XRP has outperformed Ethereum by 34.24% over two weeks; expert analysts anticipate further significant gains based on technical observations.
In a recent analysis shared on X, market watcher RunnerXBT highlighted that XRP has outperformed Ethereum (ETH) by 34.24% over the past two weeks.
The analyst stressed that an investor who had bought XRP dip instead of ETH when BTC crashed to $54,000 early this month would have achieved a significantly higher return.
if you bought $XRP instead of $ETH when BTC was at $54k just two weeks ago
you would have outperformed it by 34%#XRPARMY #AD #GRANT pic.twitter.com/3N17k5CZQd
— RunnerXBT (@RunnerXBT) July 22, 2024
How XRP Outperformed Ethereum in Returns
The accompanying image of RunnerXBT’s analysis was an XRP/ETH graph that marks the price performances from early July to date, with July 5 as the key reference point. In particular, on July 5, the XRP/ETH pair hit one of the lowest points in recent years.
The chart indicates that XRP gained 0.0000452 in the XRP/ETH ratio since the recent bottom, translating to a 34.24% increase. The XRP/ETH price currently stands at 0.0001724, preserving an 11% weekly gain and a 23% gain against Ethereum.
Regarding individual prices, XRP has soared by over 65% from the low of $0.385, reached on July 5, to a three-month high of $0.06366 on July 17.
Meanwhile, through the same timeframe, ETH expanded by only 24.41% from the low of $2,826 to $3,516.
Experts Predict Further Upside
Amid XRP’s impressive outperformance against ETH, analysts remain optimistic about its prospects, predicting even further upside potential. Notable experts foresee significant gains for XRP, driven by technical analysis and historical price patterns.
For instance, market analyst Javon Marks predicts a substantial surge for XRP, potentially leading to a 41,400% increase, driving its value over $150. Marks’ analysis highlights historical price movements and symmetrical triangles, suggesting an imminent breakout.
In a separate conversation, analyst “Sensei Hov” noted XRP’s impressive performance, up over 66% from his entry point.
Hov anticipates a three-wave retracement into the $0.47 level before targeting higher. He believes the $0.47 level will test XRP’s bullish momentum.
XRP is now up over 66% from our entry level & has done exactly what we wanted to see on lower tf
We broke the alt invalidation levels from last update & turned a 3 waved move into a decent looking impulse(threaded)
Now we're looking for that 3 waved retrace into our… pic.twitter.com/KbUqWihv9U
— Hov (@SenseiHov) July 22, 2024
A Good Time To Buy XRP?
U.S.-based wealth advisor Mickle argues that it is still a good time to invest in XRP. Despite XRP’s recent rally of over 65% from its early-month bottom price to a multi-month high above $0.63, Mickle believes further gains are imminent.
According to TradingView’s technical analysis, the weekly chart of XRP/USD suggests a bullish bias.
The price is above the middle Bollinger Band, indicating upward momentum. The RSI at 57.50 shows a slightly bullish bias, while significant trading volume supports the current price movement.
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.
