RATE Group | XRP Could Soon Fall Against Bitcoin, Analyst Warns as Pressure Builds
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XRP Could Soon Fall Against Bitcoin, Analyst Warns as Pressure Builds

22 Dec XRP Could Soon Fall Against Bitcoin, Analyst Warns as Pressure Builds

Posted at 00:37h in Bitcoin News by

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Over the past few days, Bitcoin has strongly outperformed altcoins, especially Ethereum and XRP. On Wednesday, when BTC was trading 8% down on the week, both ETH and XRP — the second and third-largest cryptocurrencies by market capitalization, respectively — were down nearly 15% since the weekly open, crushed under the pressure of BTC volatility.

Related Reading: Crypto Market’s Long-Term Trend is Positive: Binance CEO Explain Why

Despite the fact that the cryptocurrency market’s capitalization has since recovered, the two aforementioned altcoins are still rather down on the week against Bitcoin. Traders expect this trend to continue.

XRP to Fall Against Bitcoin, Analyst Warns

According to popular cryptocurrency trader Jacob Canfield, XRP’s pair against BTC has just lost the support of the 20-week simple moving average after trying to hold it as support for weeks. He notes that if this level breaks down, he expects for the XRP/BTC to fall “much lower.”

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