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Home Technical analysis XRP

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

Tony Spilotro by Tony Spilotro
4 months ago
in XRP
Reading Time: 2min read
XRP Sweeps Bear Market Lows Against Bitcoin, Is It RIP For Ripple?

Gravestone in cemetery with words RIP rest in peace carved

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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.

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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
Tags: altcoinbearish divergencecryptoRelative Strength IndexRipplexrpXRPBTCXRPUSDxrpusdt
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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