XRP Completes Wave 2, Poised to Rally 5x More Than Ethereum in Third Wave

According to a recent analysis by top crypto market watcher Dark Defender, XRP sets sail to outperform Ethereum (ETH) by five times.

Dark Defender’s latest analysis leverages the Elliott Wave Theory and considers XRP’s price movements against Ethereum on the monthly timeframe. The analysis is a follow-up to his earlier posts on the current situation of the XRP/ETH market.

Previous Analyses

His first analysis in this series was in mid-July after XRP rallied to the $0.93 high on the back of the lawsuit victory. Dark Defender  confirmed  that this XRP price spike allowed the asset to break above a long-standing five-year resistance on the XRP/ETH chart.

The analyst emphasized that XRP had begun flipping Ethereum as he drew five Elliott Waves on the weekly chart. XRP had already completed the first two waves and was on track to complete the third wave, which would see it outperform ETH by a large margin.

However, Dark Defender’s  second analysis , which came up in August, projected a drop for XRP to see the asset back-test the resistance point it broke in July. XRP underperformed in August, correcting the gains of July 13. Amid this bearish trend, the asset dropped  against ETH .

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