XRP has been on the offensive, having ended a 3.5-month-long downtrend with a move to three-week highs.
The world’s third-largest cryptocurrency by market capitalization clocked a high of $0.2993 yesterday, the highest level since Sept. 21, according to CoinDesk’s price index.
As of writing, XRP has pulled back slightly and is currently changing hands at $0.2879, representing 3.8 percent drop on the day after reaching its local peak.
Notably, prices are up more than 25 percent from the low of $0.2343 registered on Sept. 26. Further, XRP is the third-best performing top 10 cryptocurrency of the last seven days with a 2.2 percent gain.
Binance coin, up 16 percent, is the top gainer, while litecoin has dropped 4.2 percent and is the worst-performing top 10 cryptocurrency of the last seven days.
Bitcoin, the largest cryptocurrency by market value, is currently reporting a meager 0.06 percent gain on a seven-day basis. Also, BTC has been up just 4.5 percent from the recent lows near $7,750.
XRP’s price may continue to outperform BTC in the near future as the cryptocurrency has found acceptance above the widely tracked 100-day moving average for the first time since July 10. The key average is currently seen at $0.2854.
Meanwhile, bitcoin’s 100-day MA is currently located at least $1,500 above its price of $8,175.
Further, XRP’s technical charts are reporting a bullish breakout, as seen below.
XRP jumped six percent on Monday, confirming an upside break of a symmetrical triangle represented by trend lines connecting Sept. 18 and Oct. 13 highs and Sept. 24 and Oct.