Top Analysts See XRP Price Making a “Life-Changing” Move Against Bitcoin

Three prominent crypto analysts have identified an imminent surge in the price of XRP relative to Bitcoin, with two of them praising the upcoming move as a “life-changing” opportunity.

Being the main and largest cryptocurrency by market value, Bitcoin (BTC) continued to dictate the flow of the broader crypto market. However, not all altcoins closely follow 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 as of late, but this deviation has seen Bitcoin outperform XRP since July 2023. As a result, XRP’s price has fallen 70% against Bitcoin since July 13, when it hit US$0.93 in the wake of the favorable decision in the case of Ripple vs. SEC.

As XRP faced a correction from the high of $0.93, its price against BTC continued to decline. Furthermore, during the recent market uptrend, which lasted from October 2023 to March 2024, BTC rallied by a much larger margin than XRP, further exacerbating XRP’s collapse against the leading crypto asset.

However, data confirms that this underperformance trend has prevailed since XRP fell 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 that XRP has been underperforming Bitcoin for five years. .

XRP price needs to close above 0.00001 BTC

In its analysis, EGRAG drew attention to the importance of the 0.00001 BTC resistance level in the XRP/BTC 2-week chart. The last time XRP price traded above 0.00001 BTC was on March 11, when it reached a high of 0.00001031 BTC before witnessing a slight decline.

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XRP abandoned the 0.00001 BTC level the following day and has failed to reclaim it since. EGRAG noted that its optimism regarding XRP’s breakout against BTC remains cautious until XRP can record a 2-week close above the 0.00001 BTC zone.

Interestingly, he identified a crucial support zone between 0.00004 and 0.00007 BTC, dubbing this zone the YOLO Band. He emphasized that the last time XRP price fell to this range in 2017, it recorded a subsequent 45% drop against BTC before seeing a huge price surge that led to the ATH of $3.31.

An imminent life-changing movement

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 resurface, predicting that XRP will fall into this range and record a similar 45% drop against BTC. However, he emphasized that this drop would be a result of Bitcoin’s surge, and not the collapse of XRP.

Crypto analyst JD also made a similar argument on leveraging different standards. JD’s chart shows that XRP has been unsatisfactory performance BTC since January 2017, leading to a 7-year symmetric triangle. However, amid the recent sharper declines, XRP witnessed a retest of the lower trendline of this triangle.

JD sees this as a signal for major momentum, especially when combined with the formation of a hidden bullish divergence on the XRP/BTC 2-week chart and an imminent crossover of the RSI line above the MA line. JD expects the next move against BTC to be “life-changing.”

Meanwhile, Crypto Trading Account 5.0 Trading express similar bullish sentiments, noting that XRP recently broke its downtrend against Bitcoin on the daily chart. Notably, XRP has been outperforming BTC over the past two days amid Bitcoin collapses below $60,000.

As a result, XRP is up 9% against BTC over the past two days, with the XRP/BTC chart currently trading at 0.0000891. Trading 5.0 confirmed that this sustained uptrend helped XRP break out of the daily downtrend, with a 4x XRP rally imminent against Bitcoin. XRP currently changes hands at $0.5136, trading flat over the past 24 hours.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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