XRP Poised for Major Move Against Bitcoin, Says Crypto Trader
Renowned crypto trader KALEO has suggested that the XRP/BTC ratio is set for a significant shift.
The trader noted that XRP’s daily chart is breaking past a key resistance level established during last year’s Ripple victory rally. Over the past 24 hours, XRP has seen a 7% increase, outpacing the broader crypto market.
Today, the XRP/BTC ratio reached 0.0000099 BTC, its highest point since March, with nearly a 60% gain in under two months.
According to U.Today, XRP’s Bollinger bands have recently tightened to their narrowest range ever, which might indicate a significant price movement.
READ MORE:
Is XRP Set to Surge to $1? According to This Chart it is PossibleThe trader humorously remarked that XRP is trading as if it were about to launch its own exchange-traded fund (ETF).
Despite Ripple CEO Brad Garlinghouse’s assertion that an XRP ETF is inevitable, it is unlikely that financial firms will pursue such a product soon.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Web3 Watch: EigenLayer announces 86M token airdrop for Season 2
Meanwhile, Euler returns with a V2 launch of its lending protocol
Sonic blockchain reaches record 720ms finality in testnet phase
Morpho’s Mission: Making Financial Infrastructure A Public Good.
Helium: Crypto Bulls Pump HNT and Mpeppe Casino During Bitcoin’s BTC Downturn
