XRP finally makes a comeback, breaking Ethereum's seven-year dominance
XRP has finally been able to hold its head high, breaking through the downward trend line that Ethereum has kept pushing for seven years, reversing the decline that started in 2018.
This time, XRP has finally broken through the seven-year downward trend line against Ethereum, overturning Ethereum's dominance that began in 2018.
Market analyst Dark Defender mentioned in a recent article that XRP has now outperformed Ethereum. Think about it, since January 2018, Ethereum has been leading the way, while XRP has dropped from a high of $3.31.
XRP's seven-year decline against Ethereum
The data speaks for itself; in January 2018, XRP could be exchanged for 0.00356 Ethereum, when Ethereum was priced at $3.31. As a result, XRP continued to fall, and by the following month, it had dwindled to only 0.000847 Ethereum.
Although XRP had some recovery later, it dropped again in December 2018. Since then, XRP has been following the downward trend of Ethereum, consistently underperforming, even as other altcoins have risen; it has remained stagnant.
Interestingly, starting in January 2018, XRP fell by 45.6%, while Ethereum rose by 318%. Therefore, during that period, the price of XRP against Ethereum continuously declined by 87%.
But this time XRP has finally turned the tide
The latest data shows that XRP has truly begun its comeback. Previously, XRP had attempted to break through the downward trend line but fell back again. However, this time is different; XRP not only broke through the trend line but also reclaimed the $1 mark.
Especially on November 16, XRP surged to a three-year high of $1.265. Although there was a slight pullback afterward, it has managed to establish a foothold. In terms of Ethereum, this translates to 0.000401 Ethereum, marking a 16-month high on the XRP/ETH chart.
The subsequent pullback saw XRP drop to $1.0036, but it returned to test that downward trend line, and this time it has flipped it over to become a support level. Dark Defender mentioned that this signals XRP's end of Ethereum's dominance.
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