XRP on Track to Outperform Bitcoin and Ethereum with 306% Surge
Crypto analyst Dark Defender believes that XRP could outperform both Bitcoin and Ethereum in the long term. According to his technical analysis, the XRP/ETH ratio must first reclaim a specific zone before a potential fifth-wave target is reached.
Dark Defender's chart indicates that if the XRP/ETH ratio reaches 0.002238, it would represent approximately 306% relative upside from its current level of around 0.000551.
This projection does not imply that XRP will surpass Ethereum in terms of market capitalization, which currently stands at around $300 billion compared to XRP's $86 billion. However, a significant increase in the XRP/ETH ratio could indicate relative strength and potential long-term growth for XRP.
The technical structure identified by Dark Defender is based on Elliott Wave analysis, which suggests that a fourth-wave correction is currently underway in the XRP/ETH ratio. The fifth-wave target of 0.002238 represents an extension of this wave, rather than a confirmed market outcome.