2024

<p>The cryptocurrency market has been in a state of decline throughout the past few months. The total capitalization hovers slightly above $2 trillion, but one analyst has come up with an interesting comparison, claiming that XRP might be able to outperform BTC.</p>
<p>Before we take a look at it, though, let’s put in a bit of context.</p>
<h2 id="btc-vs-xrp-prices-in-2024">BTC vs. XRP Prices in 2024</h2>
<p>So far, in 2024, BTC has had a relatively good time. It opened the year trading at around $42K and has increased to $55K, where it’s currently at. This represents an increase of around 30%.</p>
<figure id="attachment_358811" aria-describedby="caption-attachment-358811" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-10.53.45.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-358811" src="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-10.53.45.png" alt="btc_price_chart_0909241" width="1678" height="896" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-10.53.45.png 1678w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-10.53.45-300x160.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-10.53.45-1024x547.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-10.53.45-768x410.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-10.53.45-1536x820.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-10.53.45-50x27.png 50w" sizes="(max-width: 1678px) 100vw, 1678px"></a>
 <figcaption id="caption-attachment-358811" class="wp-caption-text">
  Source: CoinMarketCap
 </figcaption>
</figure>
<p>It’s worth noting, of course, that, during this period, the leading cryptocurrency also reached a high above $70K and is currently in a correction. Its price action in 2024 has been rather tumultuous.</p>
<p>Ripple’s XRP, on the other hand, opened the year at around $0.61. At the time of this writing, it’s trading at $0.53, representing a decrease of 13%.</p>
<figure id="attachment_358814" aria-describedby="caption-attachment-358814" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-11.06.28.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-358814" src="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-11.06.28.png" alt="xrp_price_chart_0909241" width="1680" height="916" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-11.06.28.png 1680w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-11.06.28-300x164.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-11.06.28-1024x558.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-11.06.28-768x419.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-11.06.28-1536x837.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-09-at-11.06.28-50x27.png 50w" sizes="(max-width: 1680px) 100vw, 1680px"></a>
 <figcaption id="caption-attachment-358814" class="wp-caption-text">
  Source: CoinMarketCap
 </figcaption>
</figure>
<p>XRP hasn’t been as convincing in 2024, but one well-known analyst believes that this might be about to change.</p>
<h2 id="xrp-to-squeeze-against-btc">XRP to Squeeze Against BTC</h2>
<p>According to Crypto Michael, a well-known trader on X, the XRP/BTC chart looks as if there’s a squeeze incoming.</p>
<p>A ‘squeeze’ is a term used to describe a situation where the price has been trading within a very narrow range for a prolonged period of time and is about to break out of this range.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">XRP/BTC looks ready for a huge squeeze <a href="https://t.co/O0lzuHbTCZ" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/O0lzuHbTCZ</a></p>
 <p>— Crypto Michael (@MichaelXBT) <a href="https://twitter.com/MichaelXBT/status/1832752536291311750?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">September 8, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>But which way will XRP’s price go? Well, <a href="https://x.com/MichaelXBT/status/1832397662114787447" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">according</a> to the analyst, if the cryptocurrency manages to reach $0.55, it will be heading north.</p>
<p>Fundamental catalysts might also be in play for XRP. For instance, the company just <a href="https://cryptopotato.com/important-ripple-xrp-update-for-2024/" data-wpel-link="internal" rel="noopener noreferrer nofollow">announced</a> that their stablecoin will likely launch this year. If it meets widespread adoption, this might also have an impact.</p>
<p>The post <a href="https://cryptopotato.com/ripple-xrp-to-outperform-bitcoins-price-under-this-condition-analyst/" rel="noopener noreferrer nofollow">Ripple (XRP) to Outperform Bitcoin’s Price Under This Condition: Analyst</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple (XRP) to Outperform Bitcoin’s Price Under This Condition: Analyst

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