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xrp bitcoin ethereum crypto altcoin performance

Underdog Story: Why XRP Could Soon Outperform Bitcoin And Ethereum

Tony "The Bull" by Tony "The Bull"
3 years ago
in Cryptocurrency Market News, Ripple, Technical analysis
Reading Time: 3 mins read

XRP has become among the more somber stories of the crypto market since the bubble burst. The once third-ranked asset has fallen down the list of top crypto assets, due to nearly three years of underperformance compared to the rest of the market.

However, that underperformance could turn into an underdog story, where Ripple roars past Bitcoin and Ethereum and beats the rest of the crypto space. Here’s what technicals are possibly saying about a powerful new XRP uptrend.

XRP Led Last Crypto Rally To All-Time Highs

Back in late 2017 and early 2018, Bitcoin peaked at $20,000, Ethereum at over $1,400, and Ripple at over $3.80 per token. Then they call came toppling down and spent ever since in a bear market.

Related Reading | XRP’s 30% Decline Falls To Bottom Of Cloud, Stormy Days Ahead If Support Fails

But did you know that it was XRP that led the initial charge in early 2017, and helped carry both Ethereum and Bitcoin higher?

xrp btc eth ripple bitcoin ethereum td

Ripple Versus Bitcoin And Ethereum Comparison Line Chart | Source: TradingView

Looking back to March 2017, its quite clear that XRP rallied first and by the furthest, before Ethereum followed and later Bitcoin caught up to the altcoins pumping. The altcoin known as Ripple then began trading sideways for months, and eventually, Ethereum and Bitcoin stole the show and have been outperforming XRP since.

But all that could soon change, and just like last time, Ripple could soon surge and send the crypto market into a tailspin and lead the charge into the next bull market.

Ripple To Rip Past Bitcoin and Ethereum Leading Greater Market Recovery

The cryptocurrency total market cap was up over 80% year to date at the 2020 high, but has since taken a breather after an especially hot summer. At the start of the breakout in July, XRP beat out other altcoins and the top-ranked cryptocurrency in week-over-week performance.

Once again, things have since cooled off for Ripple, but it could be the calm before the storm. XRPBTC and XRPETH price charts both are potentially signaling a repeat fo Ripple leading the way for the crypto market.

xrp btc eth ripple bitcoin ethereum rsi

XRPBTC & XRPETH Weekly Relative Strength Index | Source: TradingView

Along with a massive falling wedge pattern on both pairing’s price charts, there are also several bullish divergences. Each low put in was also characterized by a wick below the trendline to shake out traders before the actual move takes place.

Related Reading | Soaring Ethereum Fees Could Cause A Gloomy Future For The Altcoin

Zooming out further to monthly timeframes, each has triggered a TD 9 or 13 buy signal at the bottom of what has been an extended downtrend against the two top assets in the space.

xrp btc eth ripple bitcoin ethereum td

XRPBTC & XRPETH Monthly TD Sequential Indicator | Source: TradingView

With all of these technicals pointing to an XRP breakout against both Bitcoin and Ethereum, and past evidence showing that Ripple was the first to pump, a major rally in crypto could soon be here.

Tags: altcoincryptoethereumethxrpRipplexrpXRPBTCxrpethXRPUSDxrpusdt
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Tony "The Bull"

Tony "The Bull"

Tony is the “always-on” Editorial Director and Head of Research at NewsBTC, leading a talented team of writers and editors across several different global time zones. Tony is also the founder of CoinChartist.io – an educational website focused on crypto trading. Partners include Elliott Wave International, TradingView, and more. Tony’s background includes an extensive, award-winning media production career and over fifteen years of publishing operations and management. In the past, Tony has founded several media websites and his content has been read billions of times. Past clients include the BBC, Fidelity, and many others. Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. He owns a python named Satoshi. Tony longs for the day when money is separated from the state. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check out his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter. You can also follow @CoinChartist_io on Twitter and subscribe on YouTube.

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