PrimeXBT Analysis: Why Ripple Could Soon Outperform Bitcoin and Ethereum

During the height of crypto market enthusiasm in late 2017 and early 2018, you couldn’t have a conversation about cryptocurrencies without the mention of Bitcoin, Ethereum, and Ripple – also known across the market by its native ticker symbol, XRP.

Bitcoin’s meteoric rise in late December 2017 was eclipsed by Ethereum and Ripple in early 2018 as crypto investor FOMO prompted a digital age gold rush into any altcoin they could get their hands on. The bubble eventually burst, these asset’s valuations came back down to reality, and they’ve spent the last several years re-establishing their footing before the next bull run.

That bull run is just about here, and PrimeXBT analysts have uncovered some interesting details in Ripple forecast charts that indicate that the now fourth-ranked cryptocurrency behind the growing stablecoin Tether, will soon outperform Bitcoin, Ethereum, and the rest of the crypto market by a wide margin. Here’s why XRP is the one to watch in late 2020 and into early 2021.

2019 Was the year of Bitcoin, 2020 Ethereum’s year, and 2021 will be all about XRP

A rising tide lifts all boats. The old adage reflects well on the cryptocurrency market. When Bitcoin performs well, so does the rest of the altcoin space. And when altcoins rally, Bitcoin soars.

In 2019, Bitcoin’s safe haven narrative and rise alongside gold amid increasing tensions between the US and China caused the digitally scarce cryptocurrency to rocket. The DeFi explosion in 2020 so far has propelled Ethereum back as the clear crypto market leader.

Over the past two years, however, left in Bitcoin and Ethereum’s dust has been Ripple. The token has been among the worst performers in the top ten cryptocurrencies by market cap for more than two years running, and it lost its third-rank spot to a token that doesn’t increase in value at all: Tether.

But as the likes of contrarian investors like Warren Buffett and Baron Rothschild have told generations of traders, it’s often when sentiment is the lowest when the most extensive financial reward is possible. That point very well could be now, just as investors have just about forgotten about Ripple among the glamor and glitz of the DeFi bandwagon.

Meanwhile, the pandemic has created a need for a fast, fluid, digital cross-border payment network that can work interchangeably with other assets – the same sort of system that Ripple offers. And the current economic climate has left banks in significant trouble and in search of real-world solutions that can save them precious limited money and resources.

Long-term technical analysis suggests it is Ripple’s time to shine

Technical analysis looking specifically at Ripple’s close relationship with Bitcoin and Ethereum is also potentially telling about what’s to come. Against the dollar, all three top crypto assets are all looking bullish in the short- and long-term once again, but when comparing each crypto asset against one another, no asset is giving more bullish technical signals than XRP.

On the XRP/BTC trading pair, a breakout of a massive, multi-year falling wedge is retesting diagonal resistance turned support, and thus far holding firm. Note how XRP specifically experiences an explosive rally, followed by nearly a full retrace, and then another similar-sized spike.

If the bullish reversal pattern’s breakout offers similar upside momentum, XRP will significantly beat out Bitcoin over the next six months to a year.

The same technical chart formation has also appeared on the XRP/ETH trading pair, a rare trading pair that few people actually trade, but savvy crypto analysts pay close attention to for signals that one asset may outperform the other. And the long-timeframe price chart between the two top crypto assets shows that although Ethereum has been easily beating out Ripple for the last two years, that’s all about to change dramatically.

Topping it all off is a fall to long term support, currently holding after a monthly TD Sequential 9 buy setup triggered. This signal is among the most accurate tools for calling tops and bottoms in the digital asset space.

Ripple effect: History doesn’t always repeat, but it often rhymes

Past results aren’t a guarantee of future success, but historical recurrence does exist. History does tend to repeat itself, even if the outcomes don’t unfold in the same exact sequence. Still, looking back at how past market cycles have performed can shed light on what to expect in the future.

In the below comparison chart, Ripple (blue), Bitcoin (orange), and Ethereum (purple) price action over the last few years shows that Ripple rarely outperforms Bitcoin and Ethereum, but when it does, it does so in a major way.

The chart also shows that although Ripple trading lagged behind Bitcoin and Ethereum at first in 2017, it was Ripple that had the first significant breakout. Then, XRP vastly outperformed the market, but later Ethereum, and then Bitcoin caught up. Those two assets led the path to all-time highs, but Ripple’s surge was by far the strongest.

Now, Ripple’s fallen back to a nearly flat baseline, while Bitcoin and Ethereum have made decent recoveries. Next, it’s Ripple’s turn to recover, and in the past, when XRP breaks out, it rises over 3,000% or more.

Go long XRP against the Dollar Or Bitcoin with PrimeXBT

The conditions are nearly perfect for the cryptocurrency to begin its takeover of the banking system and cross-border payment industry. While decentralized finance is a much-needed alternative to traditional finance, traditional finance and big banks are likely here to stay. When the crypto market realizes this and sees Ripple as central to the coming crypto movement, the rally will begin before investors are ready to take a position.

Don’t be left behind this time around by only focusing on Bitcoin and Ethereum, and instead look for the diamond in the rough. XRP is poised for a repeat of its incredible strength that only comes once every so often. But when it does, it turns small investments into substantial wealth in a matter of weeks, not years.

Take a look for yourself at the charts, using PrimeXBT’s built-in technical analysis software integrated from industry-best TradingView. After deciding where the ideal entry is based on support and resistance, you can take a long position in either XRPUSD or XRPBTC to profit from the coming overperformance in the altcoin versus the rest of the crypto space. The advanced, award-winning trading platform also offers various tools for stop-loss protection and risk management, as well as targeted take profit orders that trigger when the price you want is reached.

Editorial Note: This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.