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Ripple (XRP) is the second largest currency by market capitalization now. It happened earlier but was considered temporary. However, this time, Ripple (XRP) and Ethereum (ETH) have a market difference of almost $ 3 billion. Normally, this does not seem much in the cryptography markets, but we have a market capitalization of over $ 100 billion. If the circumstances were different, we might have waited for Ripple (XRP) to hold onto this position for a long time, but it seems to have run its course against Ethereum (ETH) and Bitcoin (BTC). The weekly chart for XRP / ETH shows that Ripple (XRP) is only a heartbeat from the previous ATH test against Ethereum (ETH). We can already see a red candle forming after XRP / ETH has been rejected with strong resistance.
The Ripple demonstration (XRP) against Ethereum (ETH) has lost its momentum and, as the RSI suggests, it is likely that there will be a great retracement in the near future. As the XRP / ETH falls below 10 weeks, we should see a rapid drop in price, just like we did last time. This could mean that Ripple (XRP) may lag behind while the rest of the market will recover in the coming months. That said, Ripple investors (XRP) are one of the most enthusiastic and loyal supporters we've seen in this market. So, it would not be surprising to see Ripple (XRP) reach the rest of the market after the short-term correction. There is a lot of interest around this project and it is the reason why the price has reorganized aggressively against Bitcoin (BTC) and Ethereum (ETH) in the first place.
Investors of Ripple (XRP) who bought after August gained while most investors in other cryptocurrencies lost. Considering that most investors in Ripple (XRP) are mainly retail hodlers, it should not be surprising to see that this effect translates into a growing interest in the project in the future. This is not the first time that Ripple (XRP) has made independent moves. This time, Ripple (XRP) investors are more confident than ever before even during a market crash, Ripple (XRP) may be able to achieve better results. Therefore, it would not be unlikely to see Ripple (XRP) rising while the rest of the market falls in the event of a market crash, even if it is short-lived.
Ripple (XRP) is necessary for a correction not only against Ethereum (ETH) but also against Bitcoin (BTC). Considering that XRP / BTC has reached the highest level of the downtrend channel in the weekly time period, it is likely that we will see a strong return in the near future. It is expected that this withdrawal is even more devastating than in the case of Ethereum (ETH) and Ripple (XRP) which will have to correct all the way against Bitcoin (BTC) until it reaches the bottom of the downward channel. Ripple (XRP) has moved against the short-term market but does not seem to have lost anything in the long run. Ripple (XRP) has just completed its mini altcoin rally that most other coins are expected to complete in the coming months.
