The popular XRP cryptocurrency can exhaust Steam against its main analogue of Bitcoin (BTC). As it became known thanks to Bollinger Bands, an interesting thing happened – the XRP recently got into the middle lane by phone 0.00002685 BTC and, unfortunately, did not do it higher for its supporters.
After taking off 9% against Bitcoin in just the last two days, he found his top exactly in this middle group. In the context of this indicator, this can be just a sign that Altcoin about the superiority of BTC is a little pause. Maybe longer, maybe in short, time will tell.
For those who are not familiar with the groups of Bolonger, here is a quick short presentation. This is a widely used technical analysis tool, developed by the expert -trader John Bolonger, consisting of three prices.
Average? 23-day sliding average. Two others? Deviations from this. And when the price of the asset reaches one of these curves, this means that something important happened. The longer the time frame, the stronger the signal. How simple.
What does this mean for XRP against Bitcoin?
If we follow the book, then the defeat of this middle group suggests that at the moment Altcoin can take a break from the superiority of BTC. But how this happens against the US dollar is another discussion – most likely, related to common market conditions, investors’ moods and hot trends, such as XRP ETF.
Now, here is the part that should be seen. If the XRP closes the daily candle below the strip, it may drop lower and test the lower lane again. This will be approximately 9.48% lower than its current level, which in simple numbers translates about 0.0000241 BTC. It would be quite a rollback. Whether it or not, traders will carefully monitor the upcoming sessions.
