Analyst Unveils Unexpected Connection Between XRP and Crude Oil

Independent market analyst Dom (@traderview2) has captured attention in the cryptocurrency sphere by highlighting a unique metric: the valuation of XRP in relation to West Texas Intermediate crude oil.

The Connection Between XRP and Oil

In a recent TradingView graphic shared on May 14, the analyst illustrated the XRP/USOIL pairing hitting the same resistance range, a pattern observed since December. “Last night we reached the five-month high again, and the price was rejected without a hitch,” he noted, adding that “it’s fascinating how well we adhere to this level, providing a clear zone that bulls need to reclaim to initiate a new upward movement.”

Since December, XRP has encountered the same resistance level six times. On May 13, Dom remarked, “Can you ask for a more obvious range? This chart should be featured in a textbook… The significance of this high is clear. If we surpass it, the chances of $XRP achieving a new all-time high significantly increase. After BTC / USOIL touched its ATH two weeks ago, I anticipate a similar scenario here. Patience is key; we need momentum for a breakout.”

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This resistance is outlined in Dom’s chart by a dark gray range from about 0.0418 to 0.0430. The last two attempts to breach this band—one during the Asian market on May 12 and another in the New York session on May 14—resulted in pronounced downward spikes.

Furthermore, momentum appears to be working against the current selling pressure on the token. According to on-chain order-flow evaluations, Dom pointed out that “$210 million worth of XRP has been sold over the market in the last week—yet XRP has risen by twenty percent.” He posits that this indicates absorption by institutional liquidity providers rather than retail enthusiasm: “Market makers or whales are likely taking advantage of aggressive sales through passive limit orders. When this trend continues, an explosive upside often follows once sellers are exhausted.”

Community members quickly inquired about the implications of a potential breakout for XRP’s dollar value. One follower, The Standard (@Xrpdemon589), asked, “If it breaks out, will it lead to another parabolic climb surpassing the ATH?” Dom replied, “If we experience a full breakout, historically, yes, it’s just a matter of time until XRP/USD reaches a new high.”

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Crypto commentator Moon Lambo (@MoonLamboio) questioned the rationale behind connecting an energy-related ratio to a standalone token. Dom agreed that no definitive foundational theory exists but emphasized the analytical benefits: “I believe it offers an alternative perspective on price action when we tie it to something intricately embedded in the economic framework. There isn’t a specific correlation—rather, it helps in observing aspects that wouldn’t be as apparent in the USD pairing.”

From a technical standpoint, the situation can be viewed in binary terms. Dom reiterated his “alerts are set for a full breakout” above 0.0418–0.0430; a two-hour closing in this region would indicate significant range expansion and “provide bulls with the opportunity for the next upward drive.” If buyers fail to maintain the pivotal point at 0.0394, it would re-open pathways to the 0.0378 minor support, and a breach there could unveil the 0.0357 floor, undermining the current series of higher lows.
Until one of these boundaries breaks, XRP/USOIL remains trapped in its five-month range, but Dom asserts that monitoring the pair hones traders’ overall perspective. “BTC, USOIL, XRP—linking these elements is just another method to gauge liquidity,” he stated. “At times, the advantage lies in viewing the market from a slightly different viewpoint.”

As of the latest update, XRP was priced at $2.46.