XRP Echoes 2017 Bullish Trend Against Bitcoin, According to Godbole

XRP/BTC Ratio Approaching Key Resistance, Signals Potential for Strong Bullish Momentum

The XRP/BTC ratio is nearing a critical level, suggesting a potential breakout that could mirror past bullish trends. As the crypto market grapples with global uncertainties, including the possibility of a renewed trade war between the U.S. and major trading partners, XRP shows signs of resilience.

The current chart for the XRP/BTC ratio indicates that it is on the verge of surpassing the upper Bollinger band, a move not seen since 2017. Bollinger bands, which are based on a 20-period moving average, are a widely used tool for assessing market volatility. A breakout above the upper band typically signals strong upward momentum, often followed by a period of sustained price movement.

Historically, such breakouts have been significant. For example, in April 2017, when the XRP/BTC ratio broke through the upper Bollinger band, XRP saw a remarkable 200% increase. This marked the conclusion of a period of low volatility and sparked a major bull run for XRP.

As traders track this potential breakout, many are wondering if history will repeat itself. If the pattern holds, XRP could be poised for another significant rally against Bitcoin, despite the broader market’s volatility.