Ripple and Ethereum have formed divergent graphics patterns, raising the hope that the first will become the second largest cryptocurrency this year.
Ethereum (ETH) exchanged $ 1,837 in the last check on Saturday, while Ripple (XRP) was blocked at $ 2.20. However, the two prices were much higher than their respective hollows of the year.
The two have a market capitalization of $ 220 billion and $ 150 billion, respectively.
The graphic models show that the XRP price could soon become parabolic, while Ethereum can crash up to $ 1,000.
Technical analysis of the Ethereum price
The daily graphic shows that Ethereum Price has formed a high -top double model at $ 4,086, with a low drop at $ 2,140, the lowest level on August 5 of last year. A double-syst often leads to a strong and lower break.
The price objective of this model is estimated by measuring the distance between the double-top with the neck. In this case, the distance is around 47%. The measurement of this distance from the neck brings the target price to $ 952.
The case for a lower break is reinforced because it has had trouble crossing the resistance at $ 2,000 and formed an upright corner, which is composed of two lines of ascending and convergent trend.
Ethereum’s market capitalization will be around $ 120 billion if it falls into the psychological point of $ 1,000.
The XRP price has bull models
The XRP token has also formed two models of graphics which can lead to a strong upward escape over time. He formed a giant optimistic pennant pattern on the daily graphic. This pattern has a vertical line and a symmetrical triangle pattern. An increased break normally occurs when these two lines are about to converge.
XRP also formed a falling corner diagram and remained above the mobile average at 100 days. These panels indicate a possible rebound, the next goal being the summit of the year at an appointment of $ 3.4. Such a decision will push its market capitalization to nearly $ 200 billion.
Basically, XRP has more catalysts than Ethereum. The SEC is likely to approve an ETF XRP spot later this year, while the Stablecoin Ripple USD (RUSD) gains in market share as its market capitalization has increased to more than $ 293 million.
Therefore, if the ETH and XRP models work, it is likely that XRP becomes the second largest cryptocurrency by the end of the year.
