【bwin interwetten】XRP Just Broke Key 6
XRP strength against Bitcoin (BTC) comes to end with brutal breakdown Advertisement Disclaimer: The bwin interwettenopinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
After holding firm for nearly six months, XRP has dropped below an important price point level against Bitcoin (BTC). If you look at the XRP/BTC daily chart, you will see that the price has now closed under the 200-day moving average, the red line, for the first time since Nov. 13, 2024. This is a big change after XRP's 289% rise against BTC during that same time.
AdvertisementThe current daily close is at 0.00002237 BTC, which is just under the 200-day moving average of 0.00002245 BTC. This break puts XRP in a weaker position, technically speaking and may signal a change in trend direction if the downturn continues.
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Short-term trends are also pointing lower. Both the 23-day and 50-day curves are now in a descending pattern. If they keep going and go below the 200-day moving average, traders might see several death cross formations all at once. In chartists' talk, these crossovers are usually seen as bearish signs.
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Since February, XRP has been showing lower highs and a slow decline, staying below both short-term moving averages. The recent dip below the 200-day average might confirm this as part of a larger downtrend, unless the price bounces back quickly.
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Traders might want to keep a close eye on how XRP is doing at this level over the next few days. If the price goes back above the 200-day average, that will help ease some of the worries. But if this trend keeps up, the market will probably start looking for lower support zones and keep an eye out for signs of stronger selling activity.
All in all, the breakdown could give BTC more momentum in the pair.
