Ripple’s price has increased by 5.6% over the past seven days and is now trading above $0.5 after a period of disappointing sideways action and decline.
The increase in volatility and trading volume has also created a stir, with some analysts coming up with interesting XRP price predictions.
We reported earlier today that the most obvious target for XRP during a potential extension phase would be its former all-time high around $3.3. In the meantime, if you’re interested in a more comprehensive overview of Ripple’s potential performance during the next bull run, check out our recent video on the matter:
That said, a renowned analyst is pinning XRP to the second-largest cryptocurrency by total market capitalization – Ethereum (ETH). Back in July, he mentioned XRP was on the verge of breaking the resistance that had existed against ETH since 2018.
Now, the analyst, who goes by the handle dark defender It appears that XRP is nearing to overcome ETH by a factor of 5x.
The argument is that XRP managed to complete a successful backtest of the said resistance against Ethereum.
The XRP/ETH pair completed a back-test. XRP is expected to appreciate 5x more than ETH. Look at the ether. Misty Pond has a new king.
It is important to note that just because XRP is outperforming ETH, it does not mean it will reverse in terms of price or market capitalization. This simply means that XRP will outperform in relative terms.
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