Analysts report that XRP may be gearing up for significant growth compared to Ethereum. XRP's prolonged consolidation and ETH's slowdown create favorable conditions for Ripple.
XRP's Long Consolidation Versus ETH's Slowing Momentum
Market strategist CrediBULL Crypto noted that XRP's price behavior in the market is a story of patience. For the past nine months, the asset has been in a sideways movement after earlier significant rallies. This prolonged consolidation mirrors historical patterns seen in both Bitcoin and XRP before major price expansions.
At the same time, CrediBULL revealed that the XRP/ETH trading pair has retreated to a key support zone following a 700% pump earlier this year and a subsequent three-month correction. This level often acts as a springboard for renewed momentum. Meanwhile, Ethereum is approaching its all-time high after completing a clear five-wave upward pattern, which may indicate that its recent growth could slow down.
Price Action Signals and Risks
At the time of writing, XRP was trading at $3.01, up 0.1% in 24 hours but down 4.6% over the past week. Data from CoinGecko shows it oscillated between $2.95 and $3.10 in the past day, with broader weekly movements ranging from $2.96 to $3.34. Despite the pullback, XRP is demonstrating resilience in the current cycle, remaining up over 430% year-on-year.
Previously, analyst Ali Martinez pointed to $2.80 as a critical level for XRP, where over 1.7 million tokens were accumulated by large investors. XRP tested this support earlier in the month and rebounded towards the $3.30 resistance.
Market Prospects for XRP
Observers believe that decisively breaking past $3.26 could open the door for XRP to challenge its recent all-time high near $3.65. However, the latest assessment from CryptoPotato warned that if $2.80 fails, the asset could retreat to $2.10. Meanwhile, on the BTC pair, XRP has broken out of a multi-month downtrend, signaling relative strength compared to Bitcoin.
The analysis indicates that XRP may be on the brink of a new growth phase, especially in light of Ethereum's slowdown. Ripple's future depends on its ability to hold key support levels and overcome significant price marks.
