Why XRP Might be the Next Mover Among Altcoins

A market analyst has noted that XRP has lagged while other altcoins have recorded considerable rallies, suggesting it may be the next mover.

Sjuul Follings, the founder of AltCryptoGems, pointed out that XRP has struggled to break a crucial resistance mark as it fails to match the broader market strength.

For context, while the crypto market has gained more than 14% since the rebound campaign began in April, XRP has lagged with an 8% gain within this period.

Key Points

• XRP has lagged behind the overall crypto market rebound, recording an 8% increase since April.
• Among the top 10 crypto assets, XRP has witnessed the least gains.
• Follings says XRP has failed to break through the crucial resistance area around $1.50 despite the broader market strength.
• According to him, the price is now pushing against the resistance, suggesting it’s time to pay attention.
• If XRP breaches this level, Follings believes it could become the next big mover.

XRP Gains 8% But Lags the Broader Market

Sjuul Follings spotlighted XRP’s current position as the crypto market attempts to recover the losses of this year. Specifically, after collapsing to $2.22 trillion by March, the broader crypto market staged a recovery effort in April, which has spilled into this month.

The market has added $460 million in valuation, pushing its cap to $2.68 trillion at press time, having gained by more than 14% since March. Specifically, the crypto market saw an 8.53% increase in April and currently records a 6.18% gain this month of May.

While all the other top 10 assets have posted double-digit gains within this period, especially Bitcoin (+18.28%), Ethereum (+10.13%), BNB (+11.03%), Solana (+15.3%), and TRON (+11.5%), XRP has only increased 8.2% and has failed to breach the pivotal resistance area around $1.50.

XRP Faces Resistance at $1.50

Data from the chart shared by Follings indicate that XRP currently trades within a parallel horizontal channel on the 12-hour timeframe that has continued to act as a roadblock to further upside.

XRP breached this resistance area during the rally in mid-March but collapsed below it again after reaching $1.60. When the price pushed to this area on April 17, XRP failed to breach it, facing a roadblock at $1.51 and then pulling back.

Today, as the price oscillates around $1.46, XRP trades within this channel once again, looking to break above the resistance area at the upper trendline, which aligns with $1.50. “Price is pushing against it, so it’s probably time to pay attention here,” Follings said, speaking on XRP’s recent price action.

For XRP to successfully overcome this resistance area, it must secure a candle close above the channel’s upper trendline at $1.50. Follings’ chart projects a possible pullback to retest the trendline breakout before an eventual rally toward the $1.60 price area. According to him, XRP might be the next mover among altcoins.