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xrp bottom

Three Signs That XRP Has Finally Found It’s Bear Market Bottom

Tony "The Bull" by Tony "The Bull"
3 years ago
in Cryptocurrency Market News, Ripple
Reading Time: 3 mins read

XRP continues to sink, as does the stomachs of investors who have held the altcoin as a loss for over two years running.

All that loss and suffering could soon come to an end, due to a number of signals that could indicate the asset has finally found a bottom.

Remembering The Ups and Downs of Ripple Investment

Cryptocurrencies like Ethereum, Litecoin, and Ripple are bound as one-half of trading pairs to either USD or BTC.

Because nearly all crypto assets share a trading pair with the leading cryptocurrency by market cap, when it moves, they follow.

An entire metric of Bitcoin dominance has been developed to watch this ebb and flow more closely.

When Bitcoin rises in USD value, it typically drags altcoins along for the ride. How much they rise and fall during each Bitcoin rally or drop, impacts their ratio and value in sats.

At XRP’s peak in 2018, the altcoin achieved an all-time high valuation of over $3.50. Major mainstream media outlets covered how to buy the asset investors had been scrambling to hold.

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

As soon as the bubble burst on crypto and Bitcoin, Ripple and other altcoins bled out by over 90%. XRP, in fact, remains down by over 90% on both its USD and BTC trading pairs.

Because Bitcoin appears to have bottomed in terms of USD, XRPUSD may have also bottomed a while ago. However, on the XRPBTC trading pair, it has been nothing but a free-fall for the better portion of the bear market.

The altcoin reached a peak of over 23000 satoshis during the crypto bubble but is currently trading around 2000 sats today.

However, there are multiple signs pointing to a major recovery in Ripple forming slowly as the days go by.

xrp downtrend

Ripple XRPBTC Weekly Downtrend Resistance | Source: TradingView

XRP May Finally Have Bottomed, Five Signs A Sharp Recovery Is Next

On the XRPBTC trading pair, the altcoin has now broken free from and held a retest of long-term downtrend resistance turned support.

xrp morning star

Ripple XRPBTC Weekly Morning Star | Source: TradingView

Zoomed in, coinciding with the weekly support holding, a morning star pattern has also formed on the same chart timeframe.

The breakout of long-term downtrend resistance is also accompanied by a massive, year-long bullish divergence on the MACD indicator.

xrp macd bull div

Ripple XRPBTC Weekly MACD Bull Div | Source: TradingView

The highly accurate TD Sequential indicator has also triggered a buy setup on quarterly timeframes. Similar signals have also triggered on daily, weekly, and monthly charts recently.

xrp 3m td 9 buy

Ripple XRPBTC 3M TD Sequential "9" Buy Setup | Source: TradingView

Sentiment may be at an all-time low for the altcoin, but whales are accumulating any XRP sold from smaller investors capitulating after three years of new lows being set.

Related Reading | Ripple Effect: Crypto Whales Buy Up A Sea of Small Fish Selling

However, given all the signals above, they may be selling the absolute bottom, and altcoin could soon surge into a strong, overdue recovery.

Tags: altcoinbitcoincryptoRipplexrpXRPBTCXRPUSDxrpusdt
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Tony "The Bull"

Tony "The Bull"

Tony is the “always-on” Editorial Director and Head of Research at NewsBTC, leading a talented team of writers and editors across several different global time zones. Tony is also the founder of CoinChartist.io – an educational website focused on crypto trading. Partners include Elliott Wave International, TradingView, and more. Tony’s background includes an extensive, award-winning media production career and over fifteen years of publishing operations and management. In the past, Tony has founded several media websites and his content has been read billions of times. Past clients include the BBC, Fidelity, and many others. Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. He owns a python named Satoshi. Tony longs for the day when money is separated from the state. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check out his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter. You can also follow @CoinChartist_io on Twitter and subscribe on YouTube.

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