Alternative investment analyst Timothy Peterson says he believes XRP is gearing up for a long-awaited breakout that could see the fourth-largest crypto asset outperforming Bitcoin.
In a series of tweets, Peterson says the Lowest Price Forward (LPF) metric suggests XRP is near an inflection point.
[adinserter block="1"]The analyst calculates LPF by marking the last time an asset was at a price that it appears highly unlikely to return and mapping its trajectory on a log scale to determine when the next break out may happen.
“I think people will be surprised at Ripple’s performance in 2021. It will probably have its best year since 2017 and maybe outperform Bitcoin…
Although Lowest Price Forward is strictly a price trend, I validated this trend with fundamental metrics from Coin Metrics.”
As for Bitcoin, Peterson says the leading cryptocurrency is unlikely to break through $20,000 this year. However, he believes there’s a 90% chance BTC will break through its all-time high in 2021.
[adinserter block="1"]Peterson’s XRP prediction is in stark contrast to a recent analysis from commodities trader Peter Brandt.
Brandt says he thinks XRP has shown it’s one of the weakest assets on the market and it won’t be long before its retracement from an all-time high of 0.000229 against Bitcoin continues.
At time of publishing, XRP is up 0.86% at $0.25. Bitcoin is up 2.96% at $15,477.
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