The XRP/ETH relationship has surpassed a two-month consolidation range, likely due to increasing institutional demand. When this metric rises, it indicates that the price of XRP is outperforming Ethereum, which could drive a rally towards $4.
The growth of the ratio occurs when institutional interest in XRP is high. The Teucrium XXRP ETF has accumulated over $284 million in assets after less than four months of trading.
At the same time, XRP CME volumes have gained over $1.3 million in total trading volumes after record activity last week, a sign that there is appeal from institutional investors who may be looking to gain exposure to this token.
Therefore, when institutions begin to focus their attention on the XRP token as the price hovers just below $3, gains may continue as traders look to see if it could reach $4.50 as suggested by the bullish convergence between the SMAs.