A popular crypto analyst and trader is identifying the key level that XRP must hit to initiate its long-awaited bull rally.
The pseudonymous strategist who goes by the name Pentoshi says that while XRP is a laggard in comparison to its large-cap peers such as Bitcoin (BTC) and Ethereum (ETH), it could play catch-up in the coming weeks.
“XRP It’s bull run starts above .30-.33c 17′ resistance. 18′ support. Rounding off on the weekly. Just not quite there yet though. Maybe in a week or two it can close above BTC allowing. But for now it’s lagging.”
According to Pentoshi’s chart, XRP is forming a bullish reversal pattern that can end its nearly three-year-long bear market.
In addition, XRP has tagged resistance between $0.30 and $0.33 multiple times already, which makes it likely for the fourth-largest cryptocurrency to successfully breach the area on the next attempt, according to Pentoshi.
“Honestly looks close though. I doubt that area acts as resistance if hit again.”
XRP has been a relative underperformer for most of 2020. At time of writing, Ethereum is up over 210% year-to-date as it trades at $405, according to CoinMarketCap.
As for Bitcoin, the world’s largest cryptocurrency has gained more than 90% over the same stretch. Meanwhile, XRP has managed to climb around 30% from $0.19 at the start of 2020 to its value of $0.25 today.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/andrey_l
Bitcoin 
Ethereum 
XRP 
Tether 
BNB 
Solana 
USDC 
Lido Staked Ether 
Dogecoin 
TRON 
Cardano 
Wrapped stETH 
Chainlink 
Wrapped Beacon ETH 
Hyperliquid 
Wrapped Bitcoin 
Ethena USDe 
Sui 
Stellar 
Avalanche 
Figure Heloc 
Wrapped eETH 
Bitcoin Cash 
WETH 
Hedera 
LEO Token 
Cronos 
Litecoin 
Toncoin 
USDS 
Shiba Inu 
Binance Bridged USDT (BNB Smart Chain) 
Coinbase Wrapped BTC 
Polkadot 
WhiteBIT Coin 
Uniswap 
Ethena Staked USDe 
World Liberty Financial 
Ethena 
Mantle 
Monero 
Aave 
Bitget Token 
Dai 
Pepe 
OKB 
Bittensor 
NEAR Protocol 
Jito Staked SOL 
Worldcoin