XRP breaks 6-year downtrend vs ETH, signaling potential bullish reversal on monthly chart.
Elliott Wave and Ichimoku Cloud hint at upcoming bullish momentum for XRP over Ethereum.
Recent price action shows steady XRP gains, potentially outpacing ETH in near future.
Dark Defender, a crypto analyst, recently highlighted a significant development in the crypto market on his X account. He noted the potential for XRP to outperform Ethereum (ETH) after six years.
We have waited for this moment for 6 years.#XRP will Flip #ETH
XRP/ETH in the monthly time frame.
XRP is Free! pic.twitter.com/IbhlrhMpYZ
— Dark Defender (@DefendDark) September 13, 2024
Breaking a Long-Term Downtrend: The XRP/ETH Monthly Chart
The monthly trading chart for the XRP/Ethereum (XRP/ETH) pair displays a technical formation. Since 2018, XRP has been continuously declining against Ethereum, indicated by a descending orange trendline on the chart. This trendline has acted as a steady resistance level, pushing the trading pair lower over the years.
Recently, XRP broke above this bear market line, an event often seen by analysts as a bullish signal. This breakout, marked by a green circle…
The post XRP Surges Past Long-Term Resistance: Could It Finally Outshine Ethereum? appeared first on Coin Edition.
