The post XRP Winning the Race, Leaving 2nd Largest Cryptocurrency Ethereum Behind Amid Ongoing Legal Battle With SEC appeared first on Coinpedia Fintech News
In a recent tweet, Cryptoes, a well-known crypto analyst, has drawn attention to a surprising development in the crypto space. Despite its ongoing legal challenges, XRP has emerged as the outperformer when compared to Ethereum in the year 2023.
XRP Surpassed Ethereum
Recently Cryptoes, a prominent crypto analyst, has performed a technical analysis, pointing out that XRP has outpaced Ethereum in performance throughout 2023.
Cryptoes doesn’t shy away from acknowledging the tumultuous journey XRP has experienced in recent years. Despite the challenges XRP has faced, the analyst highlights its resilience. The tweet suggests that XRP has not only weathered the storm but has managed to outshine one of the giants in the cryptocurrency market, Ethereum.
Given how #XRP has performed over the past few years this is not something to brag about but wanted to bring it to your attention regardless…$XRP has been outperforming $ETH in 2023We still have long ways to go to catch up to its market cap but hopefully we are at the verge… pic.twitter.com/jUR7YRlFPp
— Cryptoes (@cryptoes_ta) December 6, 2023
While this news may come as a surprise to many, Cryptoes tempers the excitement by acknowledging that there is still a considerable gap to close in terms of market capitalization between XRP and Ethereum.
Perhaps XRP has shown a remarkable surge of over 116%, reaching $0.647, outshining Ethereum’s 91.9% increase. Hinting at the possibility of a fresh, new, and long-term uptrend for XRP.
XRP Community Response
In response to Cryptoes’ post, a user on the X platform suggested that the price movement of XRP might be shaping a Cup and Handle pattern, a traditionally bullish formation, which Cryptoes acknowledged and validated. Meanwhile, this pattern involves a rounded bottom (the “cup”), followed by a consolidation phase and a smaller upward movement (the “handle”).
Another user’s reply to Cryptoes’ post states, “And people don’t know or remember that XRP flipped ETH’s market cap before. And has regulatory clarity.”
Certainly, a favorable court decision in the Ripple vs. SEC courtroom battle, coupled with clear regulatory clarity, will likely propel its price to the range of $1 to $3.
Despite its legal hurdles, XRP seems to be making a statement in the competitive crypto arena, and the market is abuzz with speculation about what the future holds for this resilient digital asset
