Ripple Outperforms Bitcoin & Ethereum, Eyes 25% Rally

Ripple (XRP) price has shown incredible resilience over the past few weeks, outperforming the likes of Bitcoin (ETH) and Ethereum (ETH). This bullish outlook is unlikely to fade especially now that Bitcoin price has shown strength. Therefore, investors should expect the XRP price to trend higher on the daily time frame and catalyze a quick rally if it can overcome key levels.

XRP Price & News: Ripple Outshines Top Coins, Will Uptrend Continue?

• XRP price has rallied nearly 26% in the past seven weeks, while Bitcoin price is down -4.75%. Ethereum, on the other hand, has shed -24.37% in the same period and is the worst performer in the bunch. The bullish outlook for XRP results from the SEC vs. Ripple lawsuit victory in the defendant’s favor. 

• While the above point is bullish, investors also need to consider that the stablecoin supply held on exchanges is climbing nonstop, according to Santiment data. This capital is likely to flow to the altcoins that have strong performance or show signs of potential reward. So, investors can expect XRP to be one of these cryptos. 

Ripple Price Analysis: XRP Bulls Plan Their Next Move

XRP price recently bounced off the yearly Volume Weighted Average Price (VWAP) at $0.560, triggering a near-10% rally. But XRP, the remittance token, is still stuck between $0.556 and $0.626 daily resistance levels. Fortunately for Ripple bulls, the demand zone, extending from $0.550 to $0.584, is there to support any incoming pullbacks. 

Under neutral-to-bullish market conditions, a retest of this demand area will most likely be met with a buying pressure spike that could provide Ripple price with the momentum to overcome the $0.626 hurdle. Flipping this key resistance level will open the path for Ripple bulls to catalyze a rally to $0.716. The retest of the $0.716 hurdle would signal a 25% rally for the remittance token.

This level has been a critical blockade since August 2023 and has resulted in three rejections. So, investors must be careful around $0.716 and consider booking profits. 

On the other hand, if XRP price fails to overcome $0.626, it would signal a lack of buyer interest. Such a development could result in a retracement to $0.550 to $0.584 demand zone. A breakdown of this support area will invalidate the bullish thesis. 

This development could induce a 9% crash in XRP price to the yearly VWAP’s lower band at $0.501.

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Akash Girimath

Akash Girimath is an engineer at core, but is interested in the chaos of the financial markets. Akash is senior report and analyst who also trades cryptos on a regular basis and maintains a small crypto fund for friends and family.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.