Pakinomist – Popular cryptocurrency continues to take center stage in the market, primarily due to the wild price action it has shown in recent weeks. The latest episode was the bullish divergence on the Relative Strength Indicator, which appeared on an hourly chart of XRP against the leading cryptocurrency (BTC).
In market terms, such a signal is often interpreted as a precursor to an upward movement or the strengthening of an ongoing trend. The deviation is consistent with what XRP has already demonstrated: a strong performance that outperforms much of the market, including Bitcoin.
XRP has been on a roll lately. Since November, it is up almost 500%, which is quite impressive compared to most other assets. In fact, when paired with BTC, XRP is up 260% over the same period. Right now it is valued at around 0.00031 BTC per XRP, showing steady progress for this altcoin.
The trend doesn’t just stop with Bitcoin. XRP has also been strong against the US dollar and stablecoins. In fact, XRP has risen by more than 10% in just one day, bouncing back from a slight decline in the previous session. The small dip was short-lived as buyers quickly stepped in, pushing the cryptocurrency back to levels near its all-time high against the USD.
Still, history provides perspective. The peak of XRP’s value against Bitcoin remains untouched since May 2017. This milestone sits around 700% higher than current levels, a reminder of both the magnitude of the past and the potential for the future.
The situation is anything but ordinary. XRP’s ability to bounce back and continue to grow shows a market that has confidence in its trajectory. Traders see the bullish signals as part of a larger story – a cryptocurrency finding strength where others are stumbling.
