Three prominent crypto analysts have identified a looming XRP price upsurge against Bitcoin, with two of them touting the upcoming move as a “life-changing” opportunity.
Being the premier and largest cryptocurrency by market cap, Bitcoin (BTC) has continued to dictate the flow of the broader crypto market. However, not all altcoins follow closely in the firstborn crypto’s footsteps at all times, leading to bullish and bearish deviations.
Bitcoin Outperforms XRP
XRP has been deviating from Bitcoin’s movements in recent times, but this deviation has led to Bitcoin outperforming XRP since July 2023. As a result, XRP price has collapsed 70% against Bitcoin since July 13, when it spiked to $0.93 on the heels of the favorable ruling in the Ripple vs. SEC case.
As XRP faced a correction from the $0.93 high, its price against BTC continued to decrease. In addition, during the recent market uptrend, which spanned October 2023 through March 2024, BTC rallied by a much higher margin than XRP, further exacerbating XRP’s collapse against the premier crypto asset.
However, data confirms that this trend of underperformance has been prevalent since XRP dropped from its all-time high of $3.31 in January 2018. Market analyst EGRAG disclosed this in a recent analysis, sharing a chart that reveals XRP has been underperforming Bitcoin for five years.
XRP Price Needs to Close Above 0.00001 BTC
In his analysis, EGRAG called attention to the significance of the 0.00001 BTC resistance level on the XRP/BTC 2-week chart. The last time the XRP price traded above 0.00001 BTC was on March 11, when it soared to a high of 0.00001031 BTC before witnessing a slight drop.
#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
XRP relinquished the 0.00001 BTC level the next day and has failed to recover it since then. EGRAG noted that his optimism of an XRP breakout against BTC remains cautious until XRP can record a 2-week close above the 0.00001 BTC zone.
Interestingly, he identified a pivotal support zone between 0.00004 and 0.00007 BTC, dubbing this zone the YOLO Band. He stressed that the last time XRP price dropped to this band in 2017, it recorded a subsequent 45% drop against BTC before seeing a massive price surge that led to the $3.31 ATH.
A Life-Changing Move Imminent
EGRAG noted that this 45% drop was a life-changing opportunity for investors to buy XRP. He believes this life-changing opportunity is about to re-emerge, predicting XRP to drop to this band and record a similar 45% dip against BTC. However, he stressed that this dip would be a result of Bitcoin skyrocketing, and not XRP collapsing.
Crypto analyst JD also made a similar argument while leveraging different patterns. JD’s chart shows that XRP has been underperforming BTC since January 2017, leading to a 7-year symmetrical triangle. However, amid the recent steeper declines, XRP has witnessed a retest of the lower trendline of this triangle.
#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
JD sees this as a signal for a massive push up, especially when combined with the formation of a hidden bullish divergence on the XRP/BTC 2-week chart and a looming crossover of the RSI line above the MA line. JD expects the upcoming move against BTC to be “life changing.”
Meanwhile, crypto trading account 5.0 Trading expressed similar bullish sentiments, noting that XRP recently breached its downtrend against Bitcoin on the daily chart. Notably, XRP has been outperforming BTC over the past two days amid Bitcoin’s collapse below $60,000.
As a result, XRP is 9% up against BTC over the past two days, with the XRP/BTC chart currently trading at 0.0000891. 5.0 Trading confirmed that this sustained uptrend helped XRP breach the daily downtrend, with a 4x rise for XRP imminent against Bitcoin. XRP currently changes hands at $0.5136, trading flat over the last 24 hours.
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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