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- In a recent market analysis, XRP has outperformed the second-largest cryptocurrency, by 34.24% over the past two weeks.
- Experts have come out strong predicting further gains for the asset with some suggesting that now may be a good time to invest in XRP.
In a recent analysis on X, a popular market watcher highlighted that XRP has experienced a 34.24% surge compared to the second-largest cryptocurrency, Ethereum. Market watcher RunnerXBT further cited an instance where an investor who opted to buy XRP instead of ETH during Bitcoin’s dip to $54,000 earlier this month would have reaped substantially higher returns.
According to RunnerXBT, July 5 is a key reference point, as XRP and ETH hit one of their lowest points. Since its recent low, XRP has significantly outperformed Ethereum, gaining 34.24% The pair currently trades at 0.0001724, maintaining an 11% weekly increase and a 23% overall advantage against Ethereum.
Over the past three months, XRP has surged by over 65% from $0.385 to a high of $0.6366, while Ethereum’s growth has been modest at 24.41%, climbing from $2,826 to $3,516.
It is worth noting that both Ripple and ETH have been in the heat of the moment. Focusing on Ripple, the cryptocurrency community has been abuzz over the recent weeks following the Ripple vs SEC case. As CNF earlier reported, XRP has undergone tremendous price growth which can be solely attributed to the growing anticipation of a settlement between Ripple and the SEC.
On the other side, the Ethereum community not forgetting both institutional and retail investors have been on the edge following the launch of the highly anticipated Ethereum ETF. This anticipation has led to a significant price rally for Ethereum though not enough to match Ripple’s bullish momentum.
Amid XRP’s upward trajectory, analysts are still persistent on this positive momentum. As earlier reported on CNF, Prominent market analyst Javon Marks made a bold prediction regarding the future of XRP. According to Marks, Ripple’s XRP could increase in value by a staggering 41,400% and go beyond the $150 mark. He made this prediction on X while pointing to XRP’s historical price trends.
Is it a Great Time to Buy XRP?
Another analyst, the renowned “Sensei Hov,” also expressed confidence in XRP’s trajectory. Having witnessed a 66% gain from his entry point, Hov anticipates a temporary retracement before the price resumes its upward climb. He identifies the $0.47 level as a critical test of XRP’s bullish momentum.
Additionally, a U.S.-based wealth advisor has strongly come out saying that it’s a good time to invest in XRP. At the time of writing, XRP is changing hands at $0.6262 marking a 4.26% and 31.42% surge in the last 24 hours and one month consecutively. According to Mickle, XRP is poised for further gains.
Focusing on Ripple’s technical analysis, the weekly chart of XRP suggests a bullish price trajectory. The price is above the middle Bollinger Band, indicating upward momentum. Also, the RSI stands at 57.50 showing a slightly bullish momentum, while significant trading volume supports the current price movement.
