Ripple's price is finally moving as Bitcoin trades at all-time high values. Yet, there remains a major obstacle for a long-term rally to begin.
XRP/USDT Pair
On the XRP/USDT pair’s daily chart, the asset has been rallying impulsively, following a rebound from the $0.5 level. The 200-day moving average, around the $0.55 mark, has also been broken to the upside. Yet, the price is struggling to break past the significant $0.7 resistance level. The RSI also shows a massive overbought signal, which could point to a potential correction in the short term.
XRP/BTC Pair
As the Bitcoin price has surged rapidly, the XRP/BTC chart is not showing a similar uptrend to the USDT one. Meanwhile, the asset has bounced from the 700 SAT support zone and is currently testing the 200-day moving average, located near the 800 SAT resistance level.
Possible Scenarios
For Ripple to outperform Bitcoin in the coming months, a breakout above the 800 SAT resistance zone and the 200-day moving average is crucial. On the other hand, if the market fails to continue to the upside, a drop back toward the 600 SAT support area and even lower could be expected.
Therefore, Ripples needs to overcome key resistance levels in both USDT and Bitcoin pairs to initiate a bull market.
