📉 Bitcoin risks 30% loss against XRP if ‘triple bottom’ confirms
- 🪙 XRP's potential comeback:
- XRP has lagged behind Bitcoin in 2024.
- Recent sell-offs by Mt. Gox and the German government might spark renewed interest in $XRP .
- 📈 Triple Bottom Formation:
- XRP is nearing a breakout against Bitcoin.
- Target: 1,055 satoshis if the neckline resistance of 793 satoshis is broken.
- Risk: A pullback could push XRP to 664 satoshis (down by 15%).
- 📊 Bitcoin’s Drawdown Benefiting XRP:
- German government sold 46,200 BTC since mid-June.
- Mt. Gox reimbursement led to reduced Bitcoin interest.
- XRP/BTC pair up by over 20% in July.
- 🔄 Market Shifts:
- Bitcoin dominance fell to 54.55% from 55.46%.
- Traders possibly rotating into altcoins.
- XRP's year-to-date returns: -26.50%.
- 📉 RSI Indicators:
- XRP’s weekly RSI at 36, indicating it's undervalued against Bitcoin.
- Historical context: Last time XRP’s RSI was at 33, it saw a 194% rally.
- Bitcoin’s weekly RSI declined from 88 to 45.50, indicating weakened momentum.
- 🚀 Future Outlook:
- Potential upward movement for XRP.
- Speculation around an "inevitable" exchange-traded fund launch for XRP.
For more detail : https://bitly.cx/BmLHk