XRP Price Outperforms Bitcoin, Ethereum As ‘Strange Signal' Emerges, Why The Target Is $4
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The XRP price, while still being well below its all-time high price, is doing incredibly well after the market rebound. The altcoin has been able to outperform the likes of Bitcoin and by a large margin, showing its strength in the market recently. This comes as crypto analysts in the community have been predicting and calling for higher prices, expecting XRP to keep outperforming the heavy-hitters.
XRP Leaves Bitcoin And Ethereum In The Dust
Pro-XRP lawyer Bill Morgan took to social media to share an important update about the recent XRP price performance. The screenshot shared in the X post showed that when compared to Bitcoin and Ethereum, XRP has performed exceptionally well.
The XRPUSDT pair showed XRP was up 9.96% in the last week at the time of the post. In contrast, the XRP/BTC pair showed a1.18% increase in seven days and 1.50% increase in 24 hours. Then when compared to Ethereum, the numbers were even worse. The XRP/ETH pair showed a 20.73% crash in seven days, while the 24-hour performance showed a 5.18% decrease.
'Strange Signal' Says A Blowout Is Coming
Crypto analyst MasterAnanda has pointed out a 'strange signal' that has been forming on the XRP price chart. This signals comes with the rapid changes in candle formation on the price chart through the bear and bull cycles. This candle formation refers to the volatility and price swings experienced by the altcoin each time.
The first one the crypto analyst points out is the fact that back in December 2024, XRP was forming big candles with the peaks at the beginning of the month. This continues even when the price turns and began going downwards.
Read More ChatGPT thinks XRP will surge by 8x by the end of 2024
Then again, in the middle of January 2025, the same thing happens as the candles grow bigger when the price peaks again. They continue on into April as XRP continues to struggle through high volatility and rapid price swings.
Source: TradingView
However, it seems the trend in candle formation had begun to change as volatility and price swings fell. From mid-April toward the end of the month, the crypto analyst explains that there are smaller candles while the price grows. As the volatility fell, the analyst notes that XRP moved low but never made a new low, calling this a bullish signal.
Related Reading: Still Holding TRUMP Coin? This Analyst Says Recovery To $79 Is Coming
'When the market was bearish, prices were moving down with force,' MasterAnanda wrote. 'Now the market is bullish confirmed because when resistance is hit, there is no bearish force, no bearish action no bearish momentum; just consolidation before additional growth.'
If this bullish signal plays out, then, going by the analyst's chart, the XRP price could be looking at a rally toward $3.6. This would be an over 50% jump in price from the current level and perhaps push it toward new all-time highs.
Market rebound sends price above $0.4 | Source: XRPUSDT on TradingView.com
Featured image from Dall.E, chart from TradingView.com
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