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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

XRP Sweeps Bear Market Lows Against Bitcoin, Is It RIP For Ripple?

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
2 mins read

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While Bitcoin is blasting off to new 2020 highs, XRP continues to fall to new lows on the BTC trading pair. Will the top cryptocurrency keep cannibalizing Ripple’s crypto market capital, or will things soon reverse for the long beaten down altcoin?

XRP Sets New Lower Low Against Bitcoin, Revisits Turning Point From 2017

XRP is an anomaly in the cryptocurrency market. The now fourth-ranked cryptocurrency has been so stable and stagnant, even Tether has grown its market share more than Ripple has.

While Ethereum and DeFi tokens exploded over the summer months, XRP did very little. And with Bitcoin booming, once again the altcoin is going nowhere fast on the USD pair.

On the BTC trading pair, however, it keeps setting new bear market lows, making it extremely obvious that the first-ever cryptocurrency is far more in demand than Ripple.

xrpbtc ripple

Ripple drops to new bear market lows against Bitcoin | Source: XRPBTC on TradingView.com

Bitcoin’s latest rally has caused altcoins to bleed out across the board, with XRP taking some of the worst of it. Ethereum and other top altcoins have recovered against Bitcoin throughout the year, while Ripple sets low after low.

Related Reading | Silent XRP Accumulation Builds Pressure For Breakout Against Bitcoin

This latest bear market low – or possibly the first bull market low – has reached under 1600 sats. The low also interesting coincides with the low after Bitcoin reached $20,000, and the tides turned to an altcoin season.

xrp ripple bull div

But could a hidden bullish divergence on the RSI trigger a reversal? | Source: XRPBTC on TradingView.com

Hidden Bull Div Is The Last Chance For Bulls To Prevent Ripple Funeral

XRP’s woes seem like they’ll never end. Crypto investors are calling for the death of the arguably centralized currency, but that could be a signal of capitulation.

Coinciding with the sweep of lows, whales continue to accumulate and the cryptocurrency has formed a hidden bullish divergence on weekly timeframes against Bitcoin.

Related Reading | Underdog Story: Why XRP Could Soon Outperform Bitcoin And Ethereum

The signal is on the Relative Strength Index on the XRPBTC trading pair, stretching as far back as September 2019 when Bitcoin soared to $13,800 and left altcoins behind.

Bitcoin is now above that price again, prompting another fall to deeper depths. Is this RIP for Ripple, or is XRP about to soar against BTC once the bullish signal confirms?

Featured image from Deposit Photos, Charts from TradingView.com
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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