XRPBTC Has been in a down trend for quite a long time. Compared to other Altcoins, XRP has been hit particularly hard. However, if you look at the long term trend, you can see that Ripple has been making it's final descent of the last leg to complete the end of the pattern. Up until this point, Ripple has followed a larger, fairly predictable fractal pattern. Back in 2017 the up trend in bitcoin was strong enough that ripple broke down, out of the triangle it was in, before finally making an explosive move to the upside.There has been a lot of negative feelings towards XRP over the last couple years. Ripple has fallen quite far from it's all time high. The thing is, when bitcoin goes up, the price of XRP tends to go up against the
XRPUSD pair and goes down with the XRPBTC pair. This is telling, because if bitcoin keeps going up, the XRPBTC pair will go down too and eventually break to the downside like it did in 2017. If Bitcoin goes down, XRP could end up breaking out to the top part of the triangle and at the least, have some sort of move to the upside. Either way, XRP will break the trend and start a new one. Given the repeated pattern so far, we're likely to see some fireworks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.