XRP Shows Rare Strength Against Ethereum
- XRP is showing a rare relative strength signal against Ethereum, flipping the two-week Ichimoku cloud to support for the first time since 2021.
- The XRP/ETH pair is pressing into the top side of this cloud, with the latest candle marked around a value of approximately 0.00062.
- In USD terms, XRP remains in a defined range and needs to close above $2.30 to continue its upward trajectory toward targets of $2.59 and $2.95 on the daily chart.
- If XRP can convert $3.09 into support, it may reach as high as $9 according to longer-term projections based on historical extension levels.
- At press time, XRP was trading at approximately $1.9799, highlighting its current position within the established range.
Analyst Matt Hughes suggests that XRP’s recent performance against Ethereum could indicate a significant regime change if it holds above key technical levels like the Ichimoku cloud and specific price points in USD terms.
The potential for XRP to outperform lies in its ability to break through current resistance levels, especially if it can maintain momentum above $2.30 and eventually convert higher levels like $3.09 into support for further gains up to $9.(Source)
