XRP Price Prediction: A Bullish Reversal Against Bitcoin Is Reportedly Around The Corner
The crypto market has been extremely volatile, and the the other day, the most important coin in the crypto market fell by about $800 in only an hour.
Speculation regarding potential rumors began immediately, as expected.
The market volatility was really high lately, and this fall in price for Bitcoin came after a few ups and downs above and below $10k.
XRP was also racing yesterday, and the coin dropped in price as well following the fall of BTC.
At the moment of writing this article, XRP is trading in the red, and the coin is priced at $0.271558.
XRP is reportedly gearing up to outperform Bitcoin
There’s a crypto trader who said that XRP is gearing up to outperform BTC.
King Thies said that he’d spotted a bullish divergence in the monthly chart of XRP/BTC.
Just in case you don’t know, a bullish divergence is an indicator of a potential reversal of a trend.
This occurs when a crypto hits a lower low while a technical indicator such as MACD or the RSI forms a higher low.
“I’m sure there’s plenty others in the alt market in similar spots right now, but this slight Bull Div on the XRP/BTC monthly is impressive to say the least. Something is brewing in the alt markets,” the trader said.
The trader says that there’s a clear trend line breakout is underway and XRP turns resistance into support.
He expects that XRP will consolidate above the $0.26 level before making another move to the upside.
“Clear reversal for XRP, complete with strong volume and breakout + backtest. Both HOLDLers and traders alike will likely be happy with an entry in this current range of .26-.32c.”
Sensing potential local low on #BTC with price currently hovering $9.6k. First image shows bband squeeze + KDJ crossing
IMO we see a rocket to $11k (res shown on 3D chart shown in image #2)
Continuation to downside would suggest $8.8k as next potential level of interest. pic.twitter.com/SVqGygD7jm
— Parabolic Thies ♔ (@KingThies) February 17, 2020
Besides believing that XRP is set to outperform BTC, he also believes that the most important coin in the market will be embracing bulls as well.
He said that BTC is gearing up for a move above $11k.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.