We Could See Ripple Outperform Bitcoin And Ethereum
Ripple (XRP) has become one of the more troubling tails of the crypto world since the bubble burst. The once third-ranked asset has slipped down the list of top crypto assets, due to almost three years of underperformance compared to the rest of the market.
However, that underperformance could transform into an underdog story, where Ripple surges past Bitcoin (BTC) and Etherum (ETH) and beats the rest of the crypto world. This is what the technicals are potentially saying about a strong new XRP upswing.
XRP Led the Last Crypto Surge to All-Time Highs.
At the end of 2017 and early 2018, BTC rose to 20,000 USD, ETH climbed to 1,400 USD, and XRP hit 3.80 USD per coin. After this point, they all came toppling down and have been in a bear market ever since.
But did you know that it was XRP that was at the front of the initial push in early 2017, and helped carry both ETH and BTC higher?
Going back to March 2017, it was clear that XRP surged first and by the most, before ETH followed and later BTC caught up to the altcoins rallying. After this surge, XRP then began trading sideways for several months, and eventually, ETH and BTC stole the show and have been outperforming XRP ever since.
However that all could change soon, and similar to last time, XRP could soon rally and drive the crypto market into a spin and push the way into the next bull market.
XRP to Fly Past BTC and ETH Driving a New Market Recovery.
The cryptocurrency total market cap was up by more than 80 percent year to date at its high however it has since taken a break following a, particularly hot summer. At the beginning of the breakout in July, XRP outperformed various other altcoins and the leading cryptocurrency on week-on-week performance.
Once again, things have since settled down for XRP, but it could be the calm before the storm. XRPBTC and XRPETH price charts both are potentially indicating a repeat of XRP driving the crypto market forward.
Alongside a huge falling wedge trend on both pairing’s price charts, there are also a number of bullish divergences. Each low put in was portrayed by a wick below the trendline to knock out traders before the actual move takes happens.
Moving out further to the monthly charts, each has set off a TD 9 or 13 buy signal at the bottom of what has been a prolonged downward pattern against the two major assets in the market.
With all of these technicals highlighting to an XRP breakout against both BTC and ETH, and from past experience showing that XRP was the first to surge last time, a significant rally in the crypto markets could be upon us soon.
FVP Trade | The World's Fastest Growing CFD Broker
New to Trading? Visit our Academy to learn the basics of trading and hear insights from our analyst team! Visit our…