According to a famous investor, Ripple (XRP) may surpass Bitcoin. This process comes to light in the XRP/BTC parity. There has been continued inflow into the Bitcoin ETF space lately.
What to Expect on the XRP Front?
A popular cryptocurrency analyst recently announced that he believes the price of XRP will soon significantly outperform Bitcoin based on a key technical indicator. Popular analyst Cryptoinsightuk shared on social media that the XRP/BTC pair's monthly Relative Strength Index (RSI) is currently at its lowest level ever. In the last two instances when the RSI fell this low, XRP surged by 5,251% and 498% against Bitcoin.
The analyst sees many potential positive catalysts for XRP and notes that market sentiments can change quickly. It is worth noting that XRP has underperformed Bitcoin, falling approximately 15% since the beginning of the year and rising only 0.8% in the last 12 months.
ETF Area and Bitcoin
Meanwhile, Bitcoin's price is up 61.5% so far this year and over 150% in the last 12 months. This surge was partly facilitated by the launch of spot Bitcoin exchange-traded funds (ETFs) in the US, providing institutional investors with cryptocurrency exposure.
BlackRock's iShares Bitcoin Trust (IBIT) has surpassed Grayscale Bitcoin Trust (GBTC) in Bitcoin holdings, becoming the world's largest ETF offering Bitcoin exposure. Analysts attribute this shift to Grayscale's high fees, which led investors to BlackRock's lower-cost alternative. BlackRock's income and bond-focused funds have also added exposure to its spot Bitcoin ETF fund, with regulatory filings showing that BlackRock's Strategic Income Opportunities Fund and Strategic Global Bond Fund purchased shares of the iShares Bitcoin Trust.
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