A well-known cryptocurrency analyst has recently predicted that XRP's price will soon outshine Bitcoin's based on an important technical indicator. The analyst, Cryptoinsightuk, shared on the social media platform X that the BTC/XRP pair is in a reversal zone when viewed on a monthly chart.

What’s Ahead for XRP?

The analyst highlighted that the monthly Relative Strength Index (RSI) for the XRP/BTC pair is at its lowest point ever. Historically, such a significant drop has led to XRP increasing by 5,251% and 498% against Bitcoin in two previous instances. For the latest financial and business updates, visit COINTURK FINANCE.

The analyst also mentioned several potential positive triggers for XRP, noting that market sentiment can shift rapidly when the narrative changes. It's important to note that XRP's performance has lagged behind Bitcoin, with a 15% drop year-to-date and a modest 0.8% increase over the past year.

In contrast, Bitcoin's price has surged by 61.5% this year and over 150% in the past 12 months. This growth has been partly driven by the introduction of spot Bitcoin exchange-traded funds (ETFs) in the US, which has allowed institutional investors to invest in the cryptocurrency.

Bitcoin and the ETF Market

Notably, BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken Grayscale Bitcoin Trust (GBTC) in terms of Bitcoin holdings, becoming the largest exchange-traded fund that allows investors to buy into Bitcoin. Analysts point out that this change is due to Grayscale’s high fees, prompting investors to opt for BlackRock’s cheaper alternative after GBTC was converted to a spot Bitcoin ETF, and many such ETFs started trading in the United States.

Moreover, BlackRock’s funds focused on income and bonds have recently added exposure to their spot Bitcoin ETF. Regulatory filings show that BlackRock’s Strategic Income Opportunities Fund and Strategic Global Bond Fund have bought shares of the iShares Bitcoin Trust.

In conclusion, while XRP has underperformed Bitcoin recently, significant technical indicators and potential market catalysts suggest that XRP may soon experience substantial gains against Bitcoin, as per the insights of prominent analysts.