XRP to ETH Price Relativity - We have bottomed!

This is a weekly view on XRPETH.


The golden circles show points we have touched the 0.00085 level as either resistance or support. We just touched this area as support. I firmly believe this relativity zone will hold as support.

This implies that XRP's price in relation to Ethereum has bottomed. Meaning, XRPUSD will increase in value greater as ETHUSD value increases. (i.e. we shall see higher price appreciation in XRP vs. ETH)


XRPETH has been another data point I have been using to understand how under-valued we are relative to the market.

I also plan to use this chart moving forward to help bring clarity on when may be a good time to scale out of XRP as it becomes over-valued relative to the market.

XRP and ETH have swapped the #2 and #3 market cap spots historically.



What this chart clearly displays is currently XRP is extremely undervalued relative to ETH based upon historical price points.

I fully expect we catch up to historical values between the 0.5 - 0.702 fib retracement levels shown here.

Also, I am expecting this upcoming bull cycle to exceed prior ATH XRPETH valuations and approach the 1.618 fib extension shown in blue (w/rocket ship to further drive this point home!).


I enjoy sharing factual, realistic analysis on XRP given both that it is so hated in the community and because of all the hype artists in the space.

Best of luck!

Comment:

I was proven wrong on the XrpEth bottoming.

However, there is something factual playing out on the charts & technicals leading one to believe we either have bottomed OR are very close to bottoming:

The positive divergence taking place on the RSI
-Price relativity has continued falling in the falling wedge pattern, all the while
we have been creating higher lows on the RSI.

I would strongly suggest monitoring this view in addition to whatever other XRP charts you monitor. Once we begin a clear break of the falling wedge pattern, there may be a retest of the descending wedge line, but I would strongly lean towards there being a major bullish break-out.

I personally do not solely rely on the XRPUSD chart. I use: xrpusd, xrpbtc, xrpeth, xrp.d . All come together to create a story

Comment:

This XrpEth falling wedge is nearing an end. It appears we'll either break UP and out of this wedge OR continue going sideways at the latest by the end of November.

Also, the bullish divergence on the RSI is flagrant; waiting for this to play out to the upside. IF XRP were to go a rip today, shoot up, and attempt to match ETH market value (which has historically been the case), it would place the price of XRP ~$1.00.

Comment:

3 Main things to point out:

(1) We are nearing the edge of a falling wedge pattern; massive XRP price suppression in relation to ETH

(2) We are EXTREMELY close to the double bottom zone (2 green lines; yellow circle) reached during our prior bull cycle. We do not need to hit this green zone, as we may have already bottomed, but we may, in which case the XrpEth has very limited downside

(3) I clearly show the price relativity needed to match ETH market cap. XRP historically has shown times where it rivals Eth temporarily for the #2 spot in market cap. It will likely happen again.