Ripple (XRP) Continues To Outperform Most Cryptocurrencies During Sell-Off

Ripple (XRP) Continues To Outperform Most Cryptocurrencies During Sell-Off

Ripple (XRP) has been known to outperform the market in good times but in the past when Bitcoin (BTC) would fall, XRP/USD would fall a lot more. However, this time that trend seems to have changed completely. During the crashes in the last few months, we have seen XRP/USD perform better than most cryptocurrencies including Ethereum (ETH), Litecoin (LTC) and Stellar (XLM). This is a strong testament to the level of interest in Ripple (XRP) as an investment. In light of all the positive developments surrounding Ripple (XRP)’s partnerships with banks and financial institutions, investor confidence seems to be quite high despite the fact that most of them are holding at big losses. Ripple (XRP) has one of the largest numbers of hodlers among all cryptocurrencies and a very loyal community that believes in its future.

The daily chart for XRP/USD shows that Ripple (XRP) as at one of the most critical points in its entire trading history. The price has declined to the bottom of a descending triangle and is now waiting on Bitcoin (BTC) to make its next big move. It is important to note that XRP/USD has a strong support around this level in the form of a previous resistance turned support. The price is highly unlikely to close below this level even though it can crash below it but the buy wall beneath this level would rapidly buyback any coins sold under current levels. This might be one of the best times to start accumulating XRP/USD as the price is expected to rise well above its previous all-time high in the months and years ahead.

Ripple (XRP) has long been a strong buy for long term. Now that its fundamentals are better than ever, XRP/USD is likely to become a part of institutional portfolios during the next bull run. The Ripple community considers XRP to be a lot better than BTC in terms of tech and adoption. They believe that Ripple (XRP) has a better chance of achieving mainstream adoption compared to Bitcoin (BTC) or other cryptocurrencies. Given this aura of immense confidence and optimism around XRP, Ripple (the company) may decide to IPO in the near future to fully capitalize on such a strong level of interest and enhanced odds of mainstream adoption.

The long term prospects of Ripple (XRP) are a lot better than most cryptocurrencies given its use case and odds of adoption, but we have reasons to believe that it is also going to perform a lot better in the short term. Things may not look as good under present circumstances when most cryptocurrencies are down more than 90% from their all-time highs but the daily chart for XRP/BTC shows that Ripple (XRP) is trading in a giant bullish pennant against Bitcoin (BTC) and is ready for ane explosive break out to the upside soon as the dust settles. This break out would most likely be fueled by institutional adoption of Ripple’s XRP token and its xRapid service on a major scale.

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