• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
xrp ripple dollar usd bitcoin btc
Sensei Inu Logo

XRP Breaks Out of Two-Year Downtrend Against Bitcoin and the Dollar

Tony "The Bull" by Tony "The Bull"
4 years ago
in Bitcoin, Cryptocurrency Market News
Reading Time: 2 mins read

XRP is the talk of the crypto space today, after rallying over 7% in a matter of minutes towards a high of 27 cents per XRP token.

The surge is the result of a breakout on both the XRP/USD and XRP/BTC trading pairs, indicating that Ripple will so rally against the dollar and Bitcoin itself.

XRP Breaches Two-Year Bear Trend Line on Both BTC and USD Pairs

The native cryptocurrency to the Ripple protocol was among last year’s worst performers, even despite Bitcoin and many other altcoins regaining much of the value lost during the post-crypto bubble collapse.

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

During the peak of the bubble, XRP reached an all-time high of over $3.50 per token, before spending two years in a downtrend that reduced the price of the asset to a mere fraction of a dollar at a low of 17 cents.

After that low was touched, however, Ripple began to surge and has now broken out of downtrend resistance on the XRP/USD pair.

The breakout has carried the price per token to as high as 27 cents, but the number three crypto asset by market cap looks primed for far more upside – potentially to as high as $14 per token if a repeat of the alt season of 2016 helps propel Ripple’s price even higher from current levels.

xrp usd price chart

In addition to rallying against the US dollar, Ripple is also outperforming Bitcoin on the XRP/BTC trading pair. Much like the USD pair, the BTC pair shows a two-year-long downtrend against Bitcoin that XRP has now broken out from.

At its crypto bubble high, Ripple price per token in BTC reached as high as 23,000 satoshi – the smallest unit of Bitcoin measurement. At the low, it reached just 2,300 sats, resulting in a 90% drawdown from peak to trough.

After today’s rally, XRP is trading at roughly 2900 sats, but like the USD pair could reach targets much higher.

Immediate upside targets for XRP are around 30 cents and 3,000 sats respectively, and above that level is 50 cents and around 5,000 sats.

xrp btc price chart

Past breakouts of downtrend resistance in Ripple have led to a 6,000% increase against the dollar and as much as 1,000% against Bitcoin. A similar rally would push Ripple price to $14, and a new high against Bitcoin at 25,000 sats.

Related Reading | Alt Season Cancelled: XRP, Ethereum, and Litecoin All Trigger Sell Signal

The only thing standing in the way between new highs for the number three cryptocurrency is a few key levels of overhead resistance, and a sell signal on daily timeframes using the TD 9 Sequential Indicator.

Even if a pullback occurs, it could be a completely normal retest of resistance turned support, which would result in more confidence that an uptrend has begun.

Featured image from Shutterstock
Tags: bitcoincryptoRipplexrpxrp btcxrp usd
Tweet123Share254ShareSend
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.

Related Posts

Wall Street Memes Enters Last Day of Presale Before Tier 1 Exchange Listing – Could This Be the Next Big Meme Coin?

Wall Street Memes Enters Last Day of Presale Before Tier 1 Exchange Listing – Could This Be the Next Big Meme Coin?

2 hours ago
Spot

What The Drop In Spot And Derivatives Volumes Means For The Price Of Bitcoin

3 hours ago
Base

Explosive 6-Week Growth Sees Base Hit New Milestone

4 hours ago
5 New Meme Coins to Watch: Wall Street Memes Could 10x on IEO, Meme Kombat Raises $50k

5 New Meme Coins to Watch: Wall Street Memes Could 10x on IEO, Meme Kombat Raises $50k

9 hours ago
Bitwise Ethereum ETF

Bitwise Withdraws Application, A Big Blow To Ethereum ETFs?

21 hours ago
Unleash the Power of Crypto Cloud Mining: TopHash

Unleash the Power of Crypto Cloud Mining: TopHash

23 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • The Financial Investment Expo Bangkok, Thailand

    15 mins ago
  • XRP Ledger Gets Massive Update, $XRP Pinned Below $0.55 As...

    2 hours ago
  • Recent BNB Updates: Investors Flock to Borroe.Finance and...

    4 hours ago
  • Bitcoin Metrics Show Long-Term Holders Refusing To Sell...

    5 hours ago
  • NFT Support for Polygon Stopped by Binance; Polkadot and...

    1 day ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.