Ethereum Strengthens: Three Critical Signals for XRP

Recently, Ethereum (ETH) has attracted the attention of investors again with its strength against Bitcoin (BTC). Although the cryptocurrency market is generally under pressure, significant analyses are emerging for Ether and XRP.

According to data shared by CoinDesk analyst Omkar Godbole, Bitcoin dropped more than 2% during the day, retreating to the $97,000 level, while Ethereum remained relatively stable at around $3,230. This situation has led to an increase of more than 2% in the ETH/BTC ratio and has drawn investors' interest due to the relative strength Ethereum has displayed against the market.

Analyses indicate that the ETH/BTC ratio has consolidated within a slightly downward-sloping channel following the rallies experienced between May and August. This structure signifies a resting phase rather than a downtrend. Additionally, the MACD histogram for the ratio is preparing to rise above zero, increasing the likelihood that Ethereum could enter a new upward trend against Bitcoin. A breakout of the channel to the upside could indicate a strong investor inclination in favor of Ethereum.

Ethereum has created a strong buyer base around the $3,000 level, while it has been observed that sellers are weakening with long-wicked candles. This situation suggests that a clear channel breakout could trigger a wider upward movement in Ethereum.

On the other hand, significant developments may also occur for XRP. Analysts point out that a strong breakout on the Ethereum side could serve as an important catalyst for the XRP/BTC ratio as well. XRP has been trapped within a wide horizontal band against Bitcoin for four years; this indicates energy accumulation before a major move. If the strengthening of Ethereum leads to a surge in the altcoin market, the long-awaited upward breakout in the XRP/BTC ratio could occur, creating new profit opportunities.