC trades sideways.