Potential for XRP Price Surge Amidst Declining ETH Whale Activity

XRP has outperformed ETH by over 250% since November 2024, possibly indicating a continued bullish trend. Currently priced at $2.10, XRP may break out of a falling wedge pattern, potentially surging to $3.40. Meanwhile, ETH whale activity is decreasing, hinting at market shifts that may benefit XRP’s momentum against ETH.

The XRP price has observed a significant increase, outperforming Ethereum (ETH) since November 2024, with gains surpassing 250%. Current trading places XRP at $2.10, following a 1.3% rise in the past 24 hours. XRP has maintained consistent monthly gains against ETH, leading to speculation regarding its potential to continue this upward trend, especially as ETH whale activity dwindles.

Notably, XRP’s price surged dramatically from $0.49 to $3.39 within a few months, marking a historic gain of 250% against ETH. This trend includes substantial monthly performances: 160.4%, 18.5%, 47.3%, 4.3%, and finally 19.6%, in a situation where ETH has faced challenges. Although XRP has experienced volatility historically, its recent consistency indicates a potential shift.

Currently, XRP is poised for a 57% increase as it attempts to break out of a falling wedge pattern established over 135 days. If successful, XRP could reach approximately $3.40. Resistance levels are anticipated at $2.29 and $2.62, while support exists around $1.9 and $1.6. The Moving Average Convergence Divergence (MACD) indicator also shows signs of a possible bullish crossover.

On chain metrics reveal a decline in ETH whale accumulation, with large holders dropping from 392,000 ETH to 70,450 over eight days. This decrease suggests whales may be offloading their holdings, which could result in increased volatility for ETH. As futures traders close their XRP shorts, a common precursor for upward momentum is indicated, reinforcing the bullish outlook for XRP.

XRP’s sustained dominance against ETH is indicative of shifting market dynamics, coupled with favourable conditions for a potential rally. While Ethereum maintains a strong presence due to its extensive DeFi and NFT ecosystem, XRP’s promising trajectory could enable it to challenge ETH’s position sooner than anticipated.

Disclaimer: The views expressed in this article are strictly informational and do not constitute investment advice. Cryptocurrency trading carries significant financial risks.