- Ripple’s XRP has been underperforming against Bitcoin, despite hitting a key demand zone.
- Analyst Peter Brandt downplays the possibility of a strong bullish reversal for XRP.
- Brandt suggests that XRP may be “headed to zero” in comparison to BTC.
Explore the performance of Ripple’s XRP against Bitcoin and the predictions of renowned analyst Peter Brandt in this detailed crypto news article.
XRP Underperforms Against BTC
Ripple’s XRP has been lagging behind Bitcoin for some time now. Despite hitting a key demand zone, the altcoin has failed to make a significant bullish reversal. This has led to some market participants questioning the future performance of XRP.
Analyst Downplays Bullish Reversal
Peter Brandt, a well-known price chart analyst, has downplayed the optimism of XRP bulls. Brandt bases his analysis on the XRP/BTC chart, suggesting that XRP is “headed to zero” in comparison to BTC. This indicates that XRP is massively underperforming against BTC and raises questions about its future potential.
Is XRP Headed to ‘Zero’?
Brandt’s analysis of the XRP/BTC chart suggests that XRP is underperforming against BTC. If the value is negative or declining, it means XRP is underperforming BTC. A positive value or rising XRP/BTC, on the other hand, would indicate that XRP is outperforming BTC. Based on this, Brandt suggests that XRP holders may be better off replacing their holdings with BTC.
Future Outlook for XRP
Despite the current underperformance, some market participants remain optimistic about XRP’s future. The altcoin has eased into a key demand zone that has proven steady since mid-2023. A move above the blue 50-EMA (Exponential Moving Average) could embolden bulls to aim at the trendline resistance. Furthermore, Santiment data shows a negative Exchange Flow Balance for XRP, indicating an accumulation trend. This could suggest a potential bullish reversal in the future, provided the SEC lawsuit and long-term market conditions become favorable.
Conclusion
While XRP has been underperforming against BTC, it has hit a key demand level, making it ripe for a potential bullish reversal. However, the burden of proof remains on XRP. The future performance of the altcoin will largely depend on the outcome of the SEC lawsuit and the overall market conditions.
