The updated pressure deficiency is the pressure on the XRP against Bitcoin after two crosses of death appeared on the daily XRP/BTC diagram. Historically, when this happens, investors interpret it as a sign of weakness in the short -term pulse of the asset.
The initial cross occurred when a 23-day sliding average decreased below the 200-day average. Soon after, the 50-day curve also decreased below the 200-day average. Together, this sequence hints that the trend cools or loses steam.
But if you switch to weekly deadlines, everything is not so clear. In fact, the golden cross, where a 50-day average amount exceeds the 200-day average value-has just formed there.
Although candles are weekly, the average values are based on daily data. Since these signals are based on long -term trends, their consequences usually take time to play without canceling what is happening at this time.
Right now, XRP is sitting between two opposite signals. One assumes that he can move below in the short term, the other shows a potential support building slowly in the long run. This leaves the prospects a little mixed.
Bitcoin, pulling forward, also does not help the situation. He simply set a new record high maximum of 111,880 dollars, and his dominance in the market rises to 63.9%. Meanwhile, the dominance of the XRP is 4.13% and showed small changes.
It is likely that the XRP will continue to fight bitcoins if it does not begin to build up above some of these key sliding funds in the near future.
