XRP/BTC continues to face challenges amid Bitcoin's dominance. Negative trends are evident on the charts.
Weakness Signals on Daily and Weekly Charts
The XRP/BTC pair remains below the middle line of the Bollinger Bands on the daily chart, indicating a risk of decline as it hovers near the lower band.
On the weekly chart, the negative trend is even more pronounced. The upward movement that began late last year has stalled sharply at the 0.000030 level, with each weekly close showing a strong downward trend.
Monthly Chart Also Reflects Unfavorable Scenario
The monthly chart does not provide favorable signs either. Historically, XRP offered ratios comparable to Bitcoin, but for over five years, the level around 0.000055 has remained an unbreakable ceiling, affirming persistent resistance around 0.000030.
Overall Trend in the Altcoin Market
With ongoing congestion near 0.000025 BTC and capital shifting towards Bitcoin, the XRP/BTC pair is at a disadvantage. The significant market share of Bitcoin and general weakness across altcoin pairs continue to exert pressure on XRP/BTC.
Current market trends and technical charts show a challenging situation for XRP/BTC. The pair continues to face pressures and numerous challenges.
