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Analyst: If XRP closes above $2.59 this week, it may soon set a new high.
Cryptocurrency analyst DonAlt stated in a post on Odaily that if XRP can close above $2.59 on the weekly chart, it may surpass the current high of $3.4, indicating a strong performance for XRP. DonAlt further mentioned that if XRP closes higher this week, he expects it to quickly reach a new all-time high. However, if XRP remains below $2.59, he expects the price to continue consolidating within the current range. In addition, the analyst also discussed the prospects of Bitcoin, believing that as the price of gold rises, the BTC/gold ratio may increase. This may lead investors to view Bitcoin as a safer and more reliable store of value, especially compared to gold. He emphasized that considering the trend of gold prices, the BTC/gold ratio should rise, either due to a decrease in gold prices or an increase in Bitcoin. Despite the negative market sentiment, DonAlt believes that Bitcoin still maintains strong support at key levels.