In the shifting landscape of digital currencies, Ripple’s XRP is currently outshining Bitcoin with an impressive growth trajectory, surging nearly 30% against the crypto world’s firstborn. XRP has resilience amidst a tough market downturn and has the potential for an unprecedented rally against Bitcoin.
XRP: The Unscathed Champion in a Bleak Market
While Bitcoin has borne the brunt of a falling crypto market, XRP has shown remarkable resistance to this downward spiral. The latter has not only held its ground but emerged stronger, exhibiting a 30% gain against Bitcoin over the past few weeks. Surpassing key resistance points, XRP appears primed for a formidable rally, a testament to its ever-growing robustness amidst a challenging market.
Dark Defender, a veteran crypto analyst, recently underscored XRP’s bullish trend, noting that the cryptocurrency had successfully navigated through two significant resistance points against Bitcoin, setting the stage for a possibly game-changing rally.
XRP has cleared 2 #significant resistances at #XRP/#BTC Pair.
We expected a reversal last time and had a bullish monthly candle close in May.
We will see extreme XRP appreciation against BTC very soon.
Examples:
BTC –appreciates to 30k–> XRP appreciates $1.44
BTC… pic.twitter.com/B1ILhOWDZn— Dark Defender (@DefendDark) June 1, 2023
Breaking the Chains of a Long-Term Downtrend
A historical analysis reveals that XRP has been entangled in a downward trendline since May 2017 after plunging from an all-time high of 0.0002401. Fast forward to September 2022, XRP managed to break free from this downward trajectory but continued to grapple with a formidable resistance point. However, a shift occurred last month, with XRP breaking this critical resistance and surging ahead of Bitcoin.
“Extreme XRP appreciation against BTC is imminent,” predicts Dark Defender, painting a scenario where Bitcoin rebounds to the $30K mark. The expert believes that in this context, XRP could surge to a 2-year high of $1.44, surpassing Bitcoin in terms of percentage gains. The potential for XRP to maintain its value, even if Bitcoin falls to $10K, further underscores its resilience.
Looking Back: The Historical Significance of 2017
The current scenario echoes the year 2017 when XRP shattered a similar resistance point and outshone Bitcoin by a whopping 605% within two months. Given this history, many analysts are hopeful of a repeat performance that could propel XRP to new record highs.
Cryptic Poet, a well-known crypto trader, corroborates this bullish outlook for XRP. Pointing to the fact that XRP has outpaced Bitcoin by 30% in the past month, the trader highlights the increasing dominance of XRP in the crypto market.
Supporting this, another crypto analyst, Ryan, pointed out XRP’s strong resistance against market bears compared to Bitcoin since March 2021. Interestingly, while Bitcoin’s value has plummeted by 55% over the last two years, XRP has held its ground, maintaining around the $0.50 mark.
If someone told you in March 2021 when $BTC was $60,000 and $XRP was $0.50.
That in 2023, Bitcoin will be $27,000 and XRP would still be $0.50.
Would you have believed them?
— Crypto Ryan (@CryptoRyan17) May 31, 2023
Signs of an Imminent Rally
The surge in XRP’s daily active addresses on May 28 and May 29 hints at its growing popularity. As of this writing, XRP is trading at $0.5253, up 1.12% in the past 24 hours, while Bitcoin lags behind at $27,175, posting a 0.10% gain during the same period.
And as the saying goes, ‘History tends to repeat itself,’ the crypto community eagerly anticipates if XRP will once again mirror its 2017 triumph.