Crypto traders are used to seeing a price surge in non-serious cryptocurrencies such as dogecoin (DOGE) as a sign of market froth. Now it looks as though XRP, the payments-focused cryptocurrency, can also be used as an indicator for bull-market peaks in bitcoin (BTC).
Unlike meme tokens like DOGE and shiba inu (SHIB), XRP has utility. It is used by Ripple to facilitate cross-border transactions, which places it in a bucket different from the memecoins.
Even so, since 2017, XRP has been a contrary indicator for bitcoin bulls, tending to rally— often soaring several hundred percent in a short time — in the final stages of BTC bull runs, marking the point at which bitcoin ultimately peaked.
XRP experienced a remarkable 10-fold rally from December 2017 to early 2018, coinciding with bitcoin’s peak at around $20,000, before entering a bear market that lasted almost a year.
A similar near-vertical spike in XRP occurred in early 2021, marking the peak of another bull market in bitcoin. And XRP’s surge of approximately 240% in late 2024 foreshadowed bitcoin’s bull market peak above $109,000, followed by a decline below $80,000.
As the saying goes: “Once is happenstance, twice is a coincidence, and three times is a trend.”
The next time BTC is running hot, savvy traders may want to keep an eye on XRP for potential signals regarding the end of the bull run.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin price failed to extend its recovery wave above the $70,500 zone. BTC is now…
Bitcoin Magazine Coinbase CPO Rejects Claims of Opposing Bitcoin Tax Relief as Jack Dorsey Demands…
The security architecture surrounding Bitcoin continues to evolve as new infrastructure emerges to support self-custody…
Bitcoin is up about 7% from the Sunday lows, even as equities and gold tread…
Bitcoin Magazine Cosmos Health (COSM) Buys $600K in Bitcoin, Expands Digital Asset Treasury Cosmos Health…
Bitcoin Magazine Bitcoin is Now a Global Financial Player as Institutions Take the Helm: Bitwise…