XRP Shows Relative Strength Against Ethereum Amid Market Crash

XRP, the cryptocurrency associated with Ripple, has shown relative strength against Ethereum (ETH) during the recent market crash, maintaining a stable XRP/ETH ratio despite intense selling pressure. On Monday, XRP experienced a significant drop of over 14%, mirroring the broader crypto market's decline. However, analysts have identified key indicators that suggest underlying bullish potential for XRP.

Analyst CrediBULL Crypto noted that while XRP's USD price hit lows near $1.60 before stabilizing around $1.79, its pairing against Ethereum (XRP/ETH) remained firm. This relative strength, where XRP did not weaken as much against ETH, is seen as a potentially bullish signal. CrediBULL suggested that XRP could be preparing for a strong reversal, especially if it reclaims the $2.00 to $2.20 resistance zone. A break above this area could confirm an impulsive bullish trend continuation, according to the analyst. Additionally, CrediBULL observed that Ethereum failed to capitalize on the correction to gain significant ground against XRP, further supporting the bullish outlook for XRP.

Separately, analyst Egrag Crypto highlighted that XRP's current price action mirrors historical patterns. He pointed out massive corrections in 2017 (73%) and 2021 (78%) that preceded explosive rallies of 2,700% and 1,000%, respectively. Egrag emphasized XRP’s interaction with its 200-day moving average (MA) during those cycles, noting that the price often dipped below it before surging. With XRP currently testing support near this key long-term average after its sharp drop, Egrag sees a parallel to these historical patterns.

Despite the recent crash and weak short-term indicators such as an oversold RSI (dipping near 31) and bearish MACD, Egrag pointed out a crucial factor: XRP’s 50-day MA remains above its 200-day MA. This means a bearish “death cross” hasn’t occurred, preserving the technical long-term bullish structure. Egrag suggested that the current dip presents an accumulation opportunity rather than a reason for panic, assuming this structure holds. Holding the recent $1.60 low is therefore critical for maintaining this bullish outlook.