Ripple Seeks Gold Standard as XRP's Relative Value Rises
The recent recovery in XRP's price has brought attention to its long-term technical setups. One of the more unusual comparisons is between XRP and gold, with some analysts suggesting that the cryptocurrency may be approaching a stage where it gains ground relative to the precious metal.
EGRAG CRYPTO has been tracking this comparison, arguing that the pair could be reaching an important point on their long-term chart. The analyst notes that the idea is not that XRP is backed by gold or directly linked to it, but rather that their relative performance may be reaching a turning point.
Historically, the XRP/gold ratio has been used to identify periods where the cryptocurrency accelerated against the bullion. If this pattern repeats, it could mean that XRP eventually begins appreciating faster than gold, representing a significant shift in their relative performance.
The precious metal has enjoyed a strong period with investors seeking protection from fiscal concerns and currency debasement. However, EGRAG remains bullish on XRP's prospects, predicting that the token will explode higher while gold falls.