A month ago, Ripple [XRP] traded nearly 40% below its current price, grinding through a multi-month consolidation under $2.50. Fast-forward, and that patience is finally paying off.

But cracking $3 is one thing, and holding above it is another. Over half of the recent 40% move occurred in just the past week, and the RSI was already pushing near 90, at press time, marking a level last seen during the election squeeze.

Back then, XRP overheated and dumped nearly 35% to $1.90 before that zone flipped into solid support, setting the stage for the run to $3.35.

So does that put $3 at risk this time around?

The XRP/BTC chart is flashing strength again. In under two weeks, the ratio has risen 30%, reclaiming the March breakdown point and surpassing two key resistances on the way up. 

Last time we saw this kind of relative outperformance was during the election rally, when Bitcoin [BTC] was stuck range-bound below its then-historic $100k mark.