XRP Poised for Takeoff as Analyst Sees Uptrend Against Bitcoin and Ethereum

XRP has been wavering around $1 in recent days, but some analysts believe it's poised for significant growth. According to Dark Defender, a market analyst, XRP is nearing a major turning point against Bitcoin and Ethereum.

Under Elliott Wave theory, the XRP-to-Ether price ratio has completed a Wave 4 correction and is entering a Wave 5 uptrend, which could lead to a significant increase in value. Dark Defender predicts that ether will rise first, but then XRP will surpass both Bitcoin and Ethereum.

The key price levels cited were the Fibonacci 30 percent level near 0.0004141 Ether and the 38.2 percent level near 0.0005487 Ether. The XRP-ETH ratio recently traded around 0.000532 Ether, close to the 38.2 percent retracement level.

ChartNerd, another XRP analyst, took a more cautious view, stating that nothing is absolute and that XRP could remain weak against Bitcoin and Ethereum through year-end.