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XRP/BTC Falling to New Lows as the Bitcoin Price Explodes

Highlights

    XRP price gets rejected multiple times at $0.26 in November 2020

    The XRP/BTC price plunges down to the lowest levels since 2017

    On the Contrary, XRP/USD is expected to surge in coming days

Erupted Bitcoin bump XRP/BTC price to the bottoms

Bitcoin price which got rejected multiple times at different levels in 2020, finally broke out to its highest levels this year. As the BTC price breached above $16,000 recently and very strongly heading towards its all-time high.

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However, the other altcoins especially XRP, also got rejected multiple times at $0.26, has appeared to have endorsed a slow movement. Also, the uptrend of Bitcoin and relaxed XRP price led to the downtrend of XRP/BTC price to their lowest levels since 2017.

Currently, XRP/BTC price stands at 0.00001564, and XRP price is $0.256499 with a jump of 1.01% in the last 24 hours. However, the XRP/USD price is expected to surge in the coming days.

Also Read: Ripple Price Analysis: XRP Price Set for Big Drop?

XRP’s consolidation approaches the tip

As the buying pressure is mounting at the time of reporting, XRP is strong heading towards $0.26 despite multiple rejections. The next target set is at $0.27 after successfully maintaining after $0.26.

Considering the technicals, the RSI indicates a good buying momentum being build in the market but, it needs to cross RSI 70 or 80 to reach the target. Also in the last couple of days, 

XRP/USD price had experienced two major breakouts which rallied XRP price above $0.25. Therefore yet another push is the need of the hour to carry the price to the next levels.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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