XRP Might Overshadow Bitcoin with Explosive Squeeze

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As a seasoned crypto investor with a decade-long journey through the digital asset market, I have learned to always keep my eyes peeled for promising opportunities. The recent surge in the XRP/BTC ratio has certainly piqued my interest. K A L E O’s (@CryptoKaleo) analysis on the XRP daily chart suggests a potential squeeze, and the token’s performance over the past 24 hours, outperforming the broader market with a 7% increase, is nothing short of impressive.

As reported by well-known cryptocurrency trader K A L E O (@CryptoKaleo), the current state of the XRP/BTC ratio suggests it’s ready for a significant increase.

As a crypto investor, I’ve noticed that the latest daily candle for this token is just starting to poke above the resistance level that dates back to the Ripple victory pump last year, as per my observations.

XRP is up as much as 7% over the past 24 hours, outperforming the broader market. 

Today, the value of XRP relative to Bitcoin (XRP/BTC) reached its peak this morning at approximately 0.0000099 BTC, marking its highest point since March. Over just a short span of about two months, this pair has experienced a significant increase of nearly 60%.

According to U.Today’s report, the Bollinger Bands surrounding XRP have narrowed more than ever before. This tightening might be a sign of an impending significant shift in its price.

An XRP ETF? 

As a researcher examining the cryptocurrency market trends, I humbly propose that XRP seems to be transacting with an anticipation reminiscent of a potential Exchange-Traded Fund (ETF) launch.

Despite Ripple CEO Brad Garlinghouse’s assertion that an XRP Exchange-Traded Fund (ETF) is unavoidable, it seems that financial institutions are not planning to introduce such a product in the immediate future.

As reported by U.Today, BlackRock recently confirmed that it was not looking to launch additional ETF products in the near future. 

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2024-07-31 08:40