RATE Group | XRP Breaks Out of Two-Year Downtrend Against Bitcoin and the Dollar
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XRP Breaks Out of Two-Year Downtrend Against Bitcoin and the Dollar

04 Feb XRP Breaks Out of Two-Year Downtrend Against Bitcoin and the Dollar

Posted at 19:51h in Bitcoin News by

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XRP is the talk of the crypto space today, after rallying over 7% in a matter of minutes towards a high of 27 cents per XRP token.

The surge is the result of a breakout on both the XRP/USD and XRP/BTC trading pairs, indicating that Ripple will so rally against the dollar and Bitcoin itself.

XRP Breaches Two-Year Bear Trend Line on Both BTC and USD Pairs

The native cryptocurrency to the Ripple protocol was among last year’s worst performers, even despite Bitcoin and many other altcoins regaining much of the value lost during the post-crypto bubble collapse.

Related Reading | Ready For Liftoff: Two-Year Downtrend Breakout Could Lead to $14 XRP

During the peak of the bubble, XRP reached an all-time high of over $3.50 per token, before spending two years in a downtrend that reduced the price of the asset to a mere fraction of a dollar at a low of 17 cents.

After that low was touched, however, Ripple began to surge and has now broken out of downtrend resistance on the XRP/USD pair.

The…

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