The race to the top of the cryptocurrency mountain is one dominated by Bitcoin. However, there is huge competition among other altcoins to follow suit. Since Ethereum overtook XRP on the crypto-charts, the XRP community has been salivating patiently for the token to surge again and according to recent reports, there have been new signs that indicate the same.

The Crypto Dog, a crypto-analyst and trader, recently claimed that the altcoin was primed to move massively, after conducting an analysis. He suggested that the token might hit another low before rocketing off to the moon, in terms of valuation.

Source: TradingView

On the charts, there was an evident squeeze taking place, indicating that XRP was primed to exhibit a breakout in the next few days. Validating the above is the formation of a symmetrical triangle pattern in the chart, which further solidifies the breakout over the impending period of time.

In the wake of this situation, Michael Arrington, Founder of XRP Capital, recently announced that they had bought around 130 BTC to “deploy in some new capital.” The community queried Arrington and asked for the rationale to opt for BTC, instead of XRP.

He responded and stated,

“We are denominated in XRP and our LPs are mostly large XRP holders who’d like to diversify. Make sense? We do hold a lot of XRP and are particularly bullish on it right now.”

The Crypto Dog responded to the tweet and stated,

Source: Twitter

Such an indication from one of the key proponents in the XRP space will be a welcome sign for the XRP community, which looks forward to the coin reaching greater heights.

The post XRP primes itself to race to the moon after prominent analyst predicts coin breakout appeared first on AMBCrypto.

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