XRP (XRP) May Outperform Ethereum (ETH) and Bitcoin (BTC) in the Next Market Cycle, Analysts Say

Despite recent price stability, some analysts are optimistic about the asset's potential to outperform leading assets like Ethereum (ETH) and Bitcoin (BTC) in the next market cycle.

The seventh-largest cryptocurrency by market cap, XRP, faced a major roadblock in December 2020 when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, alleging that the sale of the native token constituted unregistered securities transactions.

This legal action triggered a steep price drop and a prolonged stagnation. Even with recent legal wins, including a notable settlement, the token’s price has remained largely stable, trading close to its 200-day Exponential Moving Average (EMA) with relatively low volatility.

Despite the recent price stability, some analysts are optimistic about the asset’s potential to outshine leading cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC) in the upcoming market cycle.

Anymox, a well-known analyst, has forecasted a bullish future for XRP, highlighting a seven-year consolidation period as the foundation for a possible breakout. Anymox suggests that the token could surge to as high as $120, marking an increase of approximately 20,500% from its current levels.

Protector recently identified a completed five-wave pattern that aligns with XRP’s post-settlement rally. Protector suggests this pattern indicates that XRP may relatively out-perform Bitcoin over the longer term. While short-term corrections may occur, the analyst views the token’s overall trend as positive and anticipates strong growth in the upcoming market cycle.

Adding to the positive sentiment, analyst Doctor Profit has predicted that XRP will likely outpace Bitcoin, Ethereum, and Solana (SOL). Doctor Profit’s analysis suggests XRP’s technical indicators show a favorable outlook relative to leading altcoins, positioning it well for gains in the next cycle.

In comparison, analysts have noted ongoing challenges for both Ethereum and Bitcoin. Ethereum recently faced resistance around the $2,800 mark. If Ethereum struggles to hold its current level, additional declines could be possible, Cryptobullet noted.

Ethereum is finding support at the 0.618 and 0.5 Fibonacci levels, with a broader support range between $2,500 and $2,100. However, Cryptobullet suggests a period of consolidation at these levels may be necessary before a sustained upward trend is possible.

Bitcoin, on the other hand, is trading within an expanding triangle pattern. Moustache recently highlighted similarities between Bitcoin’s current pattern and one observed before the 2021 bull run, suggesting potential for a bullish movement if key support levels are maintained.

XRP is trading at approximately $0.5205, showing a modest increase over the past 24 hours, recent reports indicate. While the token’s short-term movement is limited, analysts’ bullish predictions indicate potential for substantial gains if it breaks out in the next cycle.

Despite the asset’s setbacks due to legal issues and market fluctuations, analysts are now highlighting its potential to outshine major cryptocurrencies in the next cycle. If these projections hold true, the token could be up for significant growth in the broader crypto market.

This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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