Despite the disappointing performance of XRP in recent times, a crypto analyst has remained optimistic, predicting a bullish outcome for XRP, suggesting investors can still profit from the cryptocurrency.
XRP On Profit Watchlist
In a recent X (formerly Twitter) post, crypto analyst and trader, “CrediBull Crypto,” has provided valuable insights into XRP’s potential to provide profitable returns for investors. The analyst has urged crypto enthusiasts and investors to turn their attention to XRP, highlighting possible bullish momentum that could see the cryptocurrency witnessing exponential gains.
Sharing a video representation of his analysis on XRP/BTC price movements over a three-day chart, the crypto analyst spotlighted XRP’s historical price trends dating back to 2017 and 2018. During this time, XRP stood out as one of the top-performing cryptocurrencies, surging to an all-time high of $3.84.
Additionally, the analyst revealed a noteworthy price surge in 2014, when XRP outpaced Bitcoin by 7x in a month. Shedding light on other substantial short-term bullish periods, where XRP outperformed Bitcoin by 60x and 17x, each lasting for months, the crypto analyst disclosed that XRP’s bullish runs tended to be aggressive and short-lived.
According to CrediBull Crypto, current technical indicators are signaling a similar bullish uptrend for XRP soon. He predicted that XRP is poised to revisit a “deviation area,” where its price would potentially trade at new lows. However, if the cryptocurrency can successfully overcome historical resistance, XRP can achieve a 200% gain over Bitcoin in the upcoming days or weeks.
XRP To Outperform Bitcoin And Ethereum
During his video analysis, the crypto analyst revealed that XRP is positioned for a substantial price surge following Bitcoin. He noted Bitcoin’s recent upward trajectory, predicting that if BTC surges to $60,000 in the coming weeks, XRP’s price could follow suit, eventually outperforming the cryptocurrency.
According to the CrediBull Crypto, XRP has the potential to emerge as one of the leading cryptocurrencies in the altcoin race. He shared insights on an XRP/ETH price chart, suggesting that XRP could also surpass Ethereum, provided it successfully breaks through crucial price resistance levels.
At the time of writing, the price of XRP was trading at $0.54, reflecting a 3.06% decline in the past 24 hours, according to CoinMarketCap. The cryptocurrency has consistently struggled to accumulate enough gains to maintain a price above $0.5. However, if historical trends repeat, the price of XRP could skyrocket to new all-time highs, accumulating gains that could surpass even those of Bitcoin and Ethereum.