Outside Source
Ripple’s price is on the verge of making a new record high, as the asset has been rallying consistently over the past few months on both the USDT and BTC pairs.
By Edris Derakhshi (TradingRage)
The USDT Paired Chart
The XRP/USDT chart shows that the third-largest cryptocurrency has been consolidating since the beginning of December 2024.
However, over the past few days, the market has gained a significant bullish momentum, rising rapidly toward the $3 level and even breaking it to the upside. While a new all-time high is within reach now, the RSI’s overbought signal should be considered, as it could cause a short-term correction.
The BTC Paired Chart
The daily timeframe of the Bitcoin-paired chart shows a similar picture to that of the USDT-paired one. The market is now trending higher after a rather lengthy period of consolidation below the 2800 SAT level.
As things stand, Ripple is outperforming Bitcoin and could continue to do so. However, like the XRP/USDT chart, a clear RSI overbought signal hints at a potential pullback in the near future.
This article first appeared at CryptoPotato
