CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
CryptoIntelligence 2024-07-14 11:25:00

XRP Poised for Comeback Against Bitcoin After Forming Triple Bottom Pattern

XRP, after reaching a four-year low, now shows signs of a potential resurgence against Bitcoin. Driving this positive shift is the emergence of a triple bottom pattern, a classic bullish formation indicating robust support. This pattern forms when the price hits three distinct lows around the same level, followed by a breakout above the neckline resistance. As of July 12, the XRP/BTC pair tested key support near 793 satoshis, with analysts eyeing a breakout scenario. The weekly relative strength index (RSI) hovered at 36, suggesting XRP’s undervaluation relative to Bitcoin and bolstering optimism for recovery. A decisive close above 793

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.