Rekt Capital: XRP outperforms BTC and ETH

On Tuesday, March 12, the token XRP $0.47 XRP -0.69% Market capitalization $26.34 billion VOL. 24 hours $33.34 million experienced a sharp jump in value of more than 20%. In terms of its performance, the cryptocurrency outperformed Bitcoin BTC $61,601.67 Bitcoin 0.80% Market capitalization $1.21 trillion VOL. 24 hours $0.72 billion and Ethereum ETH $3,390.56 Ethereum -0.27% Market capitalization $407.5 billion VOL. 24 hours $0.33 billion .

XRP’s jump was the highest price point since its all-time high, which was recorded last November. Crypto experts have suggested that the sharp rise in XRP’s value indicates that traders have turned their attention to cryptocurrencies that have not yet participated in the market rally.

Meanwhile, an analyst known as Rekt Capital spoke about XRP’s potential market movement:«Could XRP finally break out of its macro structure (blue dashed trend lines)? Asuccessful breakout would see XRP return to the black diagonal resistance closer to $ 1.»

The crypto expert suggests that if XRP were to break through these trend lines, the token would approach a higher resistance level marked by the black diagonal line on the chart. In turn, this could potentially lead to the cryptocurrency’s price approaching $ 1.

As of March 12, XRP was trading at $ 0.7 with a market capitalization of $ 38.7 billion, according to analytical tracker CoinMarketCap, a 13.8% daily increase. Traders made $ 7.4 billion worth of daily trading deals with the coin.