Ethereum
$590.40 -3.77%
ETH · 5w

Crypto Trader Says XRP Must Hit This Mark to Trigger Long-Awaited Rally As Assets Lags Behind Bitcoin and Ethereum

A popular crypto analyst and trader is identifying the key level that XRP must hit to initiate its long-awaited bull rally.

The pseudonymous strategist who goes by the name Pentoshi says that while XRP is a laggard in comparison to its large-cap peers such as Bitcoin (BTC) and Ethereum (ETH), it could play catch-up in the coming weeks.

“XRP It’s bull run starts above .30-.33c 17′ resistance. 18′ support. Rounding off on the weekly. Just not quite there yet though. Maybe in a week or two it can close above BTC allowing. But for now it’s lagging.”

Source: Pentoshi/Twitter

According to Pentoshi’s chart, XRP is forming a bullish reversal pattern that can end its nearly three-year-long bear market.

In addition, XRP has tagged resistance between $0.30 and $0.33 multiple times already, which makes it likely for the fourth-largest cryptocurrency to successfully breach the area on the next attempt, according to Pentoshi.

“Honestly looks close though. I doubt that area acts as resistance if hit again.”

XRP has been a relative underperformer for most of 2020. At time of writing, Ethereum is up over 210% year-to-date as it trades at $405, according to CoinMarketCap.

As for Bitcoin, the world’s largest cryptocurrency has gained more than 90% over the same stretch. Meanwhile, XRP has managed to climb around 30% from $0.19 at the start of 2020 to its value of $0.25 today.

Check Latest News Headlines Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The...
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