XRP has continued to build solid momentum the last 30 days. If we take a look at the chart setup, XRP appears to be entering a strong bullish phase. If we compare XRP to other cryptocurrencies the last 30 days, we will see that XRP has been one of the only cryptocurrencies trading positive.
Last 30 day performance
- XRP: +2.94%
- Bitcoin: -18%
- Ethereum: -19%
- NEO: -20%
- Monero: -22%
- Zcash: -24%
- Litecoin: -26%
From the data above, some of the largest cryptocurrencies have struggled tremendously the last 30 days. XRP on the other hand, has been quietly acquiring market share.
XRP Price: 100 Day Moving Average
As discussed in recent reports, we were continuing to follow the XRP 100 day moving average. Based on long-term historical price action, we argued XRP was entering a bull mode if it could accept and trade above that resistance level. Aside from the 100 day moving average, other momentum indicators were flashing green as well. Most recently XRP price jumped over the 100 day moving average and started to form a consolidation format. This was positive for XRP price, because it made the bull theory even stronger. As mentioned, based on historical price action, XRP could now be entering 40-50% upside. Due to regulatory status, we are continuing to see negative sentiment in Bitcoin, which appears to be favoring XRP.
XRP vs Bitcoin Continued
We have continued to follow the XRP/BTC price action. XRP has now been gaining on Bitcoin price for 42+ days. This has been significant in the long-term. If we take a look at the long-term chart, this has resulted in large gains for XRP price. Check out the chart below where we outline almost all scenarios where XRP has been gaining on Bitcoin for 42+ days. This strengthens our argument for a large bull rally brewing for XRP.