Smart Crypto News
Registration
  • Login
  • News
  • Personalized
  • My Folder
  • Learn
  • Contact Us
No Result
View All Result
  • News
  • Personalized
  • My Folder
  • Learn
  • Contact Us
No Result
View All Result
Smart Crypto News
No Result
View All Result
Home Analysis

XRP Rally Risks Retracement, Faces Pivotal Battle With Bitcoin

NewsBTC by NewsBTC
July 11, 2020
in Analysis, Bitcoin, crypto, Ripple, TD Sequential, Technical, XRP, XRPBTC, XRPUSD, xrpusdt
0
XRP Rally Risks Retracement, Faces Pivotal Battle With Bitcoin
0
SHARES
1
VIEWS

After years of underperformance compared to the rest of the crypto market, XRP has been pumping from bear market lows. But just as the altcoin reaches a key level on its Bitcoin trading pair, an ominous sell signal has triggered. 

Will the recent rally in Ripple fully retrace as pumps have in the past? Or will the cryptocurrency finally recover in its ongoing battle against BTC?

David Versus Goliath, Ripple Versus Bitcoin 

XRP has been in a brutal downtrend on the BTC trading pair and remains over 90% down from its peak. 

Making any sort of recovery against Bitcoin has proven unsuccessful for XRP over the last three years. It’s cemented the altcoin’s status as the worst performer in the crypto market. 

It was even “flippened” by Tether for the third spot in the top ten crypto assets by market cap. 

Over the last few weeks, however, XRP may have finally found its bottom. Multiple signals potentially confirm a breakout from nearly three years of downtrend resistance and bullish momentum is building. 

Related Reading | The Price Trend of XRP Stunningly Reflects That of Sheep Manure Stock

This week alone the now fourth-ranked cryptocurrency is up over 12% against USD. At the high, the asset was up 20% on the dollar-based pair. 

The native token to the Ripple protocol also gained 10% against Bitcoin during this time. The gain represents the largest outperformance against BTC since before Black Thursday. 

But the rally could be over or at least see a strong retracement due to a “9” sell setup on the TD Sequential indicator. 

xrp xrpusd xrpbtc ripple bitcoin td sequential

Ripple XRPBTC TD Sequential Daily | Source: TradingView

Conflicting Signals Leave XRP Rally Against BTC In Jeopardy 

XRP can’t seem to catch a break against Bitcoin. Just as the asset stages its best chance at a sustained recovery in months, the TD Sequential indicator issues a 9 sell setup. 

The last time the signal triggered, the altcoin dropped 35% against BTC. 

As of the time of this writing, the sell setup hasn’t yet perfected. Doing so would require a new higher high set today beyond Thursday’s high of 2250 sats. 

There are also conflicting signals on the indicator. On the quarterly XRPBTC chart, there’s also a 9 buy setup. 

xrp xrpusd xrpbtc ripple bitcoin td sequential

Ripple XRPBTC TD Sequential 3-Month | Source: TradingView

Higher timeframes are given more weight in terms of signals. A buy signal across 27 months of price action versus just 9 days, is bound to be more significant. 

Related Reading | Ready For Liftoff: Two-Year Downtrend Breakout Could Lead to $14 Ripple

There are also several other potential signs that XRP has bottomed and even the latest 9 sell setup won’t stop the asset’s explosive momentum. 

xrp xrpusd xrpbtc ripple bitcoin td sequential

Ripple XRPBTC Weekly | Source: TradingView

During 2017 there were two distinct pumps against BTC. Each time, Ripple rocketed by over 1000% in less than two months. 

If the cryptocurrency is ready for another similar surge, this latest sell setup could be a fakeout or a false signal. Or perhaps any resulting downside is extremely short-lived. 

0
0

Related posts:

No related posts.

Previous Post

Ethereum 2.0 Is Likely to Boost DeFi Further, Even After Parabolic Rally

Next Post

These Three Factors Suggest Bitcoin is About to See Some Bearish Turbulence

NewsBTC

NewsBTC

Next Post
These Three Factors Suggest Bitcoin is About to See Some Bearish Turbulence

These Three Factors Suggest Bitcoin is About to See Some Bearish Turbulence

Twitter
About Us
Contact Us
Terms of Service
Privacy

Subscribe to our Newsletter

Download our APP on Google Play

© 2020 Smart Crypto News

No Result
View All Result
  • News
  • Learn
  • Personalize
  • Registration
  • Login
  • Contact Us

© 2020 Smart Crypto News

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In