Three well-known crypto analysts have pointed out that there could be a significant increase in the price of XRP compared to Bitcoin. Two of them even call it a “life-changing” opportunity.
While Bitcoin is the biggest and most important cryptocurrency, its movements don’t always determine what happens with other cryptocurrencies. Sometimes, alternative coins like XRP can go their own way, showing either bullish (positive) or bearish (negative) trends independently from Bitcoin.
XRP’s Underperformance Against Bitcoin: A Five-Year Trend
In recent times, XRP has been moving differently from Bitcoin, but this deviation has resulted in Bitcoin outperforming XRP since July 2023. Following a spike to $0.93 on July 13, prompted by a favorable ruling in the Ripple vs. SEC case, XRP’s price collapsed by 70% against Bitcoin.
As XRP faced a correction from its $0.93 high, its price against BTC continued to decline. Moreover, during the market uptrend from October 2023 to March 2024, Bitcoin rallied significantly more than XRP, worsening XRP’s decline against the leading cryptocurrency.
However, this trend of underperformance is not new. Data confirms that XRP has been underperforming Bitcoin since dropping from its all-time high of $3.31 in January 2018. Market analyst EGRAG recently highlighted this in an analysis, sharing a chart depicting XRP’s consistent underperformance against Bitcoin over the past five years.
EGRAG’s Analysis Highlights Key Resistance and Support Levels for XRP/BTC
In his analysis, EGRAG emphasized the significance of the 0.00001 BTC resistance level on the XRP/BTC 2-week chart. The last time XRP traded above 0.00001 BTC was on March 11, reaching a high of 0.00001031 BTC before experiencing a slight decline.
#XRP / #BTC YOLO Band – YOU ONLY LIVE ONCE (UPDATE):
I'm cautiously optimistic about the #XRP / #BTC move unless we close above 0.000010.
Back in 2017, we saw a bounce from the YOLO Band first, followed by a 45% dip, which turned out to be a life-changing buying opportunity.… https://t.co/HtbZnlJeI0 pic.twitter.com/yNxZ2BQPq7
— EGRAG CRYPTO (@egragcrypto) May 1, 2024
However, XRP quickly dropped below the 0.00001 BTC level the following day and has struggled to reclaim it ever since. EGRAG cautioned that his optimism for an XRP breakout against BTC remains guarded until XRP achieves a 2-week close above the 0.00001 BTC zone.
Interestingly, EGRAG also identified a crucial support zone between 0.00004 and 0.00007 BTC, which he termed the YOLO Band. He highlighted that in 2017, when XRP’s price fell into this band, it subsequently experienced a 45% drop against BTC before undergoing a significant price surge that led to its all-time high of $3.31.
Analysts Predict Significant Upside for XRP Against Bitcoin
EGRAG highlighted a potential “life-changing” opportunity for investors as he predicts XRP to drop to a crucial support band, echoing a similar 45% dip witnessed previously. However, he clarified that this decline would likely be a result of Bitcoin’s surge rather than XRP’s collapse.
#XRP/BTC – This next $XRP move will be LIFE CHANGING! 🙏
1. Bounced off 7-year trendline
2. Potential Hidden Bullish Div.
3. RSI potential bullish cross of the MA lineGlad we loaded up at the lows using TA minus all hype! It's coming! (Dumb money who got REKT will deny lol!)… pic.twitter.com/Dlp0Wuqwuh
— JD 🇵🇭 (@jaydee_757) May 2, 2024
Similarly, crypto analyst JD identified a long-term symmetrical triangle pattern spanning seven years, indicating XRP’s underperformance against BTC since January 2017. JD interprets recent price movements, including a retest of the triangle’s lower trendline, as signaling a significant upward push. Moreover, the formation of a hidden bullish divergence on the XRP/BTC 2-week chart and a potential crossover of the RSI line above the MA line further bolster JD’s bullish outlook, which he expects to be “life-changing.”
Echoing these sentiments, crypto trading account 5.0 Trading observed that XRP recently breached its downtrend against Bitcoin on the daily chart. Despite Bitcoin’s decline below $60,000, XRP has outperformed BTC over the past two days, marking a 9% increase. Currently trading at 0.0000891 on the XRP/BTC chart, this sustained uptrend led 5.0 Trading to anticipate a fourfold rise for XRP against Bitcoin. XRP is currently priced at $0.5136, showing no significant change over the last 24 hours.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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