XRP Technical breakout Vs BTC

11 thg 12, 2021

XRP has recently broken out of a descending triangle pattern with relatively high volume. This shot the price up to about 1,900 sats. At the time of recording, It's retesting its breakout point at 1,685 sats. This means that there is still a possibility of a rejection, forcing the trading pair to retest it's local lows of 1,588 sats. XRP has retested this level multiple times indicating a possible bottom price. Despite uncertainties with Ripple's court case, rumors of possible relisting on Coinbase and possible IPO from Ripple might prove to be potential catalysts for "buy rumors, sell news" price action. Adding world economic events putting pressure on Bitcoin, XRP has an big opportunity to gain in satoshi value in the short term but will likely be short lived. In my opinion, this spells out a great short term opportunity but poor long term investment.