XRP Outperforms Bitcoin by 7% in 11 Days Since 'Black Friday' Crash

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5 hours ago

Since the collapse on Oct. 10 that financial markets participants are already calling "Black Friday " XRP has done what most crypto enthusiasts did not expect — the altcoin outpaced Bitcoin.


Right now, the XRP/BTC pair is at 0.00002222 BTC, not a big number by itself, but it stands out when you put it next to the chart of the leading cryptocurrency, where losses rose to almost 5% against the dollar in the same 11 days.


While BTC kept losing support levels, XRP held ground and managed to gain, and that simple relative strength tells more than most indicators.


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BTC/USD by TradingView

The monthly chart perfectly mirrors the situation, with XRP being in the upper range of its Bollinger Bands against Bitcoin, a zone that cements the bullish bias and makes the case to test the upper band more likely. 


Weekly candles confirm the strength as the flush earlier in October was absorbed quickly, and XRP came back inside the range and is now pressing toward the middle band near 0.0000243 BTC, while Bitcoin’s structure still points lower.


XRP outperforms Bitcoin against dollar, too


Finally, the performance of both XRP and BTC in dollar terms back the strength thesis. Since Crypto Black Friday, the altcoin has gained more than 3.4%, while the leading cryptocurrency lost as much as 4.6% — that is a 7% gap in less than two weeks. 



XRP and Bitcoin vs USD by TradingView

As it stands, the Bollinger Bands show XRP trading from a position of strength, holding the upper zone on the long-term chart and doing what Bitcoin failed to do since the crash — outperform.


However, taking XRP's relative strength for granted and going all in would be no less a mistake than making risky investment decisions with Bitcoin given the current market position. It may simply be that XRP is lagging behind its main counterpart and the downturn is just delayed.


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