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Alternative investment analyst Timothy Peterson says he believes XRP is gearing up for a long-awaited breakout that could see the fourth-largest crypto asset outperform Bitcoin.
In a series of tweets, Peterson He says the Lowest Price Forward (LPF) metric suggests that the XRP is close to an inflection point.
The analyst calculates the LPF by marking the last time an asset had a price that seems highly unlikely to return and mapping its trajectory on a log scale to determine when the next breakout might occur.
“I think people will be surprised by Ripple’s performance in 2021. It will probably have its best year since 2017 and perhaps surpass Bitcoin …
Although the lower forward price is strictly a price trend, I have validated this trend with Coin Metrics’ fundamental metrics. “
As for Bitcoin, Peterson He says The major cryptocurrency is unlikely to hit $ 20,000 this year. However, he believes there is a 90% chance that BTC will reach its all-time high in 2021.
Peterson’s XRP forecast stands in stark contrast to a recent analysis by commodity trader Peter Brandt.
Brandt says he thinks XRP has proven to be one of the weakest assets on the market and it won’t be long before it continues its retracement from an all-time high of 0.000229 against Bitcoin.
At the time of publication, XRP was up 0.86% to $ 0.25. Bitcoin is up 2.96% to $ 15,477.
Disclaimer: Opinions expressed in The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and trading are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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