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XRP is at an interesting point in its journey, especially when looking at its performance against Ethereum (ETH). Over the weekend, the altcoin made headlines by gaining 6.5% in value against Ethereum, continuing an impressive surge that has been building up over the last two months.
Since then, XRP has surged by 368% against ETH, rising from 0.0001789 ETH to 0.0009215 ETH per XRP. At one point during this rally, the surge was even more dramatic, with XRP peaking at 0.001 ETH — a 450% increase.
Gamza KhanzadaevRight now, it's important to look at how XRP's price is moving in relation to the Bollinger Bands on a daily time frame. For those unfamiliar with Bollinger Bands, it's a technical tool that helps traders understand if an asset is overbought or oversold and where it moves through three price curves.
With XRP, the price recently bounced off the lower band and started moving toward the median band. This suggests that the market might be ready for a shift, and if XRP can break through its next resistance levels, it could be ready for a bigger move.
What's next?
The 0.001 ETH mark is a key level to watch as XRP hit that during its rally before. If it can get past that, it will be closer to testing those higher levels again. Beyond that, the resistance zone to watch could be around 0.00127 ETH, which is a more conservative target, but it could still give XRP's value a big boost.
Tomiwabold OlajideWhile the high-water mark for XRP against Ethereum is still the historic 0.0125 ETH from August 2015, even reaching a fraction of that would have a major impact. At that point, XRP could hit around $33.27.
But for now, we are watching to see how XRP handles these resistance zones and if it can keep up the momentum it has built up.
Yuri Molchan
Arman Shirinyan
Dan Burgin
Vladislav Sopov