XRP/BTC Ratio Primed for a Squeeze, Token Outperforms Broader Market

According to prominent cryptocurrency trader K A L E O (@CryptoKaleo), the XRP/BTC ratio is currently primed for a squeeze.

Cryptocurrency trader K A L E O is closely watching the XRP/BTC ratio, which he believes is setting up for a "massive" squeeze.

The token's daily candle is finally breaking out above key resistance from the peak of the Ripple victory pump last year, according to the trader.

XRP is outperforming the broader market with gains of up to 7% over the past 24 hours.

The XRP/BTC pair rose to a high of 0.0000099 BTC earlier today, reaching its highest level since March. The pair has now gained nearly 60% in less than two months.

As reported by U.Today, XRP's Bollinger bands recently became the tightest they have ever been. This could indicate a major price move.

Chartist K A L E O, who accurately predicted XRP's massive rally earlier this year, is now keeping a close eye on the token's XRP/BTC ratio, which he believes is setting up for a "massive" squeeze.

The token's most recent candle on the daily chart is peaking above a crucial resistance level that dates back to the peak of the Ripple victory pump last year, according to the trader.

XRP is outperforming the broader market with gains of up to 7% over the past 24 hours.

The XRP/BTC pair rose to a high of 0.0000099 BTC earlier today, reaching its highest level since March. The pair has now gained nearly 60% in less than two months.

Earlier today, the XRP/BTC peaked at 0.0000099 BTC, reaching its highest level since March. The pair has now gained nearly 60% in less than two months.

As reported by U.Today, XRP's Bollinger bands recently became the tightest they have ever been. This could indicate a major price move.

An XRP ETF?

The chartist jokingly added that XRP is trading as if it was about to get its own exchange-traded fund.

While Ripple CEO Brad Garlinghouse stated that an XRP ETF was inevitable, it is unlikely that financial firms are going to try to launch such a product in the near future.

As reported by U.Today, BlackRock recently confirmed that it was not looking to launch additional ETF products in the near future.

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