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Ripple (XRP) Has Positioned Itself For A Big Run Against Bitcoin (BTC)

 
Ripple (XRP) Has Positioned Itself For A Big Run Against Bitcoin (BTC)
Breaking News / Cryptocoins / Analytics / Ripple

Ripple (XRP) has positioned itself for a big rally against Bitcoin (BTC) in the weeks ahead. The 4H chart for XRP/BTC shows that in August 2018, the price found support atop a trend line that it broke below in September, 2018. Then during September, the price shot back up above this trend line and once again found support above it. This trend line was used as support by XRP/BTC to test the horizontal resistance at 89,826 satoshis. The price kept on facing rejection at this level until it managed to break above it in November, 2018. There afterwards, the horizontal resistance (shown in yellow) turned into horizontal support. This means that XRP/BTC now has a horizontal support as well as a trend line support. This makes it a plausible setup for a bullish entry at current prices.

The ADX and DI indicator on the above chart also point to a breakout in the upwards direction. This is a very favorable development for Ripple (XRP), one that will see it making big moves against Bitcoin (BTC) during the upcoming market rally. The market cap difference between Ripple (XRP) and Ethereum (ETH) is now close to $1 billion after Ethereum (ETH) recently reclaimed its spot and once again became the second largest coin by market cap. However, the balance could easily shift in favor of Ripple (XRP) during the next rally as it is better positioned to gain against Bitcoin (BTC) than Ethereum (ETH). Furthermore, Ethereum (ETH) rallied hard on positive sentiment around the Constantinople fork but it is due for a retracement now which alone could push Ripple (XRP) back into second spot.

Ripple (XRP) has seen a massive improvement in its fundamentals over the past few months. There is a high probability that its market cap would skyrocket and reach a valuation close to Bitcoin (BTC) soon as the market recovers. That may be short lived but the compound effect of the events that have lined up over the past few months is going to show up as we head towards recovery. Bitcoin (BTC) could also benefit from developments surrounding lightning network and general adoption but it is Ripple (XRP) that is likely to push forward its adoption with a more rapid pace. Apart from the major financial institutions that have partnered up with Ripple (XRP), if fintech giants like Paypal, Stripe or a major credit card company partners up with Ripple (XRP) to allow for payments to be processed in XRP that would change the whole game.

Ripple (XRP) is known for making its own moves and for the next two years when the market is expected to trade sideways, XRP/USD could be expected to do something out of the ordinary especially if it ends up signing payment gateway partnerships. Ripple (XRP) is a cryptocurrency and it follows in the footsteps of Bitcoin (BTC) most of the time but as time goes by and the market matures, we will see most of these cryptocurrencies making their own moves. It is only reasonable to expect that considering Ripple (XRP) and Bitcoin (BTC) have nothing much in common apart from both being termed as cryptocurrencies.

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