CandleFocus XRP is a Better Play Than ETH This Cycle: Ichimoku Cloud Analyst
2024-11-15
Author: Content Editor
Ichimoku Cloud analyst Dr. Pastet suggests that XRP may outperform Ethereum (ETH) during the current crypto bull cycle. His analysis of the XRP/ETH, XRP/BTC, and ETH/BTC pairings using the Ichimoku Cloud indicates stronger prospects for XRP compared to Ethereum. He notes that XRP is trading within a range and estimates a potential upside of around 25% from current levels. If XRP begins oscillating more dynamically, he projects a test of the $0.93 highs from July 2023, potentially doubling XRP's current value. In contrast, ETH/BTC shows weakness, with Ethereum's Kijun trending downward. Dr. Pastet expresses skepticism about Ethereum's ability to stage a sustainable rally. XRP/BTC, however, looks more favorable with a flat Kijun level and stability implied by Senkou Span B. Dr. Pastet also discusses market sentiments, noting the widespread optimism around ETH and the skepticism surrounding XRP. The recent performance has seen XRP outperforming Ethereum, gaining 43% against it since November 12, reaching a three-month peak.
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