Hi there all. We recently discussed the XRP / ETH pair and the returning of the XRP dominance over ETH. It was dark for over 4 years since Ethereum had been protected by some people!
However, we clearly see in our everyday lives that Ripple and the XRP is gaining track although the lawsuit is still ongoing.
Weekly Heikin-Ashi Bar Charts
XRP has broken out the initial resistance (dotted orange line) and secured her current position against Ethereum. Let's check the chart.
The above technical analysis can be interpreted as XRP is going to appreciate against ETH in the upcoming weeks. XRP is already hit the 100% area where we can see pull-back technically however, it seems that she is strong against ETH now and will try the 161.8% Fibonacci level which sits as the light orange support level at 0.0004769.
What does this mean DD?
E.g. Assume that this pair hit 0.0004769. This means if ETH is $1000 then XRP will be $0.4769.
E.g.2. Assume that ETH went down to $750, XRP will protect the price level @ $0.3576
What Does the Relative Strength Index (RSI) Say?
From the pair chart, it is obvious XRP appreciated against ETH and is expected to continue. RSI is above 50% weekly which is extremely positive for XRP compared to the ETH.
XRP is expected to burry the dominance of Ethereum into the deep ground with her utility, her community, the engagement with the current financial system, low transaction fees etc. We will see the XRP Dominance against ETH, BTC and the rest. The dominance term will be also flipped by Ripple XRP. Have a wonderful weekend.