XRP Up-Move To Leave Bitcoin And Tether Traders “Sidelined”

Tony "The Bull" Severino

Last Updated: October 5, 2020 8:00 pm

3 mins read

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XRP continues to lag behind the rest of the crypto market, including Bitcoin and Ethereum. It has resulted in the altcoin losing the third-ranked spot to the stablecoin Tether.

But all that’s soon going to change, according to one crypto analyst, who says Ripple will soon leave the rest of the crypto market sidelined as they look on in awe.

Ripple Readies First Higher High Since Crypto Bubble Popped

Few altcoins have suffered as badly as XRP. Whether it truly is executives and early pioneers associated with the project’s constant selling keeping prices down, or something else, Ripple has been a clear underperformer for years now.

While other crypto assets have experienced at least some ebb and flow, Ripple has mostly been flowing downward, deeper and deeper into a downtrend.

By definition, a downtrend is a series of lower lows and lower highs, something that XRP holders know far too well. But according to a pseudonymous crypto trader, the altcoin created by Ripple could soon leave the rest of the crypto market, Bitcoin and Tether included, sidelined.

And it all begins with the first projected higher high, and an attempt at reclaiming 2017 resistance, which also would form a right shoulder on an inverse head and shoulders reversal pattern.

XRPUSDT Daily First Projected Higher High | Source: TradingView

Bitcoin Pair Positions XRP For Major Market Overperformance, Targets Tether’s Third-Rank

XRP blasting off while Tether stays sidelined isn’t all that shocking given the stablecoin’s value rarely fluctuates, but Ripple giving Bitcoin a beating is rare.

Ripple has spent the last three years in free fall against the first-ever cryptocurrency, but that might all change soon according to the XRPBTC trading pair. This chart looks just as bullish and has reclaimed a key support level according to the chart shared by a crypto analyst.

XRPBTC Resistance/Support Reclaim and Inverse Head And Shoulders Pattern | Source: TradingView

A similar triple bottom pattern resembling an inverse head and shoulders is also breaking upward suggesting the USD pair could soon follow. If this happens, XRP could trend higher and leave Bitcoin and the rest of the crypto market in its dust.

XRP has spent the last two or more years lagging behind the rest of the space, while the likes of Ethereum and Chainlink run amok. If the altcoin has a breakout as it has in the past, not only could it target retaking Tether’s third-rank, it could take a shot at Ethereum’s number two spot once again.

Featured image from DepositPhotos, Charts from TradingView

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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