According to analyst ChartNerd, XRP may need to return to a historical demand zone against Bitcoin before starting a new period of outperformance. The main catch-up rallies observed in 2014, 2020 and 2024 followed the XRP/BTC ratio returning to that zone. The ratio continues to make lower highs and has been rejected several times since 2020, suggesting a risk of further weakness before XRP’s next significant rally. At the time of writing, XRP traded at around $1.25 after falling nearly 16% over one month and 50% over one year, while spot XRP ETFs attracted close to $19 million in October.
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