While Bitcoin falls below $67,000, XRP experiences a rare 2.48% gain against Bitcoin, prompting questions about its ability to maintain this positive trend amidst market volatility and the upcoming SEC ETF deadline. The article analyzes XRP's technical performance and potential future scenarios.
As Bitcoin slides below $67,000, XRP flashes a rare 2.48% gain in its BTC pair. With the March 27 SEC ETF deadline here, can XRP hold its ground, or will the -63% historical drawdown scenario finally be triggered?Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.
Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. At the end of the week, a rare divergence in the dynamics of leading assets is being observed on the cryptocurrency market. While Bitcoin is showing a significant decline, XRP is holding its ground, which has led to a 2.5% increase in the XRP/BTC pair on TradingView.Today’s XRP movement can be described as an attempt to resist Bitcoin’s gravity. Right now, XRP is declining against the dollar much more slowly, down 1.4%, compared to the main cryptocurrency. Technically, this can be interpreted as a local strengthening of the asset. Despite the current resilience, the long-term bearish scenario remains intact, namely the XRP/BTC pair staying below the 200-week moving average on the weekly chart, which is one of the key levels on higher time frames. 90 Million ADA Deposit to Binance Shakes Cardano Price, XRP 'Juicy' Setup Eyeing $1.5 Short Squeeze: CryptoQuant, Shiba Inu Targets 37% Golden Cross Rally for Q2: Morning Crypto ReportThis is also where the -63% figure in the headline comes from. If this is indeed the start of a bearish trend for against Bitcoin, then the next clearly visible support zone for XRP/BTC will be at 0.00000734 BTC per XRP, a level the market tested during the Oct. 10 crash, from which XRP began its bull run at the end of 2024.Therefore, the current rise in the BTC pair is being viewed as a test of rare strength. If XRP fails to hold above the 0.00002059 BTC per XRP level, the risk of a deep correction will remain. 90 Million ADA Deposit to Binance Shakes Cardano Price, XRP 'Juicy' Setup Eyeing $1.5 Short Squeeze: CryptoQuant, Shiba Inu Targets 37% Golden Cross Rally for Q2: Morning Crypto Reportfinal decision by the U.S. Securities and Exchange Commission on 91 cryptocurrency ETF applications , some of which are focused on XRP. The approaching deadline could trigger liquidity inflows that allow the asset to temporarily move against the broader market trend.
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