XRP Poised for Potential Breakout as Analyst Sees Wave 5 Move
Ripple's XRP token is gearing up for a potential breakout against Bitcoin (BTC) and Ethereum (ETH), according to popular analyst Dark Defender.
Dark Defender believes that the XRP-ETH pair has reached Wave 4 of the Elliott Wave structure, suggesting that it may be completing its correction phase.
This could pave the way for a powerful Wave 5 move, which could thrust XRP into the spotlight and potentially even surpass Bitcoin and Ethereum in market dominance.
The analyst's forecast is based on the chart of the XRP-ETH pair, where he notes that Ether (ETH) may see some near-term upside before giving way to a stronger XRP rally.
Ripple has also recently partnered with Jeonbuk Bank in South Korea, which will use Ripple Payments for cross-border transactions. This deal marks Ripple's third major partnership in South Korea this year and further strengthens its foothold in the region.