Notable market analyst CryptoInsight is pointing towards an imminent shift in the XRP price trajectory, anticipating a convergence with Bitcoin (BTC) performance within the next three days.
According to CryptoInsight’s post yesterday, the current countdown stands at T-4 days for what they call the XRP blast, which could see the asset skyrocket by impressive margins. As of today, XRP has three days left to materialize the movements the analyst predicted.
The analysis underscores a consistent trend where XRP trails behind Bitcoin in terms of price action. Despite this, the analyst observes a noteworthy development—XRP breakouts are progressively aligning with the movements of the firstborn crypto.
XRP Price Actions
CryptoInsight drew attention to historical patterns, citing the previous major breakout that required 22 days for XRP to catch up with Bitcoin’s movement. Notably, XRP caught up with Bitcoin on July 13 when it soared over 97% to $0.93 within eight hours.
Data from CryptoInsight’s chart suggests that XRP had lagged behind Bitcoin in price action prior to the breakout. Interestingly, this structure of Bitcoin’s price movements towering over XRP started on June 22, but ended on July 13, representing a 22-day window.
CryptoInsight stressed that, in a subsequent rally, this gap narrowed down to 13 days. Extrapolating from this trend, the analyst predicts a potential breakout date of Nov. 15 for XRP.
Notably, the analysis considers the period of stabilization for XRP within the 4-hour time frame. At this stage, CryptoInsight raised a pivotal question: is the XRP price poised to undergo further correction before initiating an upward trajectory, or is the stage already set for a significant surge?
The market’s current state of excitement coincides with a somewhat subdued sentiment. CryptoInsight suggests that the subdued sentiment could be a positive indicator for potential expansion. This implies that while the market is buzzing with activity, the broader sentiment has yet to catch up, leaving room for further growth.
The XRP/BTC ChartÂ
Meanwhile, the XRP/BTC chart is not looking favorable for XRP on the daily timeframe, a testament of XRP’s current underperformance against Bitcoin. Notably, XRP kicked off a rally on Oct. 29, gaining by over 30% against Bitcoin in nine days, as it soared to $0.7324 on Nov. 6.
However, XRP’s momentum slowed upon hitting $0.73, leading to a massive collapse against BTC. XRP has now registered four consecutive intraday losses to Bitcoin since Nov. 6, with a 0.51% decline today adding to this bearishness.
XRP currently changes hands at $0.6520 as of press time, down 1.81% over the past 24 hours. Meanwhile, BTC is trading for $37,087, leading to an XRP/BTC value of 0.00001758. This chart hit its yearly peak of 0.000030 on July 13, amid a 67% intraday gain.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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