The past week has seen double-digit gains for popular altcoins like Cardano, Avalanche and Solana. However, XRP’s price has remained relatively stagnant, declining slightly by 4% over the same period. This divergence has left many XRP investors wondering what is holding the crypto back from appreciating along with its peers.
Prominent crypto analyst Dark Defender, who has over 100k followers on Twitter, believes there is no cause for concern over XRP’s recent underperformance. In a recent tweet, Dark Defender said “XRP moves the last. I know people ran out of patience. On the other hand, when we check the leading indicators in the monthly time frame, such as Wave Trend and RSI, they favour the XRP uptrend.”
By this, Dark Defender meant that historically XRP tends to lag other altcoins during bull runs, but ultimately plays catch up as the market cycle matures. His analysis of long-term technical indicators like the Wave Trend and Relative Strength Index on the monthly chart still point to an ongoing uptrend in XRP’s price.
Dark Defender went on to say “We looked over $0.6649 and want to inform you that XRP must break here and stay above at least 2 days. My expectation is that it will continue proceeding with the 2nd Resistance.” This was a technical analysis of a key resistance level at $0.6649 that XRP needs to break through and hold above for a couple days as validation of the next leg higher.
In concluding his outlook, Dark Defender reassured followers that “The ETFs are coming, and everything looks ready for XRP. I don’t see any reason for #XRP to have low performance. I will keep my patience and continue to update you with the changes.” This suggests positive regulatory and fundamental developments are on the horizon to spark XRP’s next bullish move higher in due course.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +For now, Dark Defender advises maintaining a patient outlook based on his analysis, as XRP’s time to catch up may simply be a matter of when, not if. His followers will be watching how price action shapes up around the key $0.6649 resistance level in the days ahead.
You may also be interested in:
- Top BTC Analyst Explains Why Another Big Bitcoin Move is Imminent, Reveals the Key Support to Look Out for
- Polkadot (DOT) to Continue Upward Rally as Critical Retest Proves Successful: Here Are the Next Price Targets
- BorroeFinance Sets Sights on Outperforming Cardano (ADA) and Polkadot (DOT)
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
