XRP (CRYPTO: XRP) is expected to outperform Ethereum (CRYPTO: ETH) in the upcoming months, according to market commentators bullish on the token’s future.
What Happened: Pseudonymous commentator CrediBULL Crypto noted that XRP/ETH has reached a key support zone after a three-month correction from a 700% rally.
While ETH/USD surged in a clean five-wave impulse from $2,100 toward its all-time high, XRP/USD has been consolidating above its ATH for nine months, a pattern the trader says resembles prior pre-breakout setups seen in Bitcoin and XRP itself.
CrediBULL believes the current setup signals XRP may soon outperform ETH, with XRP preparing for its next leg higher while ETH consolidates recent gains.
He noted that both Bitcoin and XRP previously spent months consolidating near prior all-time highs before expanding further, an expected behaviour as holders typically take profits at such levels following a major bear market.
More Crypto Online sees weekly XRP chart remains intact, consolidating below $3.40.
A breakout above could trigger a sharp move toward $5.67+, with upside momentum wide open.
Also Read: XRP Down 6% In 1 Week As ETH Keeps Pumping: What Is Going On?
Why It Matters: Coinbase Institutional rolled out nano XRP perpetual futures on Coinbase Derivatives, expanding exposure for U.S. traders ahead of a delayed spot XRP ETF decision.
This enables traders to open positions without needing a large amount of money.
Ripple highlighted that crypto exchange Bullish settled part of its IPO proceeds in RLUSD on the XRP Ledger, the first time an IPO used fully on-chain settlement, a potential precedent for stablecoin-driven capital markets.
Read Next:
Image: Shutterstock
