XRP Struggles Against Bitcoin

XRP’s bid to prove itself against Bitcoin has run out of steam, with charts indicating a shift in momentum each week.

What initially appeared to be a major breakout on the XRP/BTC pair now resembles a double top—a formation that typically suggests weakness rather than strength, indicating that the trend is exhausted.

The rally that began earlier this year lifted XRP above its 200-week average momentarily, making it seem like the token could challenge Bitcoin’s lead. The price reached the 0.00003200 BTC level twice, but was rejected both times, leading the pair back toward familiar support levels.

The failure to extend higher has made 0.00002200 BTC a key level to watch. Historically, when this level is lost, the trend often breaks further down to 0.00002000 BTC. The flattening moving averages across the board reinforce the idea that XRP’s upside potential has been utilized.

Digging Deeper

On shorter time frames, the situation remains bleak. The pair is trapped between resistance near 0.00002600 BTC and the 200-day average. Each bounce is quickly rejected, and sellers dominate the market, while buyers struggle to gain any ground.

This is occurring while Bitcoin trades above $111,000. Meanwhile, XRP is priced at $2.83 against the dollar but faces difficulty against BTC.

Unless XRP can decisively break through its resistance, it appears the token has exhausted its opportunities, with Bitcoin retaining the upper hand.